Leading political economist and development expert, Prof Pat Utomi has said his non-profit organization, the Centre for Values in Leadership (CVL), is set to begin the second edition of empowerment programme to train and empower about 400 unemployed youths in Delta State.
Disclosing this during a press conference in Lagos, prof Utomi said “Whereas the first edition empowered about 100 youths, the second batch will train 400 Nigerians in entrepreneurial and micro- enterprises.
According to the Chief Operating Officer of CVL, Mr. Uchenna Achunine, “apart from the difference in number, the budget for the second edition stands at N480 million as against the first which was N30 million because starter packs and start grants have been increased”.
Utomi revealed that the key challenge of startups in Nigeria remained lack of right ideas and not capital as thought by many people.
He disclosed that because the empowerment scheme will be in tune with terms and conditions of the Central Bank of Nigeria (CBN) and Bank of Industry (BoI) who are partners, trainees will be able to develop bankable business plans to access single-digit interest rates on loans on completion of training.
