A Senior Lecturer of Political Science and International Relations at the Nigerian British University, Dr. Lucky Nkem Eleogu, has called for the strategic and effective utilisation of the sum of Four Million Naira recently donated to the Owaza Youth body by a chieftain of the Labour Party, (LP), Engr. Adinigwe Ugochukwu Nwoke.
In a publication, Eleogu described the donation seed capital for youth enterprise and empowerment that should be effectively managed for sustainability, adding that the fund could be grown to bring about massive empowerment of youths in the area.
According to him, the fund should be diversified into three major areas for the benefit of the youths, ranging from technical and professional training providing vocational skills to granting of revolving.loans out of the fund.
He explained that N2 million of the fund should be allocated to technical and professional skills training, with international oil companies, N1.4 million for vocational and small scale enterprise empowerment, and N.6 million for a controlled revolving loan and oversight functions.
Eleogu further highlighted the governance and institutional framework for managing the fund as follows:
a) Steering Committee Composition
* One representative per clan (4)
* One donor representative
* One financial advisor / community development expert
b) Financial Safeguards
* Dedicated account: Ipu West Owaza Youth Empowerment Trust Fund account to be opened.
* All disbursements by cheque or direct transfer to beneficiaries or training centres.
* Transparent documentation and quarterly publication of activities.
C. Sustainability Mechanisms
10% of future repayments or profits re-invested annually.
Top beneficiaries to train a new batch within 12 months (“Train-2-Train Model”).
The University Don said his intellectual intervention would bring peace in the community and Youth engagement that reduces social tension and restiveness, adding that the donor legacy will be visible with a lasting impact inside and outside the community.
In conclusion, he stated that the ₦4 million donated fund would transmute into a multi-layered investment with the potency of addressing employment, entrepreneurship, and positioning Engr. Nwoke as a developmental trailblazer, as well as laying the foundation for a structured Youth Economic Empowerment Trust Model; fit for replication across other communities in Owaza and the greater Ukwa West LGA in Abia State.
