Skip to main content

31% YOUTHS LACK ACCESS TO BANK LOANS

31.7% youths lack access to bank loans for business -NBS

Nigerian youths

File copy: Nigerian youths


The National Bureau of Statistics says that 31.7 percent of youths in Nigeria lack access to bank loans to finance their businesses due to high interest rates.

The bureau said this in its National Youth Survey for 2020, obtained from its website in Abuja on Monday.

Similar posts:

 https://www.edoborsblog.com/2021/09/youths-burn-works-commissioners-home.html

https://www.edoborsblog.com/2021/06/some-of-incubatees-fgnnddcifadlife-nd.html

https://www.edoborsblog.com/2021/09/angry-youths-kill-man-for-off-farmers.html


According to it, the report is a collaborative effort between the Federal Ministry of Youth and Sports Development and the NBS.

It also said that stringent bank policies, government policies and other measures adopted by banking institutions make it difficult for youths to finance their businesses through bank loans.

Giving a breakdown of the result from the survey, the NBS said that stringent bank policies accounted for 24.8 per cent youths not having access to bank loans, 7.3 per cent attributed their challenges to government policies while 13.2 per cent of the youths gave other reasons.

At zonal level, youths from South-South 45.7 percent and South West 35.5 percent could not access bank loan due to high rate of interest rate; while youths from North-West 54.5 percent and North-Central 33.8 percent could not access bank loans due to stringent policies.

“Youths from South-South 15.7 per cent and North-East 13.3 per cent could not access bank loans due to government policies.”

Comments

Post a Comment

Popular posts from this blog

Countries Accepting Nigerians Seeking Second Citizenship

  Countries Accepting Nigerians Seeking Second Citizenship Nigerians are able to access the following citizenship and immigration programs: The Caribbean Second Citizenship Programs, Caribbean nations like St. Kitts & Nevis, St. Lucia and Grenada offer second citizenship through their respective Citizenship-by-Investment programs. A holder of one of these passports may travel visa free to about 135 countries, including all European Union countries, the UK, Russia, Turkey, Singapore and Hong Kong. Holding a citizenship from one of these respected countries may also make it easier to obtain residency status or study in other countries, and allows political security and makes it easier to open bank accounts in foreign jurisdictions. To qualify, an applicant needs to be of good reputation and make a government donation of at least $100,000 USD after approval of their citizenship application.  Approval of a Citizenship-by-Investment application normally takes about 3 months, and all de
3 comments
Read more

$100 MILLION STOLEN BY HACKERS IN CRYPTO HEIST

  Hackers steal nearly $100m in Japan crypto heist IMAGE SOURCE, Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen. Leading Japanese cryptocurrency exchange Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen.  The company announced that some of its digital currency wallets have been "compromised." It is the second major theft of cryptocurrencies to take place in recent days.                 Last week, digital token platform Poly Network was at the centre of a $600m heist. "WE ARE SORRY TO ANNOUNCE THAT #LIQUIDGLOBAL WARM WALLETS WERE COMPROMISED, WE ARE MOVING ASSETS INTO THE COLD WALLET," THE COMPANY SAID ON TWITTER. So-called 'warm' or 'hot' digital wallets are usually based online and designed to allow users to access their cryptocurrencies more easily, while 'cold' wallets are offline and harder to access and therefore usually more secure.                            
Post a Comment
Read more

AKURE OBASHIP: OBA AGUNSOYEBIOYINBO ADEMUAGUN ADESIDA 11 BROUGHT CLASS AND DIGNITY TO THE THRONE

      AKURE OBASHIP: OBA AGUNSOYEBIOYINBO ADEMUAGUN ADESIDA 11 BROUGHT CLASS AND DIGNITY TO THE THRONE                 By Sunday Ajibola There are men and there are men. Man gets to positions of power and authority and bring to bear their inner qualities. Position, as we have it here, is used to do all sorts of things; good and bad. But mostly and vexatiously, position blinds us as we use it to cheat and deny others their rights. Certain men understand that position is an opportunity to etch their names in gold and put such in the same of time.   It is exactly fifty years today that the 42nd Deji of Akure, late Oba Agunsoyebioyinbo Ademuagun Adesida 11 joined his ancestors. That fateful day was Sunday and in the evening; darkness was just enveloping the city. It was the strange shouts of "opo ye o, opo ye o, opo ye o", that prompted me to rush out of our house at Oke aro. I saw people running helter, skelter. I did not bother about them. I was looking for the "electric
Post a Comment
Read more