Beneficiaries of N75bn Youth Fund to get between N250,000 and N5m –Finance Minister

Beneficiaries of the Nigerian government’s N75 billion youth entrepreneurial support fund will be able to access between N250,000 to N5 million each, Minister of Finance, Budget and National Planning Ms Zainab Ahmed has said.

Ahmed disclosed at an interface between 77 district heads and religious leaders which held at the Kaduna State University on Saturday that the fund would be raised to N75 billion over three years.

The minister had two Saturdays ago said the Nigerian government established the youth fund as a response to the #EndSARS protests and other related youth restiveness in Nigeria.

According to her, the accessible amount would be premised on the business idea, repayment plan and the proposal of each of the benefitting youths.

The interest-free credit facility is expected to be paid back to government within a five-year period.

Ahmed enjoined religious and traditional leaders at the meeting, which aimed at getting inputs on the best approaches to youth empowerment in response to the #EndSARS protests, to help enlighten parents at community level on the imperative of instilling values in their children.

“We are calling 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.”

Speaking at the event, Minister of Environment Mohammed Abubakar encouraged stakeholders to back government in the protection of livers and property.

He equally admonished youths to be self-independent by focusing on skill acquisition and to be less reliant on government.