Contrary to earlier reports published in a top Nigerian newspaper on how the federal government’s Youths Entrepreneurial Support (YES) Programme in collaboration with Bank of Industry (BoI) empowered youths through the loan disbursed, fresh investigation by FINANCIAL WATCH has revealed that the news is false and no participant have benefited from the scheme.

FINANCIAL WATCH reached out to YES-P participants across the country and got some shocking response filled with disappointments, frustrations and a feeling of a waste of time by participants who could not meet up with the stringent conditions as well as some few who meet the requirements but are still yet to secure the loan to start their various businesses.

Below are experiences as shared by BoI YES-P participants across states in the country:

Joy Mbalaso – YesP participant, Abuja
Almost one (1 )year down the line, no significant achievement on the BOI YesP programme. An intervention programme that havent intervened in any way.

The conditions are very stringent and not even 2% of the total qualified participants have met them.

The youths are ready to revive the economy but no reasonable support from the government and other stakeholders. BOI should step down on the conditions and release these funds to YesP participants.

Also, recovered looted funds should be awarded to youths as grants to boost the Nigerian economy.

Etini Obot -YESP participant, Akwa Ibom
I have lost faith entirely in the process of getting the YES-P loan. The conditions for securing the loan are very frustrating and a near impossible task. The program has not been able to achieve its objectives hence, many innovative ideas have been left to die due to this delay.

Ndukwe lazurus yesp participant from Ebonyi State
Boi yesp loan is fraud of the highest order, government want to empower entrepreneur youths in the country only to ended up frustrating them, saping the little resources we have, we started this programme on march last year we undergoes intensive online training which cost a very big amount of money, after we proceed to in class training. we were responsible for accommodation and transportation for 5days, after all this processes BoI being to play all manner of prates bringing conditions upon conditions every day to frustrate us, from one guarantor to two guarantors, networth notarize assets etc, mr Ezekiel the requirements for loan is too much for the youth and is evil for government that want to empower her youth even Nebuchadnezzar cannot demand such from his youth, if at the end of all this appeal and media protest fg could not intervene i will conclude that also that apc lead government is deceit and liar and that government is ruling by falsehood,you cannot tell us one thing and change it overnight it is pure wickedness on BoI and FG.

Uba Prince Yes- Paticipant, Benin
The YES-P program has no face, seems its to frustrate the Nigerian youth as an entrepreneur, having visited their office at Asaba and was ask to get my factory site which I lease since October last year, they latter came up with demands that makes the loan in accessible by a common Nigerian. Their requirements shows this is no longer and intervention fund aim at supporting young business minds as the Yes-p program stated.

Abiodun From Kaduna
The disbursement of the loan is taking a long time, with the way prices are changing daily. It will take a miracle for the amount later disbursed to correspond to the quoted prices.

Obajemu Femi Kano
Its a painful experience and Yes p scheme is a failure. I was asked to lease a place before I would be inspected. After paying 340,000 naira to lease a ware house since November last year and has not heard anything since after inspection. BOI should open up to us if they don’t want us to access the loan. Am seriously getting frustrated because my rent is already reading.

Nomsu Audu- Kaduna
I can’t stop to imagine why Federal Government would spend such a huge amount of money to train successful participants through the online training which cost huge amount of money (an average of $450/participant) and later come up with stringent conditions that are nearly impossible for participants to meet.

I feel some set of people are politicizing the scheme against the federal government wish to cause hate on the present administration.

If FG call YES-P an intervention scheme, I see no reason why young entrepreneurs should be intentionally frustrated to the point of given up on their dreams.

Such funds in developed countries are given as grants. Why all this unnecessary and near-to-impossible conditions?

Curtis, Makurdi
Yes-P would never have been hinged on loans. It should have been grants with good conditions and nice checking or supervision apparatus. What we have been offered after a precious investment of our time and money is just a near waste of time. I implore the fed. Govt To stick to their earlier promises and stop this shame.

Adesola Fashoro Kaduna
It’s a total waste of time and waste of youthful resources. I applied for this programme because the condition that was earlier advertised were much more lenient. But after spending my hard earned cash on data for the 3 months online course and frustrated myself to be able to attend the in-class session, I am yet to get a single individual to guarantee the loan owing to the manipulative and never ending conditions.

Muhammad Awwal A YES-P participant based in KADUNA.
In my opinion the YES-P is a laudable initiative but fraught with poor implementation and stringent loan terms.

The three months online training under the AMI platform is a good one which all participants can attest to but my concern is why should FG expend such huge funds in training and engage consultants across the country for the one week in class training without looking at the participants empowerment aspect which to me is the most important objective of the scheme!

Participants across the country are seemingly frustrated by the stringent loan terms, longer than necessary delays and processes.

I hope FG can step in towards alleviating bottlenecks placed before young entrepreneurs yearning to contribute their quota to national development through our businesses that can create primary and secondary jobs especially at this time of economic recession!

Frank Edna YESP participant Calabar Cohort 1
I spent so much resources, efforts, time to make sure my three months online courses where completed. I travelled far to participate in a week’s in-class training. I also spent so much money to fix my business plan in place.

When it was time for final submissions, conditions that were so stringent that I couldn’t meet up laid me back.

If this opportunity will be taken away from me after so much efforts, I should be compensated for the time, data, and all that went with the training.

I shouldn’t be a loyal Nigerian doing my part to succeed in this present economy the government is putting up some funny policies to discourage me.

Source: http://www.financialwatchngr.com/2017/02/12/fg-boi-frustrates-yes-p-scheme-participants-shares-sad-experiences/

Very sad.

I'm glad my wife didn't stress it out.

lol

youwin wannabes


woeful govt and woeful cabinet

woeful vegetable called President

Hmmm...YES-P was conceived and designed by FG to punish young nigerian entrepreneurs for trying to rescue a dying economy. lt is a total waste of time but FG can't kill our dreams.