FG reveals N75bn fund for youth development, small businesses

Minister of Finance, Zainab Ahmed has said that the Federal Government has created a N75 billion entrepreneurship support fund, to enable youth in the country grow their businesses and also be economically independent.

The minister made the disclosure in an interview with newsmen after a meeting with Kaduna State Acting Governor, Dr Hadiza Balarabe, on Saturday, October 24, in Kaduna.

According to her, N25 billion will be released over three years starting from 2021.

Zainab Ahmed explained that the fund would support the youth to actualize their innovative as well as entrepreneurial ideas; be productive and employers of labour.

On her meeting with the acting governor, Zainab Ahmed said it was in response to the directive of President Muhammadu Buhari for all ministers to return to their states; and also get inputs on best ways to empower the youths in each state.

“We came to meet the Government of Kaduna State to discuss the issue of the protest that has been happening around us; specifically the EndSARS protest.

“The state has already prepared an excellent report on all the plans and efforts they have undertaken; and we have also come to understand the challenges that they have; and how best to support them,” she said.

“We are here in response to the directives President Muhammadu Buhari gave all ministers to come back home and engage major stakeholders within the state to see how best we can support the state to address the security issues that we have at this time.

“It was a wonderful meeting and very productive,” the minister said.

The Minister of Environment, Dr. Muhammad Mahmud was also part of the meeting.

He noted that the state government had kept a chronicle of events from the very first day of the protest; adding that the delegation was very impressed.

“We are very impressed; and we can see why the little protests that have taken place here were very peaceful,” he added.

On the Federal Government 774,000 jobs, Mahmoud said some of the beneficiaries will be engaged in the various recycling plants built by the government in states; to recycle products especially plastic wastes.

He added that with the approval of the new policy on plastic waste management in the country; by the Federal Executive Council on Wednesday, “the ministry is working on several initiatives that will create employment opportunities; and create wealth for the youths.”