Jubilation As Tinubu’s Govt Approves N110 Billion for Youth Startups “Enterprise Clusters”
- The Nigerian government led by President Tinubu has announced a N110 billion investment in youth development
- Vice President Kashim Shettima disclosed the details of FG's plan on Thursday, July 11, at an event in Abuja
- According to Shettima, this plan is in addition to a Youth Data Bank and a National Youth Development Bank, as well as the already existing N110 billion Youth Investment Fund
Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements
State House, Abuja - The federal government led by President Bola Ahmed Tinubu has disclosed plans to establish a Presidential Initiative on Youth Enterprise Clusters that will cost N110 billion.
Source: Facebook
Vice President Kashim Shettima made this disclosure on Thursday, July 11, at an event to commemorate the 2024 World Population Day held at the Banquet Hall of the State House, Abuja.
In a statement shared on X by the Presidency, Shettima said President Tinubu is passionate about ensuring the inclusion of youths and women in his government.
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What to know about "Youth Enterprise Clusters"
According to Shettima, the Presidential Initiative in Youth Enterprise Clusters is different from the Youth Investment Fund, which the Federal Executive Council approved during one of its meetings, which also allocated the sum of N100 billion.
The Vice President emphasised the importance of data in population planning and development.
Shettima said:
“It is worthy to note that under this present dispensation, we were able to fulfill the 30% quota for youth inclusion in governance across all tiers of government and most importantly, the President has walked the talk. He approved the sum of N110 billion for the Youth Investment Fund.
“We are setting up the National Youth Development Bank. We are going to set up the Presidential Initiative for Youth Enterprise Clusters worth N110 billion. This is in addition to the Youth Data Bank that the minister earlier talked about that we are setting up.”
Tinubu to establish Youth Data Bank and a National Youth Development Bank
Confirming the development, the Minister of Youth Development, Jemila Ibrahim, reiterated the federal government’s decision to establish a national youth development bank. She noted that this is part of Tinubu's efforts to increase access to capital for young Nigerians
Speaking further, the minister added that the initiative would promote entrepreneurship among the youth, saying that the job of the ministry was to create the enabling environment and opportunity for young people to prosper.
Tinubu's FG set to empower 5,000 NYSC members with N10m each
In a similar development, Legit.ng reported that the federal government, through the minister of Youth Development, Jamila Ibrahim, announced a 10 million grant to 5,000 corps members at the end of their service year.
She made this announcement during the swearing-in ceremony of the 2024 Batch B Stream 1 corps members in Niger state.
The NYSC, which was established 52 years ago, was designed to foster unity and diversity by ensuring that young graduates undertake a compulsory one-year service in a state different from their state of origin.
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Source: Legit.ng
