The National Association of Nigeria Colleges of Education Students (NANCES) has called on President Bola Ahmed Tinubu and other Nigerians to release more intervention funds, either in the form of loans or grants, to empower Nigerian youths and students who are currently jobless and curb restiveness and dangerous vices aggravated by the economic hardship occasioned by the increase in fuel price and the attendant hike in food items.
A statement by NANCES president Egunjobi Samuel Oluwaseun, made available to journalists yesterday in Abuja, said the 12.5 million students in 219 Colleges of Education all over the federation appreciated the president’s poverty alleviation efforts and want him to continue in that stead.
He said, “Pushing out more intervention funds will build on the foundation already laid by the previous government, administered by NIRSAL Microfinance Bank (NMFB), which created lots of direct and indirect jobs and took lots of people out of poverty.”
The student body lauded Abdullahi Abubakar Kure’s leadership of the NIRSAL Microfinance Bank for a well-done job.
It said NMFB is the only organisation that has distributed intervention funds transparently and with accountability across the six geopolitical Zones.
“People were able to secure loans without requiring insider connections, and the funds had enabled some of the youths to start, expand, and sustain businesses to this day,” he said.
He said such businesses included selling recharge cards on campus, opening barbing salons, and other petty ventures.
“As a result, we earned more money to pay our school fees, offset bills and meet several other financial obligations.
“Although many beneficiaries had hoped the funds would be provided as grants, the bank maintained that they were loans. Nevertheless, these interventions have played a crucial role in stabilising and sustaining small businesses across Nigeria.
“In light of President Bola Ahmed Tinubu’s Renewed Hope Agenda, it would be refreshing for his administration to push out more intervention funds in sectors like small and medium enterprises and agriculture as this will enable the Nigerian youth to have means to a meaningful livelihood,” he added.
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