BusinessDay

FG ready to access N25bn for youth intervention programmes

The Federal Government is ready to access the N25 billion approved in the 2021 appropriation for youth intervention programmes, aimed at creating positive impacts on young Nigerians.

Sunday Dare, minister of youth and sports development disclosed this on Monday when he appeared before the House of Representatives Committee, overseeing his ministry for the 2022 budget defence.

Dare stated that the administration of President Muhammadu Buhari was taking a detour from empowering the youth to training them to develop requisite skills and knowledge that would better their lots.

“We thank Mr. President for the approval of N25 billion in 2021 appropriation bill. The ministry is yet to utilise that money for very justifiable reasons. We are at a point which we are ready to access that money. And that will be a trigger to scaling up the number of youths that will benefit.

“As we speak today, the funds released were released by CBN, administered by CBN and microfinance bank, they have the platform that process it and because it’s their money, we didn’t administer a dime out of that money”, he said.

Read Also: Bulk of young Nigerians shut out of N75bn youth investment fund

youth intervention programmes

The minister said about 6054 Nigerians have benefited from the N75 billion youths investment fund, expressing optimism that the Ministry hoped would complete 12, out of the 48 youth development centres across the geopolitical zones in 2022.

“Last year, you will recall that Mr President in council approved N75 billion for three years under the Nigerian youth investment fund. We started out with a small advance loan from the Central Bank of Nigeria, CBN. We requested N5 billion but as we speak only N2.9 billion has been released.

“As we speak today, 6054 have benefitted from the Nigerian Youth Investment Fund. We have gone ahead to make sure that our website releases the name of some of the beneficiaries and the amount they received, the sector of SMEs in which they operate

“Our goal is to ensure that we increase the number of beneficiaries and that’s why we have developed as a ministry our own loan management system. It will give us a hundred percent control, and also open the door for us to access N25 billion directly from the finance ministry”, Dare added.

The House Committee on Youth Development, urged the Federal Government to embark on concrete programmes for the nation’s teeming population that make them the true leaders of tomorrow instead paying lip service to the development of their future.

Chairman of the committee, Yemi Adaramodu (APC-Ekiti) said for the youth to be leaders of tomorrow, there must be very deliberate action from the leadership of the country, especially the ministry of youths

“It’s like sowing a seed in the lives of Nigerian youths. When you sow a seed, you expect that seed to germinate and grow into a big tree whereby fruits can grow. Over the years, the government of President Buhari has created a lot of activities and programs to enhance the lives of Nigerian youths.

“These pass through the Ministry of Youths and Sports, to get these things across to the beneficiaries. Secondly, this budget this year, what we want to see there are those things that can empower the youths. I always hear this statement, youths are the leaders of tomorrow, and I wonder when that tomorrow is starting. So, for Nigerian youths to be leaders there must be very deliberate action from the leadership of Nigeria, especially the ministry

“That’s why today the only thing we want to hear from the minister is those things that are going to put enough smiles in the faces of Nigerian youths. We have to do a very welcoming appropriation so that Nigerian youths will take their rightful position in place of priorities,” he said.

Get real time updates directly on you device, subscribe now.