The Federal Government on Tuesday said it had disbursed a total of N10.99bn to beneficiaries of the Youth Enterprise with Innovation in Nigeria programme from 2015 till date.
The YouWiN programme is an innovative business plan competition aimed at job creation by encouraging and supporting aspiring entrepreneurial youths in the country to develop and execute business ideas.
The Minister of Finance, Mrs. Kemi Adeosun, gave the figure while releasing N125.64m for disbursement to the final 61 beneficiaries in the third edition of the programme.
Adeosun, according to a statement by the Director of Information in the ministry, Salisu Dambatta, said out of the entire amount of N10.99bn, the sum of N8.39bn was disbursed by the President Muhammadu Buhari-led administration.
“By January 2018, the total amount disbursed to beneficiaries of the third edition of the YouWiN programme will be N11,121,031,260, of which the current administration has disbursed N8,522,545,038,” she was quoted to have said.
The amount was disbursed to 1,500 beneficiaries, who have started or expanded their business across a variety of sectors, including Information and Communication Technology, manufacturing, services and agricultural production and processing, the minister noted.
Other areas covered under the third edition were fashion and entertainment, while technical support was extended to over 18,000 beneficiaries in the areas of access to markets and finance as well as capacity building in business management, accounting and operations.
Adeosun had shortly after assumption of office reviewed and restructured the YouWiN programme and gave it a new focus for sustainability.
The programme is currently providing online capacity building to more than 61,000 beneficiaries across the country.
The next stage of the programme will involve sector-specific in-class training to successful beneficiaries and the development of franchise infrastructure.