₦airaland Forum

The Bank of Industry (BoI) has received over 13,272 online applications in two weeks for its N10 billion facilities earmarked for on-lending to small businesses under its Youth Entrepreneurship Support (YES) programme.


In a statement, BoI’s Acting Managing Director and Chief Executive, Waheed Olagunju, said that the geo political analysis of the applicants showed that Out of this figure, the North East is leading with 1,300 applicants followed by South West with 1,150 and North Central with 663.

“The fact that the bank received more than 13,272 online applications as at 1st April, 2016 – two weeks after the scheme was launched which is in excess of the 10,000 applications that were projected to be filed in six weeks, is an indication of the wide acceptance of the YES Programme amongst Nigerian Youths across the country ,” he said.

According to him, North West accounted for 634 of the applications while 526 applications were received from South South and South East recorded the lowest with 204 applications.

Olagunju explained that considering the enthusiastic response to the YES Scheme at this early stage, the bank and its 11 partnering enterprise development institutions were taking proactive steps to increase the number of the applicants that would attend the five-day capacity building sessions at eight centres in the six geo political zones of the country.

He added that the fund size would also be increased to meet the escalating number of applicants that could potentially be transformed into becoming successful entrepreneurs, in the required critical mass and ultimately employers of labour.

The YES initiative was designed by the bank to address youth unemployment in the country. The bank is partnering 11 development partners in building capacity of the youths by equipping them with the requisite entrepreneurial knowledge and skills while BoI funds their business plans, to enable them to be self-employed and manage their own businesses.

Lemon12:
southeast recorded the lowest with 204 application? or '204' slots were allocated to southeast

barbiesparkz2:
I don't understand this maths:
1300(NE) + 1150(SW) + 663(NC) + 634(NW) + 526 (SS) + 204 (SE) = 4,477 applicants
But the report said over 13000 have applied so far.
Something's not right here. Anyone see this?

datola:
How come the North East is leading?

PassingShot:
Very good development.

Jobless NLers wailing, you have an opportunity to put together a good business proposal, apply for this loan and hope you're successful at the end.

Don't waste your time wailing about PMB online. He is not the cause of your pathetic and unfortunate situation.

Good luck as you heed this advice.

modath:
Everything is not rigged to scheme you out, this is only the application stage not allocation/approval.. yet...Learn to read & apply sound judgement...

Probably more SE youths would have applied if they weren't fearful of the missiles that will be directed at them by ethnic jingoists....


P.S ... Even the total applicants doesn't tally with the 13k in the header, seems Vanguardngr is doing the usual..

francizy:
Modaft boo...

Eku fuel scarcity and lack of power supply oh!

modath:
Fran-shitty of liffeee

Haaa, so na why you nor fit charge ya chinko walkie talkie be dat since? Eyaa, sorry...

Me nor get ya kain "fobrem" Power supply is ok in my area, i also be fuel station attendant, so no P..

Lemon12:
southeast recorded the lowest with 204 application? or '204' slots were allocated to southeast