Taiwo Afolayan
This announcement came from the Minister of Youth Development, Dr. Jamila Bio Ibrahim, during the Ministerial Sectoral Update commemorating the first year of the President Bola Tinubu administration, held at the Radio House in Abuja yesterday.
During her presentation, the minister highlighted that the creation of the bank aligns with the ministry’s mandate, which is “to formulate, implement, monitor, and evaluate policies and programs that promote youth development, wealth creation, empowerment, wellbeing, excellence, national unity, and sustainable development, ultimately empowering young Nigerians to realize their full potential and contribute positively to the nation’s growth.”
Expanding on the ministry’s objectives, she mentioned being tasked with 11 deliverables within specific presidential priorities, including establishing a framework to foster the establishment and growth of multiple Micro, Small, and Medium Enterprises (MSMEs) incubators, accelerators, and innovation centers across the six geopolitical zones.
Furthermore, she disclosed that 146,998 Nigerians have been earmarked for vocational, social inclusion, technology, agriculture, and entrepreneurship training. The Federal Executive Council has also approved N110 billion in capital for startups and early-stage businesses through the restructured Nigerian Youth Investment Fund (NYIF). Additionally, plans are underway to institutionalize a 30% Youth Quota with equitable inclusion of young women in all government appointments.
