DANGOTE FOUNDATION/BOI N5B MATCHING FUND TO IMPACT 250,000 MICRO-ENTREPRENEURS

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[Dangote Foundation]–The president of Dangote Group, Aliko Dangote, has revealed that the Dangote foundation/BOI matching fund, which could be accessed by Enterprises and Limited Liability Companies engaged in the Manufacturing, Agro-Processing and Merchandising sectors for made in Nigeria goods, will impact on 250,000 micro-entrepreneurs.

He explained that the fund will directly benefit 13, 000 registered groups with the average of 20 entrepreneurs in a group, which leave up to the impact on 250,000 micro-entrepreneurs.

Dangote, in a recent chat with news men,  said that the best way to tackle unemployment and improve standard of living in Nigeria, is that the Central Bank should effectively  fund the Small and Medium Enterprises (SMEs) sector, which is the of a nation’s growth

While speaking on the level of unemployment in the country, the chairman said that United Nations (UN) report revealed that youth unemployment rose to 42 percent in 2016 with many graduates combing the streets in major cities such as Lagos, Kano, Abuja and Port Harcourt in search of often-elusive white-collar jobs. He attributed this to one of the effects of many years of de-industrialization in the country and increase in retrenchment level in the public service and the private sector.

Speaking further, he said that the ripple effect of this is the endemic poverty in country, which is the cause of “the spate of kidnappings, intermittent vandalism of petroleum pipelines in the Niger Delta, and the protracted insurgency in the North East.




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