YDC-OOPL Credit Scheme 2.0
The constant economic downturn, high rate of unemployment, the quest for fast money and the seeming recovery from the devastating effect of COVID-19, have put a huge dent in the financial lives of many young people. As many monthly salary earners’ appointments expire and unemployment spikes, meanwhile, some personal loan lenders have tightened approval requirements, and others have introduced low-rate soft loans to consumers who are dealing with financial hardship.
The YDC-OOPL Micro Credit Scheme Project is facilitated by the Chief Promoter of the Olusegun Obasanjo Presidential Library, under the aegis of its Youth Development Centre to empower young business owners with a soft loan to boost their businesses and to educate young (ages 18 – 35) and upcoming business owners on the pros and cons of operating a successful business in Nigeria. Through these processes, we can educate and improve their entrepreneurial skills thereby contributing to SDG goals 1, 2, 8, 9 and 12
The second edition of the scheme registered 497 applications and 6 beneficiaries were selected after a thorough screening process. The loans were presented to the beneficiaries on the 5th of March, 2023 in commemoration of the Chief Facilitator’s 86th birthday.