YouWin awardees receive 1.6 billion in 5 years

The Nigerian Government says it has paid about N1.6 billion to 638 awardees of the Youth Enterprise with Innovation in Nigeria (YouWin) programme,

It said that 3, 900 of the trainees, including 1, 200 women, were each given non-repayable take-off grants ranging from N1 million to a maximum of N10 million for businesses of their choice.

A statement from the Ministry of Finance on Tuesday in Abuja, said the amount was paid in June.

It can be recalled that under the programme which took off in 2011, a total of 18, 000 young entrepreneurs were trained in management and business skills for Small and Medium Enterprises (SMEs).

It said that 3, 900 of the trainees, including 1, 200 women, were each given non-repayable take-off grants ranging from N1 million to a maximum of N10 million for businesses of their choice.

“The third edition of the programme, which is still running with 1,500 beneficiaries has received the sum of N11.2 billion in funding.

“So far, grants totaling N7.4 billion have been disbursed to the awardees, ’’ the statement said.

It also quoted the Minister of Finance, Mrs Kemi Adeosun as saying that the present administration was set to restructure the programme in line with its “change” agenda.

Adeosun said that the restructuring would ensure efficiency, transparency and accountability in investing the capital grants given to the beneficiaries.

She assured that all the commitments made by the government under the YouWIN programme would be fully met.

She said that every beneficiary would be duly verified, using tools like Bank Verification Number (BVN), before disbursements.

The minister added that the Federal Government would begin consultations with the beneficiaries and other stakeholders of the programme to inject new ideas for its sustainability.

According to the statement, the ministry of finance, which has been running the programme from inception, will hold the consultation on July 22 in Abuja.

“Representatives of the beneficiaries drawn from the six-geo-political zones and other stakeholders will chart a way forward for the programme,’’ she added.