₦airaland Forum

jmaine:
I think it will amount to N500 billion and not 5 trillion . . . . . .Kindly recheck your calculation . . . .

Sweetguy25:
The youwin grant is meant for entrepreneurs with the most feasible and viable business plans. It is NOT a lottery. If you apply and you were not selected among the finalists, it means that your business plan was not impressive enough and it was deemed to be unfeasible.

socialmediaman:
It's N500 billion actually, not N5 trillion, it's very feasible. As long as it's not a grant. Some developed countries give this in form of credit to their citizens as a social security benefit. Serious people will succeed when given opportunity

socialmediaman:
I've been to many shops abroad and each time I tell them something is expensive, they immediately offer "you can finance it", I studied the system and I understood government pumps money into the economy through the banks and companies to encourage the system to offer financing and mortgage to individuals, but that money is not free, you'll pay it back with interest except student loans and some specific non-interest financing options. This is a system that helps you succeed when you need help. Given same opportunity, Nigerians will take this nation to the next level with successes in various sectors, that's why I get pissed at so much waste going on in the system while Nigerians just need a little push to succeed

Sweetguy25:
There's already a 220 billion naira fund for SME's setup by the CBN in 2013. So why should the government setup another?

Sweetguy25:
Under GEJs administration, so much money was pumped into the system for entrepreneurs to access and fund their businesses but they were not being utilized. People don't know how to access them, business plans prepared by the entrepreneurs were very poor and lacking in substance, there was also no security to ensure that the loans will be repaid (even though the interest rates were very low). In advanced countries, these problems barely exist.

jmaine:
The OP should get a life and stop being a silly nuisance . . .

socialmediaman:
Unlike Youwin which was open and didn't require so much bottlenecks and bureaucracy, the CBN SME loan scheme, just like Bank of Industry loan scheme, required collaterals like you would provide when obtaining loans from a commercial bank, the only difference being lower interest, how many entrepreneurs can meet up with such stringent requirements? You have most of those loans lying idle and still being utilized by bigger companies who used it as a means of bypassing higher interest loans from commercial banks. These programs were not meeting their intended beneficiaries, if they were, you won't need a soothsayer telling you GEJ's programmes were working, they were simply not.

socialmediaman:
As you can see in this photo, President Jonathan was using the YouWin programme as a bait for Nigerians to support his collapsing fraudulent empire. Only 1,500 people were benefitting annually out of millions of Nigerians yet the president was using it to boast of meaningful job creation. The programme was supposed to continue this year, at least for the last time since his government was ending, but instead, they kept postponing it till after the election and since then, nobody has even updated the website. I know some people who voted him in anticipation that the programme will benefit them. Pity!

The president has instead embarked on last minute appointments and "share remaining political offices" before he leaves on May 29.

When you're told that Jonathan loves the cabals more than he loves Nigerians, believe it!

Real scam!

ECOTERRORS:
the youwin is designed in such a way to benefit the beneficiary and also to create a direct and an indirect job. Op I've got a friend that won this youwin without him knowing anyone but only after his business plan was approved. You can give me a pm lemme link you to him for you to come for veification.

I stay in Lagos and also the guy.

Feel free to continue to wallow in ignorance

socialmediaman:
If these programmes were not working, it was the fault of GEJ's implementation plan, not Nigerians. Other countries issue Social Security IDs to their citizens tied to their bank accounts. GEJ could've done same, ensuring that when you default, all banks and financial institutions will know and you can't hide. The implentation system was simply lacking and serious people couldn't aceess it. You can't keep blaming the system when you're the government who should put the checks in the system.

Sweetguy25:
The collateral wasn't more of an issue than a lack of feasible business plans. You can't simply blame it on stringent requirements. You can as well say that we lack innovative and serious minded entrepreneurs in Nigeria because that seems to be more of a problem.
The scheme has its beneficiaries, they are not too many because banks started to disburse the funds late last year but there are beneficiaries.

Sweetguy25:
I doubt if you know what you’re saying. You’re nothing but an armchair critic. You just sit and imagine what the FG should have done and what not, without imagining if they hadn’t thought about what you’re thinking in the first place.

socialmediaman:
The collateral was a major issue. I was privileged to attend business forums in different parts of the country where intending beneficiaries complained bitterly about the stringent policies of the programme, even after meeting up the business plan requirement. You won't know these problems exist if you don't listen to people on ground and work with them to ensure a successful project. Most of the organizers of these programs were arrogant, they don't listen, and when people cannot access your programme and you keep blaming their inefficiencies, you'll end up not having a successful implementation. People are qualified for these things, believe me, but the system is just too stringent with the wrong people implementing it. If Okonjo Iweala and co as coordinators of the Youwin had a successful implementation without much bottlenecks, even in their limited capacity, then why would other agencies be in the habit of blaming the beneficiaries for their poor implementation policies? I bet you, if these same people were implementing the Youwin, you'll hear the same story. So you mean to tell me that Nigerians can no longer write or even consult people to write business plans for them? Haba, even many of the Youwin winners had people write their business plans for them so this can't be the problem.

