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BOI To Reduce Unemployment Rate By Single Digit by Nobody: 1:27pm On Mar 09, 2016
Worried by the rising number of unemployed youths across the country, the Bank of Industry (BoI) has expressed its desire to reduce the rate to single digit.
Acting Managing Director of BoI, Mr. Waheed Olagunju, stated this in Lagos yesterday at the Youth Entrepreneurship Support (YES) programme Memorandum of Understanding (MoU) signing ceremony with entrepreneurship capacity building facilitators in Lagos yesterday.
Olagunju said BoI was determined to reduce the 25 per cent unemployment rate to single digit, adding that youths account for more than 60 per cent of the country’s population figure, a development he said remained unacceptable to the bank.
The acting MD said for every N1 billion invested in Micro Small and Medium Enterprises (MSMEs), about 4,500 jobs were being created.
And to achieve the target of massive job creation, he said the Federal Government has expressed its willingness to support every initiative of the bank targeted at reducing the number of unemployed youths in the country.
He explained that the YES-Programme is another initiative of BoI designed to address youth unemployment in Nigeria with the first being the Graduate Entrepreneurship Fund (GEF) programme organised for serving members of the National Youth Service Corps (NYSC) launched in October 2015.
“The YES-Programme entails building the capacity of the youths by equipping them with the requisite entrepreneurial knowledge and skills as well as funding their business plans, which would enable them to be self-employed and manage their businesses,” he said.
According to him, participants would be drawn from young aspiring entrepreneurs between the ages of 18 and 35 years, with innovative ideas who must have a minimum educational qualification of an Ordinary National Diploma (OND) or its equivalent.
He explained that 10,000 online applications would be solicited nationwide, out of which 2,000 would be selected for the online component of the YES-Programme.
“Applicants will register online and will be expected to provide accurate answers to questions. Such answers count towards determining the suitability of the applicants for the training programme. Only the top 1,200 online participants will qualify for the in-class training programme annually.
“The in-class training will be delivered by BoI accredited partner training institutions and shall take place on a bi-annual basis at selected centres across the six geo-political zones of the country, including Lagos and Abuja. Consequently, 600 participants shall be trained at the designated locations twice in a year,” he stated.
On the components of YES, he said the programme involves eight weeks extensive online entrepreneurship and business management training, which has the ability to test participants’ understanding and track their progress.
Others are the Business Idea (value proposition and competition analysis), Business Model (how will the business make money), Sales and Marketing, Running a Successful Business (ethics, compliance, operations), Financial Plan.
The initiative, he said, will also involve technical skill training in partnership with the various technical training and vocational institutions in the country while financing of the businesses will be borne by BoI under its Small and Medium Enterprises (SMEs) cluster initiative in consonance with the United Nations Economic Commission for Africa’s Commodity-based Industrialisation Strategy.



http://www.sunnewsonline.ng/boi-to-reduce-unemployment-rate-to-single-digit/

4 Likes 1 Share

Re: BOI To Reduce Unemployment Rate By Single Digit by ShakurM(m): 12:41pm On Mar 10, 2016
Very good! Thank God this opportunity won't be 'man sabi man' type of thing.

1 Like

Re: BOI To Reduce Unemployment Rate By Single Digit by Akshow: 12:42pm On Mar 10, 2016
K
Re: BOI To Reduce Unemployment Rate By Single Digit by cosby02(m): 12:42pm On Mar 10, 2016
Everything on paper.

11 Likes

Re: BOI To Reduce Unemployment Rate By Single Digit by 5starmilitant: 12:42pm On Mar 10, 2016
S
Re: BOI To Reduce Unemployment Rate By Single Digit by allanphash7(m): 12:42pm On Mar 10, 2016
Yinmu
Re: BOI To Reduce Unemployment Rate By Single Digit by Ephemmm: 12:43pm On Mar 10, 2016
Hmmm.... Fake promises upon promises since the day of Jonathan to Buhari: hardly did this people realize that unemployment is an employment itself characterized with common silent question inside one's heart saying - 'when will it reach my turn'.

Well! Gone are the days sha: thank you Jesus.

9 Likes

Re: BOI To Reduce Unemployment Rate By Single Digit by Siberia101: 12:43pm On Mar 10, 2016
Nice. If it will not be politicised like SureP...
Re: BOI To Reduce Unemployment Rate By Single Digit by kennyman2000(m): 12:43pm On Mar 10, 2016
Hmmmm
Re: BOI To Reduce Unemployment Rate By Single Digit by Nobody: 12:44pm On Mar 10, 2016
Great development ! I pray it works out well
Re: BOI To Reduce Unemployment Rate By Single Digit by greatness22(m): 12:44pm On Mar 10, 2016
Hmm, fvck death, nah poverty me i fear pass...


