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Nigeria: FG Floats Youth Empowerment Fund
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This Day (Lagos)
14 May 2008
Posted to the web 14 May 2008
Onyebuchi Ezigbo
Abuja
The Federal Government yesterday said it would inaugurate a special fund to promote entrepreneurial ideas among youths, who otherwise lack access to loans and other financial services.
Minister of Youth Develop-ment, Senator Olasunkanmi Akinlabi, who made the disclosure at the 2008 Ministerial briefing in Abuja, said in recognition of the serious limitation posed to National Development by the ever growing number of jobless youths.
He said work on the Fund has reached advanced stage, adding that the President has already approved that a memo be presented to Federal Executive Council on the issue.
Akinlabi said the idea is in line with the Federal Government's main policy thrust on the youth development agenda, which is to improve employment opportunities for young people by enhancing prospects for self employment and encouraging a culture of entrepreneurship.
Speaking on projects executed by the Ministry, Akinlabi said work on the youth development centre, Owode Egba, in Ondo State, have been completed while another one is located in Shere, Jos, Plateau State, will be commissioned before the end of the year.
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"I am happy to report that we have completed theOwode Egba Youth Development Centre, which was started 25 years ago. The second, Shere Youth Development Centre in Jos, is billed for completion before the end of the year," he said.
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