Unemployment Problems: FG’s New Action on Empowerment Initiatives for Youths
Unemployment Problems: FG’s New Action on Empowerment Initiatives for Youths
Dr. Jamila Bio Ibrahim, Minister of Youth Development, stated over the weekend that in response to the serious threat that high unemployment rates represent to the country, his ministry has created new programs and reorganized current ones to better serve the needs of youth.
Speaking at the African Youth program’s 12th Youth Summit on Crime Prevention in Lagos, Dr. Ibrahim added that the new program aims to sustain solutions that address long-term concerns.
“One of our initiatives is the Nigerian Youth Investment Fund, NYIF, which promotes entrepreneurship and job creation,” stated Ibrahim, who was represented by Ms. Olufela Olaloye-Sosan.
“The NYIF serves as a cornerstone for youth empowerment by supporting our youth through loans and offering training on creating scalable and sustainable businesses.”
“In addition, we have started the groundbreaking process to establish the National Youth Development Bank (NEXTGEN BANK), a joint venture with the Bank of Industry, BOI.”This bank offers financial solutions designed especially for youth-backed businesses, youth sector enterprises, and young entrepreneurs.
“The Nigerian Youth Investment Fund and the National Youth Development Bank are transformative initiatives to reduce youth crime and foster safe, inclusive communities. ”By providing loans and training, NYIF empowers young people to start and grow businesses, tackling youth unemployment and the financial desperation that can lead to crime.
”By providing opportunities for entrepreneurship, these programs keep youth constructively engaged, preventing idleness and frustration that can lead to delinquency.”
