Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
it has gone pass the point of no return and the day the international community decide to dump the<br />
dollar and make the Chinese Yuan the currency of international trade will be the day that the reality<br />
of America’s economic woes will become plain for all to see.<br />
Micro-businesses are the drivers of China’s economic renaissance and can equally be the same for<br />
Nigeria’s youth. The economic potential of the micro-business model is endless, and with start up<br />
capital for many of these ventures as low as N50,000 ($350 dollars) in many rural communities, it<br />
is an initiative that the Federal and State governments can really get behind. An initial target of 1<br />
million youths across the 36 states of the Federation should be set. If the Government (State and<br />
Federal) enable 1 million young Nigerians to start micro-businesses and then mandate each of them<br />
to create 10 jobs each within 4 years, then this initiative alone will add an additional 10 million new<br />
jobs to the economy.<br />
Micro-business initiatives are a win-win for both the government<br />
and its citizens because of the following reasons;<br />
• Microfinance is a loan and not a gift so the government<br />
(State and Federal) and all other investors who participate in<br />
the funding of the scheme will earn interest on their<br />
respective investments<br />
• The government will earn further revenue through the<br />
corporate and personal income tax that these new<br />
businesses and their employees will pay<br />
• Entire States will be transformed as a result of the millions<br />
of new jobs this initiative would create<br />
• Crime amongst the youth will be drastically reduced<br />
• WE CAN CREATE 10 MILLION NEW JOBS IN JUST 4 YEARS<br />
70
Change language