Can someone help here https://www.nairaland.com/2383906/gtbank-token-request

@op, what is the difference between what you proposed and youwin.

Remember you win got lots of Condemnation from APC. what is the difference. We want a change.

kelvin100:
@ OP, you stole my idea

No sir, I didn't.

greggles:


What size of generator powers a welding machine? There are solar panel and inverter combinations that can handle that, though they might be more expensive and go beyond the funding cap of this programme. Unfortunately, you will agree with me that even the best of programmes cannot cater for all the problems 100%, however, this is a very laudable start that will bring excellent results if all the components are properly implemented

Bro it looks and sounds like SURE-P and YOUWIN! Giving one a 10 million Naira loan to start a business is outrightly going way over board.

I will still hold my ground and say the best way for government to empower Nigerians is to provide stable power supply, thereby empowering small businesses to grow and big business to grow bigger, the bigger the growth the more room for employment.

And also government should make sure that those business that grow exponentially pay good money to their workers, not rip them off like what we see happening today.

kelvin100:
Such program should not be totally interest free!
There should be an interest payment but should be very small like 2% max.

The need for little interest is to transfer the operation to known organisations like banks. This will make it more likely to succeed than allowing government employees to run the program. The 2% interest is for the bank that runs it but the principle is government financed.

Usually there are consultancy fees (percentage of the pricipal amount) paid to implement these which are paid to participating organizations like banks. Do not forget the banks also have much to gain from these as they would be the ones managing these business accounts and providing support just like their regular clients

First, I think we should be clear as to the criteria that qualifies one for the 5k benefit. The NBS recently said about 4.7m Nigerians are unemployed and that is the number that would be used for whatever unemployment benefit disbursement calculation. This amounts to about $1.5bn annually allocated to that. I don't think that is the smartest fiscal policy we can come up with but I think we should operate that till we come up with something better.

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

I Totally disagree with ur opinion....this country is not yet developed to the extent of using Security system.bla bla or BVN to track and know what someone is doing with money...and in the aspect of giving grant to people in order to start business and employ others... how sure are u they will use the money given to them for the purpose of opening business if a Supritendent of Police will refuse using orderly so as to siphon the allowance of an orderly been given to them how sure are u the beneficiaries will employ up to 10/people? let them do whatever they will do.

This policy would be a total waste if implemented.

@OP well said

Ur idea is jus slightly different from the YouWin program initiated by d past administration...Although is a welcome IDEA
.
.
One thing dat bedevil these sort of schemes in naija is lack of accurate data base for tracking or gettin information about her populace.
.
.
No record to dictate a working class Citizen or benefiaciaries of similar programs from d real unemployed youth d scheme is designed for, hence u have a counterproductive scheme.

The money na ur own ? Na from federal pause. Make una allow dem to pay this money na. The country can afford to pay the money.na every time we go dey manage ? Now wen dem don decide to bless pple na him una wan put sand for people garri

joseph1832:
Bro it looks and sounds like SURE-P and YOUWIN! Giving one a 10 million Naira loan to start a business is outrightly going way over board.

I will still hold my ground and say the best way for government to empower Nigerians is to provide stable power supply, thereby empowering small businesses to grow and big business to grow bigger, the bigger the growth the more room for employment.

And also government should make sure that those business that grow exponentially pay good money to their workers, not rip them off like what we see happening today.

I understand and I agree with your long-term solution. But my suggestion is mainly based on government's plan to be paying people N5,000 montly which to me doesn't really make much economic sense as this money goes into the drain just like that.

Also, the business empowerment programmes are policies being used in developed countries to boost job creation, it is also in place in States like Lagos and Anambra already, I am not suggesting a far-fetched objective, some states are already keying into it and its working. Even with electricity generation, some companies will grow but new ones will still be unable to start without funding, people will simply have more electricity to watch TV, business still needs money to startup

Nigeria people, this is an opportunity to enjoy from your inheritance and you are against it, leaving it to the corrupt politicians to eat it a lone.

That money is too small from your government! Americans pays from $1000 depending on ur status and pays $400 to $600 child benefit. Likewise all European countries pays.

But... Money can't be paid without proper biodata
Let's search for more knowledge to tackle this people because the politicians don't which the country well.
Like someone that being contesting for President for good 4 times and got to the post traveling around to get knowledge, what as he being doing for the past years.
May God help us

Where in the world has this system of govt charity worked. Abeg, PMB should channel all that fund into generating power across the counter. Infrastructure inverstment is a force multiplier for the economy and that is what we need at this point not unending wastage. This govt should learn from the mistakes of last govt.Sure-P and the other chariry programs was a waste of public funds. Op raised the issue of having a working database. How close are we to that? This is another subsidy system in the making. It will not work.

Engrpj:

I Totally disagree with ur opinion....this country is not yet developed to the extent of using Security system.bla bla or BVN to track and know what someone is doing with money...and in the aspect of giving grant to people in order to start business and employ others... how sure are u they will use the money given to them for the purpose of opening business if a Supritendent of Police will refuse using orderly so as to siphon the allowance of an orderly been given to them how sure are u the beneficiaries will employ up to 10/people? let them do whatever they will do.

