In a bid to ensure that the problem of unemployment in the country is totally solved, the Bank of Industry (BoI) in collaboration with National Youth Service Corps (NYSC) have launched the N2 billion Graduate Entrepreneurship Fund (GEF).
The managing director of BoI, Mr. Rasheed Olaoluwa as quoting the National Bureau of Statistics (NBS) said that about 1.8 million young Nigerians enter the already saturated labour market every year while 50% of the youths are currently unemployed.
According to him,“The strategy is to identify the innate talents of the young graduates as soon as they leave school, build their capacities for self-reliance, and also empower them to establish their own businesses, thereby creating jobs not just for themselves, but also for other youths that they may employ.”
He also noted that about 1,000 NYSC members will undergo selection and screening processes through an online business idea competition which is aimed at helping them develop bankable business plans.
He said that, the process will form the basis for loan consideration.
The managing director of BoI, Mr. Rasheed Olaoluwa as quoting the National Bureau of Statistics (NBS) said that about 1.8 million young Nigerians enter the already saturated labour market every year while 50% of the youths are currently unemployed.
According to him,“The strategy is to identify the innate talents of the young graduates as soon as they leave school, build their capacities for self-reliance, and also empower them to establish their own businesses, thereby creating jobs not just for themselves, but also for other youths that they may employ.”
He also noted that about 1,000 NYSC members will undergo selection and screening processes through an online business idea competition which is aimed at helping them develop bankable business plans.
He said that, the process will form the basis for loan consideration.
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