YAY! Goodnews to the youths, President Buhari's administration finally launches N10 billion (Y.E.S) youth entrepreneurship support project

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The Muhammadu Buhari administration on Thursday, through the Bank of Industry, formally launched a N10 billion Youths Entrepreneurship Support (YES) project to empower youth with loans to start businesses.

the Minister for Industry, Trade and Investment, Okechukwu Enelamah, who as at the launch of the project said his ministry would partner all agencies of government to create new jobs and
that the ‘YES’ project of BoI was part of the Federal Government’s youth employment scheme, saying that about 36,000 jobs would be created annually through ‘YES’.

Furthermore, He said more than 40 per cent of Nigerian graduates had no jobs and that an average of eight million Nigerians entered the job market annually.

The minister pleaded with prospective beneficiaries to repay the loans for the success and sustenance of the project.

According to premium times, the acting Managing Director of BoI, Waheed Olagunju said that a participant under the scheme could access up to N10 million loan with single digit interest rate and repayable over three to five years and that an applicant must present NYSC or higher education certificate as collateral to qualify for the loan with two external guarantors.

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