PAN, NSE plan $700m youth empowerment scheme

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Hundreds of Nigerian youths are expected to benefit from a $700m empowerment initiative being put together by local vehicle assembler, PAN Nigeria Limited, with the support of the Nigerian Society of Engineers.

The scheme, Shade Tree Youth Empowerment Initiative, is designed to provide entrepreneurial skills to interested young people within the value chain of the automotive industry, according to a statement by the auto company.

It said, “The project will provide employment generation, wealth creation, modernization and standardization of practices and skills within the service arena of the automotive industry.”

Already, the scheme would be launched at the company’s factory in Kaduna on Wednesday (tomorrow) as part of its corporate social responsibility programme.

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It quoted PAN Nigeria’s Managing Director, Mr. Ibrahim Boyi, as describing the project as an industry-specific initiative for the empowerment of Nigerian youth willing to become entrepreneurs in the automotive sector.

It named the President, Nigerian Society of Engineers, Mr. Otis Anyaeji, as the Chairman of the scheme’s Board of Trustees.

The statement also said that the prototype of the STYEI garage would be inaugurated by the Minister of Trade, Industry and Investment, Mr. Okechukwu Enelamah.

Read Also:  Jaiz Bank is worst performing stock on NSE

The initiative, it added, would be supported by the United Nations Development Programme through the country director as well as other development partners.

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PAN Nigeria recently promised to support the President Muhammadu Buhari administration through the creation of jobs and other measures that could speed up the development of the nation’s economy.

The PAN Nigeria’s team led by Boyi gave the pledge during a visit to the Vice-President Yemi Osinbajo.

Osinbajo assured the team that the administration would always take a responsible decision that would promote and protect the local industries, including the automobile industry, indicating renewed government’s patronage of local products.

Source: Punch

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