The latest version of youth empowerment scheme 2.0 has spit out some results. The winners of the FG’s Youwin program were announced last night. Youwin is a plan to provide seed money to about 1200 entrepreneurs with ideas or already existing projects. The idea is to promote entrepreneurship and business.
Yes you are thinking what I am thinking. Who chose the winners and how were they chosen? I don’t know but that is not really a relevant question. Can the government pick businesses that will succeed in the market even if they genuinely tried to? Now that is the question. The answer is probably not. If I was a betting man I would bet on 95% of the chosen businesses becoming non existent by 2015. Governments aren’t very good at picking winners in the market and we know that. Could the government have used the Youwin money for something more efficient. An extra power plant, part of a new highway or any other public project?
Ah I promised to stop being so cynical about Nigeria. I guess on some level it is better if resources go to entrepreneurs with ideas than to politicians with Swiss bank accounts.