Nigeria launches YouWin Batch 4

FILE PHOTO: Former Nigeria's finance minister, Ngozi Okonjo-Iweala and Former President Goodluck Jonathan

President Goodluck Jonathan on Monday in Abuja launched the $50 million Venture Capital Fund also known as the YouWin! Small and Medium Enterprise, SME,-Growth Fund.

Mr. Jonathan launched the fund alongside the fourth round of the Youth Enterprise with Innovation in Nigeria (YouWin) programme at an event held at the Banquet Hall of the Presidential Villa.

The fourth edition is expected to support additional 1,500 entrepreneurs along with the SME-Growth fund, which is a private equity fund for entrepreneurs.

Speaking at the launch, Mr. Jonathan said the new enterprise fund would enable those who won previous grants from the YouWin programme to take their businesses to the next level.

He said judicious administration of the fund would require hard work on the side of government, adding that if government worked hard, it could attract more contributions from investors.

The president further noted that the new fund would be managed by independent fund managers alongside the government and “you will not need to know somebody to access it”.

He said that selection of beneficiaries would be highly competitive and strictly based on merit.

The president lauded the efforts of the Minister of Finance, Ngozi Okonjo-Iweala, whom, she said, has so far successfully coordinated three batches of the YouWin programme.

Citing available records, Mr. Jonathan expressed delight that a total of 22,000 jobs had been created by the first and second editions of YouWin.

He expressed the hope that with the launch of the fourth edition, the total number of jobs would rise to 44,000.

The president, who had earlier inspected an exhibition by beneficiaries of the programme, expressed happiness over the quality of products which, he said, were of international standard.

Describing YouWin as arguably one of the finest initiatives of his administration, Mr. Jonathan said that the response of youths to the programme was a source of pleasure to him.

In her speech, Ms. Okonjo-Iweala said that the disbursement of funds in the third phase of the programme would commence shortly as the hitches had been cleared.

She added that another 1,500 entrepreneurs would be supported with grants of between one million naira and 10 million naira to enable them to improve or run their businesses, expand them and create jobs.

(NAN)


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  • Wähala

    Creating 22,000 jobs where 20million Nigerians are unemployed and expecting to double it is a mocking joke by Dumbo. Just like SURE-P, this is another conduit for siphoning money thru his cronies to his campaign slush fund. This foto-op is end of story, next news about this will be scandals that will end without prosecutions as usual. Dr. NOI, where’s the report of the forensic examination of our NNPC, eh? Where’s our money? Bunch of crooks!

    • eobrat

      This is just one initiative. Have you heard of how the Bank of Industry is empowering young graduates and businesses to create jobs? or have you not seen the documentaries of small and medium scale entrepreneurs in different parts of the country that are running businesses with loans from the Bank and providing employment? There are several ongoing initiatives running quite well. It is not uhuru yet, but progress is being made. Only if previous regimes had made similar efforts, the level of unemployment would not have been this high. The government should intensify effort in this regards. We have energetic youth population that is creative. With the right facilitation, they will create employment for themselves no doubt.

      As for the report of the forensic examination of our NNPC, the Minister of Finance had promised its release this month. We have about 2 weeks left in November, lets cross our fingers and wait. Nigerians will rightly hold her to task if it is not made public by end of this month.

    • Isaac Domen Esq.

      Do u think in your wildest imagination that one Presidential Administration can provide Jobs for the over 20million nigerians? At times we cloud our thoughts with Ill feelings and sentiments that we actually forget to appreciate the efforts made by our president to make Nigeria better. Truth be told, have we not had over 9 Heads of State, why do we expect GEJ to do everything which oda presidents didn’t do? Should he not do what he can and. Leave the rest for future presidents? After all America and other countries have presidents and they still promise Good Roads, water, Education etc. One would think they should have gotten to a static point. Let’s support any Administration, knowing that someday we may have the opportunity of serving as they are now serving.
      God Bless this Federal Republic of Nigeria.

  • Sharia_Haram

    Carry go my president. GEJ till 2019.

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  • favourtalk

    Stop the rush campaign when it’s late to move the nation forward. Let only those 20 close relatives that earned your you win vote for you and let the millions who suffered during your four years vote against you, then will you realise how silly and unimportant your projects are when 99% do not benefit from any programmes in your government. We need a better nation

  • Mrs Akanimo Ojong Edem

    Oh…my Great Jona is just too much. Na only God go bless you for your calmness, gentleness, nobility, governance acumen, non vindictive attitude, tolerance and above all ensuring peace in your Niger Delta and thereby guaranteeing flow of cash to run a continent as big as Nigeria…We also thank you most especially for allowing the rest of continent Nigeria benefit from the wealth of the entire SS &SE states. God bless you.

  • MushinSpeaks

    They claim to have create millions job through the programme but more than 70% of the youths remain jobless. The jobs they created are unseen and not felt across the sector; the people still languish in poverty; the economy is yielding dwindling revenue and inflation is on the increase.

    Brethren, lets all vote the change we yearn and hope for. GEJ’s govt is that of deceit. Enough!

    • paul preston

      my friend use byour brain go and apply for the programme do not spew nothingness here

      • MushinSpeaks

        Millions have applied but were rejected; they give cash to their people who will continue singing their praise. This government doesnt mean well for you and me; no matter the amount you are paid to be here.

        • bee

          if we keep up with these sick beliefs and mind set how do we move forward? can you honestly defend the phrase ‘their give cash to their people’ as used by you? please speak good; let your heart (thoughts) and words birth a new and better government.

  • Olukayode

    What an entertainment!