Philip Obin, Special Adviser to Governor Bassey Otu on Digital Economy has stated that over 10,000 Youths in Cross River State have been registered for the Federal Government Youth Investment Fund.
The Federal Government has made available a total sum of N110 bilion down payment to be disbursed to youths aged 18 to 40 years.
Speaking on this during a meeting with journalists in his Office in Calabar, Cross River State Capital, the Special Adviser on Digital Economy, said that the fund was being administered by the Federal Ministry of Youth Development.
Obin noted that under the initiative, youths who have business ideas but do not have funding can access between N3 Million and N20 millon.
According to him, the youths are to use the fund to start up their businesses while those who are already in business and want to top up should do so through Nigeria Youth Investment Fund.
“If you have all of this, Government has mandated his Office to register all eligible Cross River indigenes and ensure that they are guided through the process and ensure they comply with all the requirements.
“With this, they can be deemed guaranteed of accessing this fund”, he noted, stating that in the last whole month, “we have 50 to 100 volunteers who are coming here every other day to register people.”
The Special Adviser further noted that “we have registered close to 10,000 persons altogether on the programme. We are optimistic that this is one of the best for Cross River.”
He however regretted that over the years, the youths in Cross River State hardly meet State quota.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
