Kwara State government has supported businesses owned by 100 young people in the state with N1million grant per beneficiary.
Speaking at the occasion, Kwara Governor Abdulrahman Abdulrazaq saw the grants as keys to sustainable future to youth inclusion and productive engagement.
The N1million grant is funded through Kwapreneur 2.0, a programme specifically designed to support businesses owned by young people and funded through the Kwara State Social Investment Programme (KWASSIP).
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At an event commemorating International Youths Day in Ilorin, Governor Abdulrazaq said that nowhere in the world is the conversation around the future of young people more important and urgent than in sub-Saharan Africa where up to 70 per cent of the population are below 30.
“This is an opportunity for growth and prosperity. But it could also be a threat to stability, peace, and security on the continent if not managed. This is why we must not lose the conversation around inclusion, growth, quality engagement and empowerment of young people. For this reason, I align myself with the theme of this gathering, which is Intergenerational Solidarity: Creating A World for All Ages,” he said.
“Our administration has a reputation for listening to, engaging and empowering young people in very practical terms. Many of our projects, programmes and policy direction have been conceived to benefit especially young people.
”The innovation hub, visual arts centre, film factory, garment factory, the huge investments in tech-driven basic education, and road projects linking farmlands to city centres are good examples of this.
“Today’s launch of Kwapreneur 2.0 is another example. No fewer than 100 young people will get a grant of One Million Naira each to support their businesses.
”Not only will this keep them away from violent crimes and protect them from predatory politics; it is another way of strengthening small and medium-scale businesses with multiplying effects on the local economy and living standards of the people.
“Kwapreneur 1.0 has been a huge success, with at least 75% of recipient businesses thriving and expanding. The repayment rate of roughly 50% is also encouraging and can be better. I urge all the beneficiaries of Kwapreneur 2.0 to make judicious use of it.”
KWASSIP’sCchief AbdulQuawiy Olododo said beneficiaries were drawn from a pool of those who had applied for Kwapreneur 1.0 and nominations from artisan groups, community organisations, and youth groups, among others.
Debating the theme of the event, panelists commended the government for supporting businesses owned by young people, urging the beneficiaries to make good use of the funds and to remain committed to their dreams.
Recall that the scheme gave at least 170 young people an interest-free loan ranging from N250,000 to N3 million last year. The Friday programme featured a video testimonial of successful beneficiaries of the loan.
