The proposed costs, Youth Entrepreneurship Development Trust Fund, on Thursday, at a public hearing, got assistance from stakeholders for the 5 percent of annual capital quotes to be added to

the trust fund. The expense was sponsored by Hon. Farah Dagogo, representing Degema/Bonny Federal Constituency of Rivers State

. The costs went through a public hearing in accordance with legal treatment after it passed second reading in your house of Representatives.

In his opening address, Sponsor of the expense, said the Youth Entrepreneurship Development Trust Fund Bill, if passed into law would straight fund youth business and will likewise assist the Nigerian youths to establish their own companies instead of looking for clerical tasks.

According to him, youths are an emergency in Nigeria with 55% of the entire population, while “they are highly endowed to the level that they might contribute to national advancement, if chance was created for them.

The lawmaker said: “This expense was developed in recognition of the massive capacities of the brimming Nigerian Youths, which make up over 55 per cent of the country’s population and a number of whose budding skills have not been successfully utilized for the socio-economic development and advancement of the country.

Hon. Dagogo pointed out that economic restraints were aspects working against the youths in bringing out their best in regards to entrepreneurs, noting that the fund would manage them the opportunity to develop their businesses and handle them.

Stressing the significance of the costs, he said, as soon as their minds are redirected to establishing organizations on their own with money in type of loan or grant easily made available, a number of them would no longer make themselves available for vices.

“What failed with Nigerian youths, and how can we reverse the trend to galvanize them to become more practical and critical to entrepreneurial change?

“Here lies the essence of this Bill. This Bill is significant, colossal, titanic and a roadmap for protecting the future of Nigerian youths. When passed, it would offer the needed panacea on how to re-invent the economy and jettison hardship with youths taking the lead as tigers of transformation,” he said.

Speaker of the House, represented by the Majority Leader, Hon. Alhassan Ado Doguwa, said the 9th House of Representatives are desirous of providing legislations that would have long lasting favorable effects on the well being of the youths.

Chairman of the Committee, Hon. Yemi Adaramodu admired the sponsor of the expense. He dismissed claims that the youths have actually been catered for in numerous youth program, pointing out that ‘the so called intervention programme’ were not backed by law and as such challenging to monitor.

A Professor in the Department of History and International Studies, Kogi State University, Prof Patrick Ukase, revealed happiness’ that there is a consensus on youth joblessness’ and an urgent requirement to apprehend the scenario with the concept surrounding the costs.

Similarly, Prof Sam Otamiri of the Ignatius Ajuru University, Rivers State explained the costs as an idea that need to be motivated. He stated the bill is a clear service to the issues of youth unemployment.