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Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 - Business - Nairaland

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Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by Ipisi(m): 3:50pm On Sep 14, 2016
BoI increases on-lending fund for SMEs under YES scheme


Following the turnout of applicants for its N10 billion facility earmarked for on-lending to small businesses under the Youth Entrepreneurship Support (YES) programme, the Bank of Industry (BoI) has concluded plans to expand the fund size as well as accommodate more candidates under the scheme.

Specifically, the bank noted that due to the high rate of applications received for the YES initiative, it would increase the size of the fund from the initial N10 billion, while considering an increase in the number of would-be loan beneficiaries from 1,200 yearly to 4,000 candidates.

Speaking at the assessment exercise of the initiative and inauguration of a seven-man panel to serve on the application screening committee in Lagos, BoI’s Acting Managing Director, Waheed Olagunju, noted that out of the 40,000 applications received, 15,000 or 37.5 per cent were properly completed and thus qualify for consideration for the first segment of the entrepreneurship capacity building programme which is the eight weeks online training component.

“This programme was launched in response to the alarming unemployment problem among Nigerian youths. Having noticed the huge volume of registration on the online portal of 40,000 which has far outstripped the 10,000 entries earlier envisaged by 300 per cent over the six-week period, we have come to the realisation that Nigerian youths have enormous entrepreneurial appetite waiting to be unleashed on the nation’s economy in a positive sense.

“We have therefore come to the conclusion that we should provide more opportunities for the youth by increasing the number of would-be loan beneficiaries from 1200 to 4000. Efforts would be made to ensure a fair distribution of the beneficiaries in consonance with the proportion of entries received from the six geopolitical zones”, Olagunju added.

Minister of Industry, Trade and Investment, Dr. Okechukwu E. Enelamah, while inaugurating the committee, commended the bank for the initiative, saying, “I am quite satisfied with the implementation of the YES-Programme thus far, considering the calibre and quality of the facilitating institutions. The candidates’ screening and evaluation process are transparent, merit-based and in line with global best practices.

“The synergy created by the consultants working in concert with BoI’s in-house team, will undoubtedly manifest in the quality of young entrepreneurs that will be produced under the programme.

“The import of the overwhelming response by our youths to the YES-Progammes is a manifestation of their desire to take control of their destinies via the entrepreneurial route by being self –employed. It is therefore apparent that the earlier envisaged 1,200 would-be loan beneficiaries would fall far short of the yearnings of the aspiring young entrepreneurs.

“I would like to assure our youths of Federal Government’s absolute commitment to its financial inclusion programme. Government will endeavour to meet the aspirations of youths by providing the support needed by BoI to successfully implement the YES-programmes”.

Members of the application screening committee include the Acting Managing Director, Waheed Olagunju, Executive Director, Financial Inclusion, Mrs. Toyin Adeniji, Divisional Head, SME (North), Abdul-Ganiyu Mohammed, Divisional Head, SME (South), Umar Shekarau, and three other eminent members made up of successful entrepreneurs, professionals, retired bankers, SME consultants.

http://m.guardian.ng/business-services/industry/boi-increases-on-lending-fund-for-smes-under-yes-scheme/

2 Likes

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by Jethrolite(m): 5:10pm On Sep 14, 2016
Good development.
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by herzern(m): 5:17pm On Sep 14, 2016
Niqeria's a messed up Country!.....

Ion think loan can help anyone....

A friend of mine ventured into all this shop bettinq aqent.....The business is really a cool one....The first month....He made a whoopinq sum of 70,000 naira....When he calculated the amount he used in purchasinq fuel throuqh the whole month....it sum up to 55000......

He paid his worker 15000....

5000 left.....

Won't he eat??...

Cloth??...

Shelter??...


The Guy no do ham aqain qan sev......

8 Likes 1 Share

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by herzern(m): 5:17pm On Sep 14, 2016

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by usmanktg2(m): 5:18pm On Sep 14, 2016
This was done few months ago (YES Round 2), why bringing up the news now? must the FG politicize everything?
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by junnyjake(m): 5:19pm On Sep 14, 2016
let's see
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by teampregar(m): 5:19pm On Sep 14, 2016
Good Initiative.. Anyways FTC (remove those 2 rubbish wey my broda herzern but for der)... FTC na FTC, Fourth to Comment Y'all
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by kaysy(m): 5:21pm On Sep 14, 2016
Let's hope so
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by salabscholar01(m): 5:21pm On Sep 14, 2016
ok
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by Ehins22(m): 5:21pm On Sep 14, 2016
cheesy
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by barclayb(m): 5:23pm On Sep 14, 2016
Ok
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by FunkyMetahuman: 5:23pm On Sep 14, 2016
Nice


How do we apply?
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by Jafar1: 5:24pm On Sep 14, 2016
SO SOMETHING GOOD CAN REALLY COME OUT THIS BUHARI ECONOMY

1 Like 1 Share

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by herzern(m): 5:24pm On Sep 14, 2016
teampregar:
Good Initiative.. Anyways FTC (remove those 2 rubbish wey my broda herz.ern but for der)... FTC na FTC, Fourth to Comment Y'all

biko!...nah network.....
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by Ask4bigneyo(m): 5:25pm On Sep 14, 2016
As usual

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by ultmatmus(m): 5:27pm On Sep 14, 2016
Nice but this should not be a scam like aso villa demo day

1 Like

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by Nobody: 5:28pm On Sep 14, 2016
grin...
WAILERS FOOOOODU DON READYYYYY WOOOO !

