The Federal Executive Council Wednesday in Abuja approved N5.5 billion for the training and provision of work tools for 12,000 young Nigerians under the N-Power scheme of the federal government’s Social Investment Programme .
Udoma, who said the selection criteria would be the same procedure adopted for the hitherto beneficiaries of N-power programme which he said was available online, adding that N259,000 will be spent for the training of each beneficiary and another N207,000 for the provision of work tools for each of them.
“The trainings intend to transform the 12,000 beneficiaries from unemployed, under-employed trainees to employed citizens and entrepreneurs.
“The idea is to ensure that our youths are trained and capable of handling all these electronic equipment.” According to her, the loan has one per cent interest rate payable under a period of 30 years with five years moratorium. “But there is a federal science and technology college in Lassa, Borno State that was one of the beneficiaries. But because of insurgency, it suffered severely. It could not be carried out because of the activities of insurgents.