SAN FRANCISCO, June 28, (THEWILL) – In spite of a seeming trashing of policies programmes of the past administration, the President Muhhamadu Buhari led Federal Government has paid N1.6 billion to 638 awardees of the Youth Enterprise with Innovation in Nigeria (YouWin) programme.
The programme, initiated by the administration of former President Goodluck Jonathan in 2011 as part of the government’s job creation initiatives, provides grants to about 1200 people to start small businesses each year.
According to a statement by Na’inna Dambatta, Director of Information at the Ministry of Finance, the money was paid in June adding that 1,500 beneficiaries have received N11.2 billion in funding, and grants totalling N7.4 billion have been disbursed to the awardees.
“The third edition of the programme, which is still running with 1,500 beneficiaries has received the sum of N11.2 billion in funding,” he said in a statement.
“So far, grants totalling N7.4 billion have been disbursed to the awardees.
“In June 2016 alone, the sum of N1.687 billion was paid to 638 awardees.”
Danbatta added that 18, 000 young entrepreneurs were trained in various aspects of Small and Medium Enterprises management and business skills; and 3, 900 of them, including 1, 200 women, were each given non-repayable take-off grants for businesses of their choice ranging from N1 million up to a maximum of N10 million.
The statement said the Minister of Finance, Kemi Adeosun, promised that the YouWin programme will be restructured to ensure efficiency, transparency and accountability in investing the capital grants given to the beneficiaries by the Federal Government.
She added that all the commitments made by the Federal Government under the YouWIN programme would be fully met.
Story by David Oputah
