253 corps members receive N426m BOI loans – Minister

The federal government has revealed that the Bank of Industry has disbursed about N426 million to 253 corps members through its Graduate Entrepreneurship Fund (GEF).

The minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, announced this in Abuja at an international conference on entrepreneurship organised by Beta Sigma Fraternity.

Enelamah said the funds disbursed to the corps members would encourage industrialisation and entrepreneurship among young people.

The minister revealed that President Muhammadu Buhari planned to institute a Presidential Enabling Business Environment Council to be chaired by Vice President Yemi Osinbajo to help entrepreneurs and investors with an enabling business climate.

“According to the 2013 National Micro, Small and Medium Enterprises Survey, 98% of the 37 million MSMEs in Nigeria are actually micro enterprises, employing fewer than 10 people.

“With this in mind, we are launching what we believe to be the most ambitious social investment programme in the history of Nigeria,” he said.

Former governor of Enugu State, who is also the president of Beta Sigma Fraternity, Dr. Okwesilieze Nwodo, said if the youth in Nigeria were given a good grounding in entrepreneurship, they would excel and be self-employed.