Did you read the last paragraph of my suggestion? I think you should read again, I emboldened that "This money should not be a grant but a non-interest loan", futhermore, security systems in place can track your financial history, they don't need to chase you around, you will definitely come to them, someday you'll need something from a bank, you might commit even a traffic violation etc and that's it, your run ends. Technology is evolving in Nigeria, you will realize this when you get to the police office to get a clearance for something and your thumbprint of BVN or National ID is required..

greggles:


I understand and I agree with your long-term solution. But my suggestion is mainly based on government's plan to be paying people N5,000 montly which to me doesn't really make much economic sense as this money goes into the drain just like that.

Also, the business empowerment programmes are policies being used in developed countries to boost job creation, it is also in place in States like Lagos and Anambra already, I am not suggesting a far-fetched objective, some states are already keying into it and its working. Even with electricity generation, some companies will grow but new ones will still be unable to start without funding, people will simply have more electricity to watch TV, business still needs money to startup

You must agree with me that Nigeria is now a money centred society where he who has money, is king of the ring!.

I will still tell you that any man who truly wants money will go ahead and get it either the easy way or the hard way. So I really don't think the way the country is now will actually make people sit at home and watch TV.

Kindly give me an inkling to such business empowerment program, the one that you said Lagos and Anambra are keying into.

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

Not bad, in fact I like this.

Look mr advicers hold ur peace nd allow d great change dat wnts to take place in nigeria ,didn't u hear dat more dan dis had bin takin place in oder of our nebouring countries ?all dis while dt our greedy politician are looting our money ,why dnt dy come out wit dis ur idea,pls my able president go on wit ur plan we ar behind u.

oaslink:
Nigeria people, this is an opportunity to enjoy from your inheritance and you are against it, leaving it to the corrupt politicians to eat it a lone.

That money is too small from your government! Americans pays from $1000 depending on ur status and pays $400 to $600 child benefit. Likewise all European countries pays.

But... Money can't be paid without proper biodata
Let's search for more knowledge to tackle this people because the politicians don't which the country well.
Like someone that being contesting for President for good 4 times and got to the post traveling around to get knowledge, what as he being doing for the past years.
May God help us

America is a thriving economy that is free of corruption at least to an extent. Have you seen their GDP in double digit trillions of dolllars. Only bouyant economies are able to sustain handout programs for its citizens. Can you say we are bouyant with all the salary backlog.

This is a project set up just to settle some contractors or GF just like Osun school feeding arrangement.

Was someone thinking this to be true? This is one of the unrealizable campaign promises used to garner votes from gurible electorates. Time to prepare for a soft landing, and I thing that Op is an agent of the government, preparing a soft landing off the promise for the government. My take

Obiagelli:

Not bad, in fact I like this.

Thanks!

DaGC:
Good opinion.

Truth be told, I really didn't know what they were thinking when they made that promise. So, people will just stay at home and receive N5000 monthly, even without working. That's rewarding laziness with wage.

To many Nigerians expect so much from their government, even when they don't pay tax.

So many of the so called 'poorest Nigerians' actually expect government to come and feed them. And you will be surprised at how many of these 'poorest Nigerians' have multiple wives and kids.

d same way govt is paying millitant wages without meaningful job, d billions d govt always dash d millitant is enof to put smiles on d faces of millions of good pple of nigeria,instead of given it out to few bad pple in d creek. May God help us,in jesus name.AMEN.

persius555:
Where in the world has this system of govt charity worked. Abeg, PMB should channel all that fund into generating power across the counter. Infrastructure inverstment is a force multiplier for the economy and that is what we need at this point not unending wastage. This govt should learn from the mistakes of last govt.Sure-P and the other chariry programs was a waste of public funds. Op raised the issue of having a working database. How close are we to that? This is another subsidy system in the making. It will not work.

By charity, you mean dashing people money? Completely outside the scope of this suggestion. This project is a loan scheme for serious entrepreneurs, there is no part of any developed society where people find it so difficult to access loans and credit from government to startup businesses, its mostly in Nigeria that I see people thinking that even with steady electricity, people won't need loans to startup business, very wrong in my opinion

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

BUT It is obtainable everywhere ... uk do that... my take is that.. the program can be sef sustaining .. i expect the federal government to ensure that the money for this would be realized back when the unemployed graduate later get job. i.e workers will remit some money into fg act.like a tax. infact it can be from every labour in nigeria- tax should be set aside to take care of this

ziky2010:
The Op is right.But the major issue is dat our dear president must fulfil his campaign promise.Though I am not suffering but I am expecting 5,000 monthly from the Government

pple like u,are d problem of nigeria, so greedy and corrupt, i am always paranoid seeing greedy pple around me and i wound have like to give someone like u, a very dirty hot slap, but i woundn't do that, because 'jesus loves you'

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

since buhari is yet to release his ministerial list. i hereby nominate you as a SPECIAL ADVISER on UNEMPLOYMENT affairs.
I trust you would deliver on set targets.

nice one op

Its a nice approach but the government should rather invest that money and rather give it to people that really need it like old peoples that can't work.

maestroz:


since buhari is yet to release his ministerial list. i hereby nominate you as a SPECIAL ADVISER on UNEMPLOYMENT affairs.
I trust you would deliver on set targets.

I appreciate sir!

maestroz:


since buhari is yet to release his ministerial list. i hereby nominate you as a SPECIAL ADVISER on UNEMPLOYMENT affairs.
I trust you would deliver on set targets.

Thank You sir!

chimaria:
nice one op

Thanks!