God go bless our hustle.

1 Like

Re: BOI To Reduce Unemployment Rate By Single Digit by nnah123: 12:44pm On Mar 10, 2016
good
Re: BOI To Reduce Unemployment Rate By Single Digit by gsalvatore: 12:44pm On Mar 10, 2016
Have the desire.
Set to implement.
Are willing to.
Will embark on.


All these have one common denominator...
Re: BOI To Reduce Unemployment Rate By Single Digit by 8kingz(m): 12:45pm On Mar 10, 2016
gfg
Re: BOI To Reduce Unemployment Rate By Single Digit by abdool59(m): 12:45pm On Mar 10, 2016
Unemployment a plague in Nigeria.
Re: BOI To Reduce Unemployment Rate By Single Digit by Chinaimporter: 12:46pm On Mar 10, 2016
All these lazy nija youths waiting for manna from heaven.
when i finished my university and couldnt find a job i was introduced to a very good buiz by my friend in thailand and i travelled out and with determination, we where moving merchandize between thailand,afganistan,cambodia,iran and pakistan.
we dominated the suppy chain for about 4yrs until the americans left afganistan and taliban became more violent so i took my proceeds back to nigeria.Many of my hommies refused to leave and now they are virtually slaves in various prisons esp in thailand.i am now into snake farming and antitoxin production....i suppy many african country now and i am willing to train any smart and educated youth on the intricacies of this trade and there is no competition....The riskier the road, the higher the profit.

7 Likes

Re: BOI To Reduce Unemployment Rate By Single Digit by Strech(m): 12:46pm On Mar 10, 2016
Good to know
Re: BOI To Reduce Unemployment Rate By Single Digit by Benjom(m): 12:47pm On Mar 10, 2016
I hope they'll take it serious. The rate of unemployment in the country is alarming.
Re: BOI To Reduce Unemployment Rate By Single Digit by shamecurls(m): 12:47pm On Mar 10, 2016
Scam
Re: BOI To Reduce Unemployment Rate By Single Digit by Tonymegabush1(m): 12:48pm On Mar 10, 2016
I think it's a nice move, hope the training will be practical
Re: BOI To Reduce Unemployment Rate By Single Digit by eugene77: 12:48pm On Mar 10, 2016
Giving out business grants and soft loans are the best ways to practically curb the unemployement menace that is presently destroying Nigeria....
Re: BOI To Reduce Unemployment Rate By Single Digit by popesam1(m): 12:50pm On Mar 10, 2016
Abeg make them do that quickly because people they hungry for this country oo. Aja buhari gbera
Re: BOI To Reduce Unemployment Rate By Single Digit by ANBAKO: 12:50pm On Mar 10, 2016
If we can build on these laudable IDEAS as a nation and act on them, in few years Nigeria will become a better nation to live in


Do good for good to come your way.
Re: BOI To Reduce Unemployment Rate By Single Digit by aprokomania(m): 12:50pm On Mar 10, 2016
let us create a WhatsApp group to keep informed so that when the opportunity is at hand we can register asap
Re: BOI To Reduce Unemployment Rate By Single Digit by Kreamie(m): 12:50pm On Mar 10, 2016
....
Re: BOI To Reduce Unemployment Rate By Single Digit by Nicur: 12:51pm On Mar 10, 2016
APC - All Promises Cancelled angry

1 Like

Re: BOI To Reduce Unemployment Rate By Single Digit by scarr: 12:51pm On Mar 10, 2016
Omo no go wyne me with your Story O, Story Story O grin grin
Re: BOI To Reduce Unemployment Rate By Single Digit by Sweetcollins: 12:53pm On Mar 10, 2016
Oh lord remember us
Re: BOI To Reduce Unemployment Rate By Single Digit by abbeyman1798: 12:54pm On Mar 10, 2016
Yinmu

Re: BOI To Reduce Unemployment Rate By Single Digit by Nobody: 12:54pm On Mar 10, 2016
Constant power will drive employment up. That should be fixed first.

Productivity will be improved with constant power. Increase in productivity will mean more man power is needed to keep up production creating jobs.

1 Like

Re: BOI To Reduce Unemployment Rate By Single Digit by oluseyiforjesus(m): 12:56pm On Mar 10, 2016
Ok

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