CACOVID Commits Over N100bn To Procure Equipment For The Nigeria Police
………..N150bn to be deployed towards youth development program,
Oru Leonard
The Coalition Alliance Against COVID-19 (CACOVID), has said it will provide over N100bn to procure equipment and gadgets for the Nigeria Police Force over the next 2 years; as contribution to fully modernize the Nigeria Police and to further strengthen the security apparatus in the country.
CACOVID), has also said it will rehabilitate all 44 damaged and destroyed police stations nationwide in a bid to restore provision of security in affected locations.
This is just as CACOVID has also committed to provide over N100bn to procure equipment and gadgets for the Nigeria Police Force over the next 2 years; as contribution to fully modernize the Nigeria Police and to further strengthen the security apparatus in the country.
The Central Bank Governor, Mr. Godwin Emefiele disclosed this after meeting with the Bankers Committee and critical stakeholders in the private sector, under the auspices of the CACOVID alliance. He said the measure is to develop measures that will support the government’s efforts in rebuilding confidence in our nation’s economy.
Emefiele noted that their preliminary analysis indicates that unemployment particularly amongst the youth was a critical factor behind the #EndSARS unrest, and as a result, CACOVID has committed to create a high impact youth development program that will provide technical and vocational education to over 4 million Nigerian youths over the next 5 years.
He revealed that students will be trained on craftwork, plumbing, masonry, capentry, and other artisanal related skills for which sufficient demand exist in Nigeria. Over N150bn is expected to be deployed towards the set up and implementation of the youth development program, which will be available at select training centers across the country.
According to him, “Selected students on conclusion of the program will be certified by the appropriate standards board and will be eligible to receive loans to support their entrepreneurial pursuits. So far, over N25bn will be domiciled in a fund to support these entrepreneurial pursuits, which would also include acquisition of related equipment’s to conduct business activities”.
He said that the ultimate objective is to provide young Nigerians with employable skills sets that will enable them to live a gainful life, adding that they believe this initiative can lead to the creation of over 4m jobs over the next five years.
Speaking on the out-of-school graduates that possess certain Entrepreneural skills, he noted that CACOVID will be working with Bankers Committee to complete the Creative center at National Arts Theater area of Lagos in four select areas namely; ICT and software design / development, Fashion, Music and Movies, stating that the project is expected to cost the Bankers Committee over N40 Billion.
“Given the impact the unrest had on the conduct of business activities, members of CACOVID has committed to develop a business continuity plan, that will enable businesses and firms to share timely information and resources to forestall physical or cyber-attacks, which could derail the smooth functioning of business activities in the country. Details of all the support stated above will be released in due course to Nigerians”, he said
Emefiele further said that banks and financial institutions would be required to extend relief through concessionary loans to affected businesses and firms, so they can rebuild and restock their stores and continue to conduct their business activities.
The CBN Governor expressed that providing adequate security is not only the task before the government but also that of the private sector.
“Indeed, owners of business premises desire a secure environment to conduct their legitimate businesses. We therefore seize this opportunity to once again, appeal to members of the private sector, who we will be calling on again, to rally round CACOVID to secure not only our businesses but also our country”, he pleaded
