CBN commences disbursement of N220bn to youths

The Central Bank of Nigeria, CBN, has commenced its Youth Entrepreneurship Development Programme, YEDP, funding through which part of its N220 billion Small and Medium Enterproses loan scheme would be disbursed.

Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, disclosed yesterday that the YEDP would assist Nigerian youths to massively produce food and other goods, the importation of which had put the nation’s foreign exchange reserve under pressure.

He told beneficiaries in Abuja, yesterday, that the youth entrepreneurs where part of the CBN programme of creating 1 million jobs in the next four years. According to the apex bank’s boss, “Youth entrepreneurs have been hindered in the past by lack of capacity and access to funding.

It is thus a matter of urgency to roll out the YEDP.    Our youths are full of ideas and we want to empower them to make the dreams realities. “We want to nurture your dreams, not only to be entrepreneurs but also to become employers of labour.
“We want to raise many Dangotes    from among our youth entrepreneurs.    We want our youths to build conglomerates and giant companies that can employ millions of Nigerians and produce goods for nor only local consumption but also for export.”