FG to Invest $220m in Youth Employment, Enterprise Dev

According to Vanguard News, The Federal Government of Nigeria has announced plans to invest $220 million in creating employment and business opportunities for young Nigerians across various sectors of the economy.

The initiative, which is part of a broader national strategy to tackle youth unemployment and promote innovation, was confirmed by senior government officials earlier this week. According to the announcement, the fund will support programmes aimed at enhancing entrepreneurship, digital skills, and small scale enterprise development nationwide.

The investment, expected to be implemented through the Ministry of Youth Development in collaboration with private and international partners, will focus on empowering young people with access to finance, training, and mentorship. Officials said the programme aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes job creation and inclusive economic growth.

A portion of the fund will also be allocated to start ups and tech driven enterprises led by young Nigerians. The government believes that by fostering innovation and providing access to capital, the initiative will help reduce the country’s dependence on imports and boost local productivity.

Speaking on the development, the Minister of Youth Development emphasized that the investment would “create a pipeline of skilled, employable, and entrepreneurial youth ready to drive Nigeria’s future growth.”

Economic experts have welcomed the announcement, noting that a transparent and accountable implementation process will be key to achieving meaningful results. They also highlighted the importance of ensuring that rural communities and marginalized groups benefit equally from the programme.

If successfully executed, the $220 million youth employment investment could become one of the most impactful government initiatives in recent years, addressing Nigeria’s pressing challenge of youth unemployment while strengthening its human capital base.

COURTESY: DeGreat.News