Monday, 2 November 2020

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

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said on Saturday that between N250,00 to N5m would be accessible to each benefitting youth from the 

Federal Government’s N75bn youth entrepreneurial support fund.

The minister had penultimate Saturday said the Federal government created a youth fund of N25bn as part of efforts to address the #EndSARS protests and other related youth restiveness across the country.

Ahmed explained that the youth fund would be increased to N75bn within the period of three years.

On Saturday, in an interface with the 77 District Heads and religious leaders held at the Kaduna State University in the state capital, the minister explained how the youth could access the N75bn fund.

Ahmed said benefiting youths would receive various amounts of money ranging from N250,000 to N5m each.

This, she explained, would be dependent on the business idea, proposal and repayment plan of each benefiting youth.

The minister added that the interest-free loan was expected to be paid back to the government within a period of five years.

The finance minister said the meeting was designed to get inputs on best ways to empower the youths in reaction to the #EndSARS protests.

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