Federal Government Reveals Plan to Restructure YouWiN Programme

The Ministry of Finance has disclosed the intention of the Federal Government of Nigeria to restructure the Youth Entreprise With Innovation in Nigeria (YouWiN) programme. The planned adjustment was alluded to in a statement by a director in the Ministry of Finance, Salisu Dambatta.

Possible changes to the programme’s structure are expected to be made after ongoing consultations with stakeholders and beneficiaries have been completed. Efforts in this regard are to culminate with a meeting of concerned parties which will hold in Abuja on July 22. Participants from all six geo-political zones are to confer and discuss ways by which the YouWin programme can be improved upon.

The administration of former president Goodluck Jonathan had begun the programme in 2011; since then, about 18,000 people have learnt business skills considered relevant to small and medium scale enterprises. According to the statement from the Ministry of Finance, the programme, which is in its third edition, has received ₦11.2 billion and has given grants worth a total of ₦7.4 billion to awardees.

The Minister of Finance, Kemi Adeosun, says that the need for transparency and efficiency informed the government’s decision to reform the programme. She also assured Nigerians that the current administration was committed to empowering entrepreneurs by encouraging innovative business ideas via platforms such as YouWin. Mrs Adeosun, however, emphasised that beneficiaries will be verified through checks on their Bank Verification Numbers (BVN) and other important details before they are given grants.

In May, it was reported that the Federal Government had begun an audit of the programme. There were claims that the Buhari led administration planned to scrap the YouWin program, but recent statements made by representatives of the Ministry of Finance do not indicate that this will happen.

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ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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