Experts have declared that the Federal Government’s plan to establish a youth bank to offer loans and grants to support young entrepreneurs to foster innovation and job creation is a good idea only if there is political will to implement the policy.
They were reacting to the proposal by the Ministry of Youth Development on efforts to address the country’s unemployment problem, through establishing a youth bank intended to support youth-led businesses.
Those who spoke with our correspondent, however expressed reservation over how such previous attempts were scuttled for lack of transparency and accountability, blaming policy makers for not having the political will to execute such good plans for the growth of young people.
A Lecturer in the Department of Agriculture and Biosystems Engineering at the Joseph Sarwuan Tarkaa University, Makurdi, Professor Simon Irtwange stated that there were such interventions in the past that failed, wondering what was going to be new if such an institution is established.
Professor Irtwange asserted that instead of establishing institution for the purpose of grant, it was more ideal to work on finding solutions to strengthen such existing schemes.
On his, an Agricultural Economist, Doctor Peter Tsue acknowledged that serious leaders invest in the youth for a better future, stressing that if the government is sincere with the policy to establish a youth bank, such could be a platform for youth to access resources for farming and other businesses
On his part, an entrepreneur, John Ajikwa said it would be a timely decision if the government was considering creating a platform to assist and encourage young people to develop their businesses, questioning the terms and conditions for such establishment set to lend funds to the young entrepreneurs.
He urged the government to consider taking measures that will be beneficial to the youths to easily access such loans and grants for businesses, adding that supporting youths to succeed in businesses would significantly contribute to employment generation and economic growth.
