The Federal Government has said it has commenced the training of 5,365 youth entrepreneurs across the country.
In addition to that, the federal government has said it paid 25,000 entrepreneurs N50,000 grants each as part of its conditional cash transfer program for micro-enterprises.
Dikko Radda, the Director-General of Small- and Medium-Scale Enterprises (SMEDAN), said Monday at the inauguration of the National Business Skills Development Initiative in Sokoto.
He said the federal government had commenced the training of 5,365 youth entrepreneurs across the country.
He said 145 entrepreneurs were selected in each of the 36 states and FCT for the programme which is focused on harnessing Micro, Small, and Medium Enterprises (MSMEs) towards an entrepreneurial revolution in the industry, agriculture, and commerce.
He said the programme was designed as a practical way to support MSMEs with entrepreneurial and vocational skills.
”The programme was designed to ensure that more professional services will be provided by local and well-trained young artisans, leading to a reduction in job losses and immigrants from neighboring countries.
”It seeks to drastically pursue reductions in independence and poverty, as most of our youth still rely on stipends from parents,” Mr. Radda said.
According to him, SMEDAN is determined to address the challenges confronting MSMEs in a holistic manner.
“This is why the agency implemented the ”One Local Government One Product (OLOP) in 109 senatorial districts across the nation.
”This is based on successful implementation of OLOP program in Katsina, Kaduna, FCT, Osun, and Anambra state, with the right intervention on the workshop, equipment support, access to working capital, and capacity building.
”The Agency also implemented the Conditional Cash Transfer for micro-enterprises which are assisted to register with relevant authorities, and opened bank accounts where at present, 25,000 entrepreneurs obtained N50,000 grants each,” he added.
He said the federal government facilitated the establishment of Business Development Service Providers (BDSPs) that provide standard services to MSMEs, noting that about 150 prospective BSDPs are awaiting practice licenses.
Mr. Radda said MSMEs Digital Academy, along with many other initiatives, was provided by the present administration to enhance peoples’ productive livings.
”Most recent national MSMEs survey of 2007 indicated that there are about 41.6 million MSMEs, employing 59.6 million labor force, contributing to 49.78 percent and 7.64 percent to nominal Gross Domestic Products (GDP) and exports respectively,” he said.