illuminaty:
....boss,it mite nt go a long way but it will surely help in 1 way or d other.think of it,those frying akara can save up 2 buy cooking gas for their bizness,with the epileptic power in this country,5k can go a long way in buying fuel 2 run your bizness....omo menh,5k can come in handy for some people....just go out n sample the opinion of people

calebo101:
What's the difference between what the OP suggested and YOU WIN?

greggles:


Its not as straightforward as I said it, there are procedures, these business plans are submitted digitally to consultants from participating organizations like banks in Nigeria. Furthermore, the system is designed to remove every private credential of the applicant before it reaches the consultant for review, so the person reviewing it doesn't know who you are or where you come from, its even scrambled among the reviewers who do not know one another so they can't even control which one comes to them, plus other security measures. Its a standard procedure that works

greggles:


I fully understand, but rather than dash them N5,000 give them up to 100k or thereabout to establish their businesses proper. Do you know that if you're giving 5k monthly, you'll easily spend it but if you're giving a bulk money of 60k, you can start something with it?

calebo101:
What's the difference between what the OP suggested and YOU WIN?

greggles:


Youwin is a grant, which encourages waste, someome who wants to even start a barbing salon would be asking for 10 million and when he gets it, he'll go buy a porsche car and waste money, would he do that if it were a loan? This is a loan that must be paid back. This project also implements security standards used in developed countries, furthermore, it involves pre-qualification processes, like examination or interview, Youwin can be written by anyone for anyone who doesn't know Jack about business, lots of differences

uchenageme:
I don't understand the difference between this and the Youwin program of the past administration. The op is obviously not aware of this.

uchenageme:
I don't understand the difference between this and the Youwin program of the past administration. The op is obviously not aware of this.

greggles:


Youwin is a grant, which encourages waste, someome who wants to even start a barbing salon would be asking for 10 million and when he gets it, he'll go buy a porsche car and waste money, would he do that if it were a loan? This is a loan that must be paid back. This project also implements security standards used in developed countries, furthermore, it involves pre-qualification processes, like examination or interview, Youwin can be written by anyone for anyone who doesn't know Jack about business, lots of differences

greggles:


Government would need to establish qualifications to benefit from this project, example submitting a business plan for review and approval by the government, this business plan will include a plan to employ at least 8 to 10 people within 6 months of startup. The programme would also include a mandatory training at a participating organization, example SMEDAN, after you are shortlisted to benefit from this programme. There would be other standards too.

Another option would be writing a qualification exam that tests some of your personal and cognitive abilities to select the best among many, then undergoing business training by selected beneficiaries.

joseph1832:
Yes its true, you made a good point here bro. Just like SURE-P.

joseph1832:
What good will it do for the unemployed youth if at the end of the day he use more than half of his profit to buy fuel in other to run his business?.

My take on this issue is simple, "give the Nigerian youth uninterrupted power supply and watch him make money".

Without steady power supply, the Nigerian youth can never be free.

barcanista:
Sure-P is rubbish!

greggles:
If the Federal Government intends paying the poorest unemployed Nigerians N5,000 monthly, my personal estimate is that it will be budgetting for about 20 million Nigerians, amounting to about N100 billion naira monthly.

I completely disagree with this policy. It is my belief that paying N5,000 monthly to millions of unemployed persons would amount to a waste of government resources in the short and long term.

N5,000 monthly makes absolutely no sense to our economy of today. It cannot even sustain a Nigerian youth who is even under the roof of someone else, for a month based on today's cost of living.

My Suggestion:

Government should rather invest this money into the economy in a way that will create a job for a youth and pay him up to 30,000 to N50,000 monthly. How?

Let's do some analysis here:

N100 billion naira can fund up to 10,000 businesses monthly with about N10 million naira each, who will employ about 10 people each, thereby creating up to 100,000 or 150,000 jobs monthly. This makes it possible for most Nigerian graduates to focus on starting their personal businesses and creating Full Time and Part Time jobs, instead of endlessly looking for jobs themselves. This also ensures that beneficiaries of this project get to pay tax to government, thereby increasing government's internally generated revenue. How much would you tax someone who earns N5,000 monthly when you can invest in a business that pays that person up to N50,000 monthly and then tax them?

