Youth Entrepreneurship Strategy to Attract CBN’s MSMES Fund

Mr. Nicholas Okoye

By Ndubuisi Francis in Abuja

The Central Bank of Nigeria (CBN) is to extend its N220 billion Micro, Small and Medium Scale Enterprises (MSMEs) fund to the Youth Entrepreneurship Strategy for the Oil and Gas Industry, an entrepreneurship initiative designed to enable NIgerian youths become active players in the nation’s oil and gas sector.

Initiator of the Youth Entrepreneurship Strategy of Nigeria (#YESNIGERIA) and Chief Executive Officer of Anabel Group, Mr. Nicholas Okoye made the disclosure in Abuja yesterday at the unveiling of the Triple ‘E’ Initiative (Entrepreneurship, Empowerment and Employment), an entrepreneurship package in the oil and gas industry for youths, women and SMEs.

Okoye noted that YESNIGERIA is a timely idea as nations, including Nigeria are battling with the problem of unemployment.

According to him, solving the unemployment problem required the promotion of entrepreneurship, which is the fulcrum for job creation.

Okoye stated that the Ministry of Industry, Trade and Investment had continued to make giant strides in promoting entrepreneurship in the country via small, medium enterprises initiatives.

Okoye, who is also the founder of Empower Nigeria stated that his group was simply complementing the federal government’s efforts, noting that there was the need to create a pool of young Nigerian players in the oil and gas sector as the Nigerian Content continues to redefine activities in the sector.

He expressed delight that flowing from his discussions with the CBN, the apex bank was disposed to extending the N220 billion MSMEs funds to promote the Youth Entrepreneurship Strategy for the Oil and Gas Industry.

Giving an insight into how youths can cue into the Youth Entrepreneurship Strategy for the oil and gas sector #YESNIGERIA, Okoye said stage one involved registration on the web portal www.nyenet.com<http://www.nyenet.com/>.

The next stages, he pointed out, are certification, funding, sustainability, and expansion, assuring that opportunities in the oil and gas sector would be identified and availed to the youths.

In his comments, Minister of Industry, Trade and Investment, Dr. Olusegun Aganga commended the Nigeria Content Development and Monitoring Board for widening the horizon for local players in the oil and gas sector.

Aganga stated that the President Goodluck Jonathan administration had done more than any other Nigerian administration in creating  job opportunities and entrepreneurship development in all sectors of the economy.

He stated that prior to the establishment of the Nigeria Content Development and Monitoring Board, local participation I the oil and gas sector was a paltry 5 per cent, which has taken a quantum leap sine the administration came on board.

The minster commended the YES initiative, noting that it helps the youths to navigate through the oil and gas sector and become strategic players in no distant time.

Culled from: http://www.thisdaylive.com