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CITAD urge FG to soften process of accessing loan facilities to Young entrepreneurs

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CITAD urge FG to soften process of accessing loan facilities to Young entrepreneurs

By Ahmed Ahmed

An NGO Centre for Information Technology and Development (CITAD) has call on Federal Government to soften the process of accessing loan facilities by young enterprenures in the country.

Mallam Sagir Ado , job placement coordinator of CITAD made the call during the entrepreneurship career talk with students of Aliyu Mai Sango Junior Upper Basic Secondary School Jama’are on Wednesday in Bauchi State.

He stressed the need for Federal Government to simplify requirement for accessing loan from lending financial institutions to the young enterprenures.

Abubakar lamented that entrepreneurship is facing many challenges for the young entrepreneurs to strive for.

“There are problems of sources of capital, and even the lending institutions we have make requirements that are difficult for a common entrepreneur.

“High cost of doing business in Nigeria, entrepreneurs are in business take risk because they want to make profit.

“Where the expected returns from a venture is lower than the opportunity costs, it will act as a disincentive for the entrepreneur,” he said

Abubakar added that Lack of strong patent Law is a serious challenge for young entrepreneurs, saying that the local entrepreneurs are not well protected by the Nigerian law.

According to him, another challenge was lack of knowledge in the basic sciences and echnology.

He emphasize the need to encourage entrepreneurs to apply science and technology in their entrepreneurial activities.

“Government should make provision of laws that will protect our local entrepreneurs and also give them the necessary supports.

“Government should also put measures that can help to reduce the cost doing business by ensuring steady supply of electricity, providing infrastructures such as roads, water etc.,” He said.

Abubakar however urged the students to embrace entrepreneurship to become employers of labour not job seekers.

Our correspondent report that enterprenureship career talk was organized by CITAD to mark this year’s global enterprenureship week with the themed ‘Open young Students’ Eyes to the Opportunities Offered by the Entrepreneurial Path’

Responding on behalf of the students, Mr Imran Salihu and Miss Abdullahi said the training session would equip the students with the skills and knowledge to be self-employed.

They said it would provide skills for starting and managing their own businesses as well as employers of labour.

They also noted that the initiative would help in assailing the rising unemployment concerns among youths.

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