The Minister of Finance, Mrs. Kemi Adeosun today disclosed that the Federal Government had paid N10,995,391,260 to beneficiaries of the Youth With Innovation in Nigeria (YouWin) programme between 2015 and last year.
This is even as a new tranche of N125,640,000 will be disbursed to some beneficiaries before the end of this month. This will bring the total disbursement to N11, 121, 031, 260.00
Adeosun, who made the disclosure while approving the release of N125, 640, 000 for disbursement to the final 61 beneficiaries of the third edition of the programme, said that disbursements by the present administration out of that amount stood at N8, 396, 905,038 billion.
She explained: “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 announced.
According to the minister, the amount was disbursed to 1, 500 beneficiaries who have started or expanded their businesses across a variety of sectors, including Information and Communication Technology (ICT), Manufacturing, Services and Agricultural Production and Processing.
She listed other areas covered under the third edition to include, Fashion and Entertainment, while various technical support were 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.
It would be recalled that on assuming office the Minister of Finance, Mrs. Kemi Adeosun reviewed and restructured the YouWin Programme to YouWinConnect and gave it a new focus for sustainability.
YouWiNConnect is currently providing online capacity building to more than 61, 000 beneficiaries nationwide.
The next stage of the programme will involve sector specific in-class training to successful beneficiaries and the development of franchise infrastructure.