N-Power: How Those Exiting Programme Can Access Startup Funds – Presidential Aide
Afolabi Imoukhuede is the Senior Special Assistant (SSA) to the NG President on Job Creation and Youth Employment, Office of the Vice President/File Photo
The Senior Special Assistant to the president on job creation and youth employment, Afolabi Imoukhuede has explained that those exiting the N-Power programme will soon have the advantage of accessing funds as the Bank of Industry (BOI) loans so as to ensure some kind of comfort.
Concise News reports that Afolabi was speaking with select journalists recently, where he addressed the N-Power project.
“That is one of the broad areas we are looking at as exit options,” the Presidential aide says.
“We have brought our Government Enterprise and Empowerment Programme (GEEP) counterpart to the table, who are already designing what could be the startup capital for each N-Power programme.
“The beauty of N-Power beneficiaries is that no matter what segment they were in, they learnt the business of cooperatives very well, understanding that my own N10, 000 savings cannot do much but if 10 of us come together that is N200, 000.
“So what we are looking at is with the startup kits we are looking to give them, cluster them as well so they can set up a garri processing cottage industry for instance.
“So if our startup is at N90, 000, they already have what it takes to start up the cottage industry and own it.”
The business strategist explains further:
“We also have NESA (a Lagos- based technology institute) which is ready to work with us in the 15 economic agric [sic] value chains that we have and we have spoken to Central Bank of Nigeria (CBN) which is ready de-risk because they know they have market for the produce.
“We are also speaking to state governors to give land through anchor-borrowers programme to these youths in agriculture.
“Also, we are working with The Bank of Industry (BOI) to give small loans.
“So we are also looking at taking up opportunities like community policing, of any copy wants to hire a number of people, we link them through job matching.
“That is why each time Mr President engages that he tells them, nobody is going to throw you back to the streets.
“The assurance to N-Power volunteers is that nobody is throwing any of them back to the streets because throwing them back to the streets negates the purpose of why we started it.
“So we ensure that you exit into something, it may not be Hilton comfort but some kind of comfort that enables us to bring in more people and recycle them as well and give them opportunity lifeline.
“Let us remember that as we expand the economy with all these programmes. We continue to create more opportunities for our young people and our not so young people as well.”