By Sunday Ani

A social entrepreneur, Comrade Kennedy Iyere has launched a business financing intervention programme to support youths and women entrepreneurs in Nigeria.

Tagged, ‘FUND-YES,’ the business financing scheme, launched recently at the Merit House, Maitama Buja, is part of Iyere’ efforts to cushion the adverse effects of the economic situation ravaging youths and women, not only in Nigeria but also in Africa in general.

The unveiling ceremony of the scheme attracted top business leaders, bankers, executives of nongovernmental organisations (NGOs), civil society organisations (CSO) directors, religious leaders, the media community, business networks, youth and women groups, among others.

“Today life is becoming tougher for the youths and women in Nigeria, with millions of youths roaming the streets in utter frustration, and without hope of a meaningful future ahead of them.

“Even with their degrees, millions of youths have remained unemployed for lack of job opportunities. It is, therefore, not a surprise, that Nigeria’s youths have become more restive, posing security threats beyond the usual. If nothing is done to drastically tackle high youth unemployment in Nigeria, the country will soon hit its point of political collapse when angry youths will translate their frustration into a social revolution.

“The right way to avert this looming disaster, is to create economic and job opportunities for the youths and women, but under the current economic circumstances, entrepreneurship remains the only option available,” Iyere stated.

He stressed that the Nigerian youths and women are hardworking people, who if supported with funds, would turn themselves into successful entrepreneurs. He added that the need to offer such assistance was the key factor which inspired and propelled him to establish the entrepreneur fund.

He said: “This project is a joint business financing programme and enterprise development fund for youths and women in need of funding assistance, to enable them to start up micro or small businesses or to scale up and grow their existing micro and small businesses into medium-sized enterprises.

“It will provide flexible business financing opportunities for youths and women to engage themselves in various entrepreneurship schemes and become owners of their own businesses and creators of their own jobs.”

He maintains that entrepreneurship is the panacea for Nigeria’s chronic youth unemployment, the high crime rate among youths, as well as the security risks that are associated with these factors. “It is also the solution to the country’s menace of extreme poverty, hence, women have been captured as equal beneficiaries of the scheme just like the youths. It is a multifaceted business financing scheme, anchored by the Youths Off The Street Initiative (YOTSI), in response to the need to lift millions of youths and women out of unemployment and poverty with a view to mitigating youth crime and helping women to reinforce household economic security, as many women are being empowered to make money to support their families,” he added.

The unveiling of the scheme was conducted by Comrade Kenneth Robinson, the National Organizing Secretary of Pan Niger Delta Forum (PANDEF), who is also the spokesperson of the Southern and Middle Belt Leaders Forum ( SMBLF), an alliance of key ethnic nationalities, comprising the Pan Niger Delta Forum(PANDEF), Afenifere, Ohanaeze Ndigbo and the Middle Belt Forum (MBF).

“The FUND-YES is an integrated business financing programme and enterprise development fund created to empower youth and women entrepreneurs, regardless of age, gender, ethnicity, state of origin, nationality, religious and political affiliations,” he said.

The first beneficiary, Ndandok Limaro Thomas, from Jaba Local Government of Kaduna State is currently undergoing an apprenticeship in carpentry training to become a Carpenter. She received an enterprise grant of N1,000,000, which was paid into her account for the purpose of enhancing her entrepreneurial pursuits.

Iyere assured that by partnering with banks, including Fidelity Bank, the scheme would support Thomas with N10 million once she completes her apprenticeship within the next six months.

The official recruitment of youths and women as potential beneficiaries of the empowerment scheme would begin this August.