In furtherance of the resolve of his administration to give priority to provision of jobs to the teeming unemployed Nigerians, President Goodluck Jonathan Monday launched a $50million Venture Capital Fund also known as the YouWin Small and Medium Enterprise fund.
The event, which took place at the Banquet Hall of the State House, was launched alongside the fourth round of the Youth Enterprise With Innovation in Nigeria (YouWin).
According to him, it is expected to create additional 1500 entrepreneurs.
Jonathan had this to say about the programme, “This fund will identify and further empower a few of you, some who are here and some new people that will join us, that are interested in
expanding what they already have through the you win or even starting new businesses”.
He said further that the new fund will be managed by independent fund managers alongside the government and “you will not need to know somebody to access it”.
The President lauded the Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo Iweala who has so far successfully coordinated three batches of the YouWin programme, stating that from available records the first and second edition of the YouWin created 22,000 jobs.
He spoke further, “Hopefully when the disbursement of the third phase commences and by
the time the fourth phase takes off, we are expecting a minimum of 44,000 jobs created by young Nigerians for young Nigerians”.
In her welcome address, Okonjo-Iweala, said the disbursements for the third phase of the programme will commence shortly as the hitches have been cleared.
YouWin was first launched in 2011, as a scheme designed for entrepreneurs aged between 18 and 45 years.