1 Like 1 Share

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by Jethrolite(m): 5:28pm On Sep 14, 2016
herzern:
Niqeria's a messed up Country!.....

Ion think loan can help anyone....

A friend of mine ventured into all this shop bettinq aqent.....The business is really a cool one....The first month....He made a whoopinq sum of 70,000 naira....When he calculated the amount he used in purchasinq fuel throuqh the whole month....it sum up to 55000......

He paid his worker 15000....

5000 left.....

Won't he eat??...

Cloth??...

Shelter??...


The Guy no do ham aqain qan sev......
Lol, things will improve. That was just his first month.
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by uzowulu8(m): 5:29pm On Sep 14, 2016
How can one apply? Even for next year.
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by Nobody: 5:29pm On Sep 14, 2016
Ask4bigneyo:
As usual
.... undecided

1 Like

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by DEIFIED(m): 5:30pm On Sep 14, 2016
I dont fancy All this kind of programs because its just temporary, and the may reasons for setting it up by the govt. Are most times not achieved, and public funds will be wasted on it. We have seen such programs in the past. Nigeria just need help thats all.
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by 3sexy: 5:33pm On Sep 14, 2016
Loan not Grant angry


Not interested !

Got grant in the past administration , this govt is poo

3 Likes

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by junnyjake(m): 5:41pm On Sep 14, 2016
3sexy:
Loan not Grant angry

Not interested !
Got grant in the past administration , this govt is poo
Youwin? How much did you get?

2 Likes

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by SONofYORUBA: 5:50pm On Sep 14, 2016
herzern:
Niqeria's a messed up Country!.....

Ion think loan can help anyone....

A friend of mine ventured into all this shop bettinq aqent.....The business is really a cool one....The first month....He made a whoopinq sum of 70,000 naira....When he calculated the amount he used in purchasinq fuel throuqh the whole month....it sum up to 55000......

He paid his worker 15000....

5000 left.....

Won't he eat??...

Cloth??...

Shelter??...


The Guy no do ham aqain qan sev......

Was your application denied?

3 Likes 1 Share

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by Nairadays: 5:52pm On Sep 14, 2016
Youth Empowerment can only strengthen the youth's resolve for success and a better tomorrow.

2 Likes

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by samadexextral: 5:58pm On Sep 14, 2016
kudos BOI and MR OLAGUNJU

2 Likes 1 Share

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by musicwriter(m): 6:05pm On Sep 14, 2016
Giving money to traders or so called entrepreneurs is not development. The money would have better been spent on scientific research and development.

Example; (1). Centre for Nikel research and development.
(2). Centre for alternative energy research.
E.t.c.

Or, if the money must be given to an entrepreneur it must be invested on any venture that strictly have the entrepreneur ''manufacturing'' something we need in Nigeria, even if its toothpick, matches, candle. Or something that could be exported to earn foreign exchange.

Otherwise, the so called entrepreneurs would only end up using the money to import more trash into the country and thereby putting more pressure on Dollar-Naira rate. In that case the FG is literally shooting itself on the foot in the long run!

Africa will continue to be poor, because education has failed woefully. Our leaders don't even know what constitute development.

2 Likes

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by rusher14: 6:10pm On Sep 14, 2016
3sexy:
Loan not Grant angry


Not interested !

Got grant in the past administration , this govt is poo

Good.

So you must be an employer of labour now.

Life is sometimes like that some people get grants others get loans.

At all at all na him bad pass.

2 Likes 1 Share

Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by CaptainRahl(m): 6:13pm On Sep 14, 2016
Re: Boi Increases YES-P Would-be Loan Beneficiaries From 1,200 Yearly To 4,000 by eph12(m): 6:13pm On Sep 14, 2016
herzern:
Niqeria's a messed up Country!.....

Ion think loan can help anyone....

A friend of mine ventured into all this shop bettinq aqent.....The business is really a cool one....The first month....He made a whoopinq sum of 70,000 naira....When he calculated the amount he used in purchasinq fuel throuqh the whole month....it sum up to 55000......

He paid his worker 15000....

5000 left.....

Won't he eat??...

Cloth??...

Shelter??...


The Guy no do ham aqain qan sev......
Tell that your friend to stop being foolish. How can a betting shop spend 55k on fuel in a month? He dey drink am? Mstxheww

1 Like

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