The Nasarawa State government, in collaboration with the Bank of Industry (BOI), is set to disburse revolving loans to a new batch of youths in the state. This initiative aims to support young entrepreneurs and boost economic development in the region.
Ahead of the disbursement, a town hall meeting was held with youths and other stakeholders. The meeting served as a platform to educate new beneficiaries on the loan procedures and gather feedback on the scheme.
Habiba-Balarabe Suleiman, Director General and Focal Person of the Nasarawa State Human Capital Development Agency (NSHCDA):
“The state government has signed a Memorandum of Understanding (MoU) with the Bank of Industry (BoI) for a Youth Revolving Fund Scheme worth N500 million. The state government has already released N250 million to BoI as part of its commitment. Many youths across the state have benefited from the scheme and are thriving in their chosen businesses.”
Objectives of the Town Hall Meeting
– Feedback Collection: The meeting aimed to gather both positive and negative feedback from previous beneficiaries to improve the scheme.
– Education on Loan Procedures: The event provided an opportunity to educate new beneficiaries on the loan procedures and financial regulations associated with the Youth Revolving Fund Scheme.
– Experience Sharing: Attendees shared their experiences and knowledge, contributing to a valuable exchange of information.
Commitment to Youth Empowerment
The Nasarawa State government and BOI have continuously reviewed the MoU to streamline the process and make it easier for prospective beneficiaries to access the funds.
Habiba-Balarabe Suleiman:
“We had a lot of feedback, some positive and some negative. As a government that listens to its people, we decided to hold this town hall to share experiences and knowledge and then give out new information on the financial regulations concerning the Youth Revolving Fund Scheme. We are happy that the town hall is a success. We had a valuable exchange, and hopefully, moving forward, we are going to have a better understanding and an accelerated process for the beneficiaries.”
The Nasarawa State government’s collaboration with the Bank of Industry through the Youth Revolving Fund Scheme demonstrates its commitment to youth empowerment and economic development.
