CACOVID Earmarks ₦150bn For Youth Empowerment Programme

A private sector led coalition against COVID-19 (CACOVID) says it has earmarked ₦150 billion for social intervention and various empowerment programme in the country.

The coalition made this known in a statement on Thursday.

It said the ₦150 billion fund will be channelled into technical and vocational education development program to empower 4 million youth, which would run for 5 years.

“Selected students on conclusion of the program will be certified by the appropriate standards board and will be eligible to receive loans to support their entrepreneurial pursuits,” CACOVID said.

“So far, over N25 billion will be domiciled in a fund to support these entrepreneurial pursuits, which would also include acquisition of related equipment to conduct business activities.”

The coalition added that graduates with entrepreneurial skills will benefit from its joint venture with Bankers Committee to complete the creative center at National Arts Theater, Lagos.

Also Read: #EndSARS: CACOVID To Donate ₦100bn For Police Equipment, Station Rebuilding

CACOVID said it received a total of N39.64 billion as donation from members of the private sector and spent N43.272 billion on various interventions.

It said N13.2 billion was spent on medical facilities and equipment, N28.7 billion on food supplies as palliatives to 1.7 million households which translates to 8 million Nigerians and the rest went towards creating awareness about the coronavirus.