Security For The money

In order for graduates to benefit from the business empowerment project, government needs some form of security, and they already have it, Yes, the Bank Verification Number (BVN). This ensures that your identity is known and you don't run to another bank and deposit the money to enjoy a personal life rather than use it for what it was meant for.

Just like the Social Security Number is used to track everything you do in the US, our Government, with time and policy implemenation, would be able to use our National Identity Number to quickly create a central identification system where your identity is tied to your Bank accounts and everything you do including renting a house, getting a job, doing business, contesting public office, obtaining an international passport, enrolling in college etc. Usually when you want to do any of the above mentioned, a background check is conducted with your ID Number to check your financial history as well as any violation or criminal history because all these records are usually domiciled with security agencies.

What Are The Benefits of This Project?

1. With this business empowerment programme, government will be able to stimulate and grow the economy through the private sector, this means, more employment generation through private sector businesses than directly by government

2. Government will be able to fulfill its promise to Nigerians to create millions of jobs annually

3. Government would be able to greatly boost its internally Generated Revenue through taxes both from businesses and employed persons

4. More businesses in Nigeria will survive because when more people have purchasing power, businesses can thrive and more will spring up

5. Boost Technology and Agriculture. When more businesses in Agric and Technology are empowered, then other sectors in Nigeria will grow because e-commerce will become a vital part of our development while agriculture will feed the nation and encourage export

6. Resourceful Education. When this policy is started, our Higher Institutions would be able to adjust their curricula to include practical ways of turning your course into a resourceful business venture, including how to develop a good business plan for your intending business
Organizations like SMEDAN who offer entrepreneurship courses will also follow suite and might offer certification courses which may be used as a requirement for benefitting from this project.

This Money Should Not Be A Grant

Yes, The money should be a Repayable Non-Interest Ioan. Only serious people who believe they can succeed should be given this money. We have people who are born entrepreneurs, they are not suited for the 9 to 5pm schedules, all they need is education and application of business principles to succeed and create employment for others. We also have confident entrepreneurs who believe they will succeed even with an interest loan from a bank, but unfortunately they do not have collateral, they are the very ones at the top list of who deserve this funding.

This to me would discourage emphasis on Higher Education Certificate for job hunting, and encourage Resourceful Education which is good for our economic development

God Bless us all.

#TeamGreggles, Say Yeah!

Share Your Opinion. Thanks

robosky02:


this one sure pass SURE-P ?

greggles:


You know this is more like a summary. In the real business plan, you have to include a section for self- power generation using solar panels and inverters and deep cycle batteries, you cannot be running generators for a startup business like this to be sustainable, that's why up to N10 million is made available so you can generate your own sustainable electricity. This is even more business for renewable energy suppliers to grow their businesses too and even encourage local renewal energy manufacturers

barcanista:
This one is dead on arrival!

barcanista:
Sure-P is rubbish!

greggles:


You know this is more like a summary. In the real business plan, you have to include a section for self- power generation using solar panels and inverters and deep cycle batteries, you cannot be running generators for a startup business like this to be sustainable, that's why up to N10 million is made available so you can generate your own sustainable electricity. This is even more business for renewable energy suppliers to grow their businesses too and even encourage local renewal energy manufacturers

joseph1832:
At the embolden, I really don't know which type of deep set battery can power a welding machine for 12 hours straight using solar power. Such machines are even power by diesel generators not even petrol generators.

I honestly don't feel solar power can provide readily unlimited power supply to power a good business, especially when that business run on heavy machinery!.

This is just my opinion.

barcanista:
And with all these running cost coupled with harsh economic environment you expect him to make progress? One of our problems in this country is that we don't wholistically look at plans before taking position.