What The Acting President Must Know About The BOI-YESP Scheme

It has become necessary to cry to His Excellency, Prof. Yemi Osinbajo concerning the lingering deceit of the Bank of Industry against the enterprising youths of our great country. Even the blind can see the passion with which His Excellency is trying to steer the Nigerian economy from a monolithic, import-dependent, unemployment-drowned economy to a diversified, export-driven and creatively-productive one. The strides he has taken to launch different intervention and social support programs to encourage entrepreneurship, harness the youths potentials and grow the SME segment of the economy is plausible. However, it is sad that the Bank of Industry (BOI) is stopping at nothing to bring his lofty vision to naught.

Recall that in March 2016, the Bank of Industry launched a program to support and empower annually, at least 5,000 young entrepreneurs with soft loans, through a program tagged Youth Entrepreneurship Support Programme (YES-P). The idea seemed noble since it has been identified in several studies that lack of funding constitutes over 80% of problems faced by young entrepreneurs in Nigeria. Well, it may interest His Excellency to know that the BOI program was all deceit, decoy and a stunt to garner cheap publicity through the media. We have seen on various media, the management of BOI claiming that the YES-P program has been a complete success, while in reality, only a minute subset of the total final applicationhas been attended …… read more http://smedigest.com.ng/acting-president-must-know-boi-yesp-scheme.html

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