Senator Dino Melaye, a former lawmaker representing Kogi West in the Senate, has kicked against the federal government’s decision to donate N25bn to Nigerian youths to invest in a business.
In a post on his Facebook page, Dino Melaye stated that the decision was hasty and lacked an in-depth analytical framework.
He pointed out that the youths would instead use the money for feeding due to corruption and what he termed chronic infrastructure.
Dino Melaye: “The 25b naira donation to Nigerian Youth by the Federal Government to grow business is hasty, spontaneous and lacks an in-depth analytical framework for capacity building.
“With poor infrastructure and chronic corruption the money will be used to feed. The Government must be sincere with the people. SDM”
Recall that the Minister of Finance, Zainab Ahmed, had disclosed that the Federal Government had created a N25bn Youth Fund as part of efforts to address the EndSARS protests and other related youth restiveness across the country.
Naija News reports that the portal for Nigerians to apply for the federal government’s N75 billion youth investment fund has been opened.
The initiative – NYIF to the tune of N75 billion is being funded by the Central Bank of Nigeria (CBN).
The NYIF is dedicated to investing in the innovative ideas, skills, talents and enterprise of the Nigerian youth with the aim of turning them into entrepreneurs.
500,000 youths are expected to benefit from the funding targets.
A minimum of N25 billion will be disbursed each year over the next three years, totalling N75 billion.
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