Ariel20:
Very silly approach & panacea to an epidemic problem like unemployment.

Make the economic condition favorable & jobs would come up

socialmediaman:
That's the problem with mediocrity. It makes you think that the government knows it all and you accept everything they give you without question. I was at the office of a minister to ask why a sector of the economy was not being promoted and empowered and I was surprised these people were listening and taking notes of my suggestions and went on to implement a successful project in that category. Most of their input come from the public, but when they don't listen, they fail in many instances

Sweetguy25:
Some classes and levels of these loans don't need stringent requirements like some others. For example, I know that the bank of industry don't require collateral for loans below four million naira. All they need is a reliable guarantor to guarantee that the money will be repaid. The people complaining about the stringent collateral requirements are just unserious. Hiring someone to write your business plan is one thing, defending, implementing and sustaining it is another thing entirely and this is where they fail woefully.

socialmediaman:
Well, we both have different points of view on this, the fact remains, these programmes didn't get to most of the intended beneficiaries and so they failed. The government failed, simple. It's not about how many projects you started, it's about how many you completed and how many benefitted the intended beneficiaries and solved the problem

Sweetguy25:
Its not celebrating mediocrity but acknowledging that policy makers encounter bottlenecks that hinder policy implementation. Buhari has already listed the bottlenecks and challenges his administration will face and he doesn't even know how to solve them. If you've never been a policy maker in Nigeria or asked one about the challenges they face, then I doubt you'd ever understand.

Sweetguy25:
Government can't be blamed for every problem they encounter while trying to implement policies and programs. It doesn't mean they failed.

When INEC started to issuing PVCs late last year, people who relocated from where they were issued temporary cards couldn't collect their PVC and ultimately, they couldn't vote. Will you blame INEC or the people who relocated?

socialmediaman:
You raised some important point: Buhari has listed his challenges. That's a starting point. If you don't identify your challenges and goals and write them down or list them, you will never solve them because you may not even see them as serious challenges, just like a man doing a business without a business plan. Buhari has opened the floor by listing his challenges and it won't be long before he finds solutions, that's if he hasn't found already.

socialmediaman:
INEC provided an opportunity for people who have relocated to request for their PVCs to be transferred to their new locations, good job. Their system was commendable, without transferring your PVC you can't use it to vote in another location because the law barred electronic voting.

Sweetguy25:
But many people were unaware of this information and as a result, millions of people did not collect their PVCs. In other words, INEC failed.

Sweetguy25:
Can you also say that policy makers in GEJ's administration listed their challenges and found solutions to them?

socialmediaman:
INEC used many channels to publicize these information, they didn't create bottlenecks that make it difficult to collect your PVC If you've relocated. They didn't insist you have to go back and collect it from where you registered, they took these things into consideration based on prevailing circumstances in Nigeria, that's a good job. If they had created bottlenecks in the system, I'll agree they failed but they didnt

socialmediaman:
Some did, many didn't, especially the crucial ones that could've benefitted most Nigerians, like the youth empowerment programme organizers at the bank of industry and CBN. You want to empower people and you're hiding the information from them?

Sweetguy25:
They didn't fail. The information was there for entrepreneurs to see and those who utilized the information were rewarded. Thousands of entrepreneurs received funding at little or no interest rates in this administration. Why should the government be blamed for those who didn't?

fistonati:
If u do not know, u beta ask. sentiment apart, i hv 4 persons dt won it & i knw dem frm source. Stop misleading people oooo

socialmediaman:
You're too angry to have an objective discussion with your display of arrogance and lack of reason.

To the topic, personally I support removal of subsidy, but not by a government who cannot fight the corruption in the sector. If you remove subsidy without fighting corruption in NNPC and the ports, you end up creating artificial scarcity because importers will hoard the product so the pice can go up before they sell, and you end up plunging the nation into crisis.

On the Youwin programme, yes it's a lottery. Even with a good business plan, you could still not qualify because only 1,500 have to be selected out of 6,000 finalists. And I wasn't talking about a welfare package, 50,000 entrepreneurs can be empowered with 10million naira each, yes that's just 25% of what the government was paying subsidy cabals and nothing happened. By the way, I never supported that money being a grant, this is a support programme and the money should be in form of a repayable long term credit facility, like on a 20-year repayment plan. Any serious business entrepreneur would even want to take a Loan for his business, but since Nigerians were not getting business loans without collateral, this should be a way of giving them non-collateral interest-free credit facility for viable businesses.