With the commencement of the second phase of the N10 billion Youth Entrepreneurship Support (YES) initiated by the Bank of Industry (BoI), beneficiaries have lauded the bank for assisting them to realise their entrepreneurial dream.
YES aims to tackle youth unemployment in Nigeria by developing their capacity and funding their business ideasstart-ups – at concessionary interest rates.
The scheme was launched by the Minister of Trade, Industry and Investment, Dr. Okechukwu Enelama, last year.
He said the programme was designed to equip young people with skills and knowledge to be self-employed by starting and managing their own businesses.
He noted that about 1.8 million young Nigerians enter the saturated labour market annually, adding that the new scheme is expected to create about 6,000 direct jobs and 30,000 indirect ones yearly.
Some of the beneficiaries of the ,while sharing their experiences recently in Lagos, noted that the initiative has helped in addressing the rising unemployment concerns among youths.