The House of Representatives has received the report on a bill seeking to establish the National Youths Scheme Fund.
The report, which was submitted to the House at plenary on Tuesday, was put together by the House Committee on Youth Development, chaired by Martins Esin from Akwa Ibom State.
A copy of the report, obtained by newsmen, revealed that when established, the Fund shall, among other things, be responsible for working out the possible required monetary details that will enhance youth welfare.
The Fund shall also “Monitor the operation and evaluate the progress of the scheme, liaise with the relevant stakeholders in determining the projects and programmes of the Fund and work out the modalities needed to identify youths that will benefit from the initiative.”
The Committee proposed an age limit of 18-35 years to qualify for the Fund.
Section 8 (1) of the bill reads, “For a person to be eligible to benefit from the Fund, the person shall be a youth between the ages of 18 and 35; provide a verifiable residential address; demonstrate the need to be assisted from the Fund; present a letter of attestation from his village or community leader identifying the person as an indigene of the village; and provide any other thing that the fund may from time to time request.”
The Fund shall be administered by a board which consists of an executive chairman; a representative of the Secretary to the Government of the Federation; six members, each representing each of the six geo-political zones of the country; and the Permanent Secretary, Ministry of Youth Development.
The chairman and members representing the six geo-political zones may on the recommendation of the Minister of Youth Development, be appointed by the President.
The bill makes provisions for funding in Section 12 which reads, “The Fund shall establish and maintain funds which shall consist of all subventions and budgetary allocation from the Federal Government; all funds, assets, resources, undertakings and such rights and interests as the Fund may from time to time acquire and all sums accruing to the Fund, from time to time.”
Others are “gifts, donations and contributions from national and international Institutions and philanthropists, fees, if any, charged by the Fund for services rendered and contribution of 0.05 per cent of net earnings by both public and private organisation.”
The bill in Section 14 read that “The Fund shall not later than September 30 each year or other date stipulated by law or policy, submit to the National Assembly an estimate of expenditure or income of the Fund as approved by the Board for the next fiscal year for incorporation into the national budget.
The Fund may “With the written approval of the Board and subject to the guidelines and policy of the Federal Government, borrow such money needed for the exercise of its function, provided that such borrowing shall be made on the terms and conditions that do not compromise the competence of the Fund.
The PUNCH
