The Minister of Youth Development, Dr Jemila Ibrahim, made this known in Abuja on Monday during a town hall meeting with youth delegates from states in the North Central zone.
“The Federal Government is retooling our youth.
“The Federal Executive Council approved 30 per cent youth quota in all the federal appointments.
“The federal government also approved the take-off of the National Youth Development Bank, as well as the inauguration and implementation of the Nigeria Youth Investment Fund (NYIF),” she said
Ibrahim said that this important initiative marks a watershed moment in Nigeria’s economic development with youth innovative ideals at its core.
“Following my assumption of office as the Minister of Youth Development, we embarked on a robust restructuring of the existing NYIF Programme.
“Our effort was swiftly crowned by the approval of the FEC for the substantial expansion of the programme, increasing the NYIF budget from N75 billion as of 2022 to N110 billion for the 2024 fiscal year.
“This significant increase is an unprecedented commitment by President Bola Ahmed Tinubu, enabling millions of young entrepreneurs to turn their innovative ideas into thriving businesses capable of creating jobs and driving sustainable economic growth for all without any doubt.
“These youth enterprises will engineers the actualisation of the trillion dollar economy ambition of President Bola Ahmed Tinubu’s administration.
“The overwhelming response to the ‘NYIF relaunch, with over 80, 000 applications in the first 72 hours, reflects the eagerness and readiness of the industrious youth of our great nation to take advantage of this opportunity.
“As a matter of fact, it underscores the urgent need for such support to bolster the entrepreneurial spirit of Nigerian youth,” she said.
The minister said that the NYIF will create focused financing and funding mechanisms for youth-enabled businesses and innovations to keep the youth gainfully engaged in productive ventures.
According to her, to maximise impact, the programme has been restructured to focus on existing high-potential businesses and create strategic clausters that will generate up to two million direct and indirect jobs in three years.
She reiterated that the government recognizes the importance of partnership and collaboration in achieving all the goals.
Ibrahim called on all stakeholders, including government at all levels, the private sector, traditional and religious leaders, Civil Society Organisations (CSOs) and the media, to join hands in mobilizing youth across all social strata to benefit from the NYIF.
According to her, together we can foster an environment where young entrepreneurs are given the necessary support to drive economic growth, and build the desired future for the nation.
She thanked President Tinubu for creating the ministry of youth development, separating it from that of sport, and for appointing young Nigerian as his ministers.
Also speaking, Mr Sunday Asefon, the Senior Special Assistant (SSA) to the President on student matter stated that the President had done so much to the education sector.
He called on youths to shelve the proposed Aug. 1 nationwide protest.
“The president has invested somuch on the education sector, he is alsoplanning a successor generation that will allow the youth to be in charge of governance
“The government has embarked on so many initiative towards youths empowerment, the government is working towards making education affordable,” Asefon said.
NAN
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