N75bn Youth Fund beneficiaries to get N250,000 – N5m

N75bn Youth Fund beneficiaries to get N250,000 – N5m, says minister

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, explained on Saturday how between N250,00 to N5m would be disbursed to each benefitting youth from the Federal Government’s N75bn youth entrepreneurial support fund.

While speaking on Saturday to 77 District Heads and religious leaders in Kaduna State University in continuation of President Muhammadu Buhari’s directive to all his cabinet members to uphold the efforts of the present administration towards national development, the minister explained how the youth could access the N75bn fund.

Ahmed said youths could access the N75 billion entrepreneurship youth support fund, as each benefiting youth would receive various amounts ranging from N250,000 to N5 million.

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She stated, that the amount accessible to each beneficiary would be dependent on their business idea, proposal, and their repayment plan. The interest-free loan is expected to be paid back to the Government within a period of five years.

According to the Minister, the meeting originated as a reaction by the Federal Government to come up with optimal ways to empower the youths due to the #EndSARS protest which later turned into looting.

She said, “We are calling on the attention of parents that we have failed our children in the sense that the kind of value we use to have is no more. We need to remind ourselves that our children need to be upright and that, this criminality going on a daily basis is not for their benefits and the benefit of the state and country.”

Also speaking, Dr. Mohammed Mahmoud Abubakar, the Minister of Environment,  on the occasion, appealed to stakeholders to support the government in the discharge of its duties of protecting lives, property, and also job creations.

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The Minister of Environment said youth should be self-sustaining by focusing on skills acquisition and not to be over-dependent on government. He urged the leaders to be advocates of peace in all their dealings for meaningful development.

The Kaduna State Deputy Governor, Dr. Hadiza Balarabe, condemned the recent spate of lootings and destructions of public and private property across the country.

Hadiza appealed to the traditional and religious leaders to sensitize their subjects and followers to always abide law and order.