The Federal Government and an non-governmental organization have created a strategic collaboration to create employment opportunities for youths in priority sectors.
This was announced by the Minister of Youth Development, Dr. Jamila Bio-Ibrahim, during a courtesy visit by Mr. Abraham Ndambuki, the Grants, Finance, and Risk Management Officer of the NGO, in Abuja
The primary goal of the fund is to catalyze enterprise expansion, amplify efforts, and maintain the establishment of dignified and rewarding employment opportunities for young Nigerians.
The ministry is focusing on priority sectors such as Agriculture, Climate Adaption, Digital Economy, Blue-economy, Mining, and Renewable Energy so as to establish young people in Small and Medium Enterprises (SMEs).
Dr. Bio-Ibrahim also emphasized that the partnership would prioritize inclusivity by focusing on men, women, individuals with disabilities, and Internally Displaced Persons (IDPs).
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Fostering inclusivity in employment opportunities
Dr. Bio-Ibrahim underscored the partnership’s commitment to inclusivity, targeting men, women, individuals with disabilities, and Internally Displaced Persons (IDPs).
She elaborated on the selection process, emphasizing the formation of participant clusters to foster mutual support and capitalize on each other’s strengths.
Moreover, she emphasized that this strategy would bolster the chances for young entrepreneurs to secure funding. Dr. Bio-Ibrahim also pledged to furnish the fund with a thorough database of eligible youth beneficiaries, guaranteeing the longevity and prosperity of their enterprises.
- “We are also in the process of designing a framework for a Youth Development Bank, while the Youth Investment Fund is being reviewed.
- “We want to improve and expand on this programme. We will operationalise the fund.
- “We are open to ideas on how we can work together and collaborate on those government priority sectors,” she said.
Nigeria as a central focus
Ndambuki noted that Nigeria holds a central position in the organization’s agenda, emphasizing that the fund’s establishment in the country aims to identify key stakeholders for partnership as the program commences in April.
He highlighted that the program has been rolled out in 20 African nations, with Nigeria being among them.
He added,
- “We have engaged 35 different stakeholders, including government officials and the private sector, as
the programme is in its second phase. The first phase was completed last year, and it lasted for 10 years. - “It was valued at 50 million dollars, and we succeeded in disbursing the entire 50 million dollars across eight countries.
- “The foundation has come with a second phase and increased the amount to 126 million dollars, equivalent to approximately
N194 billion in today’s rate. - “It will last for the next seven years, so we are now in the first year, which is the preliminary stage, and that is why we are
performing the visibility market research to identify and understand the Nigerian markets.”
