FG plans creation of youth bank to boost entrepreneurship
The Federal Government, through the Ministry of Youth Development, has disclosed that all is set to create a youth bank, offering loans, grants and other financial products to support young entrepreneurs, fostering innovation and job creation.
According to the Minister of Youth Development, Mr Ayodele Olawande, at a media parley on Tuesday in Abuja, efforts are underway to have a Nigerian Youth Employment Action Plan in addressing the country’s unemployment problem.
“Establishing a youth bank has numerous benefits for young people and communities.
“By supporting youth-led businesses, youth banks can contribute to employment generation and economic growth.”
He said the bank would provide education, training, and employment opportunities.
Olawande said the ministry also unveiled the Youth Activities Dashboard, where activities and initiatives would be displayed.
“We are saying that everybody should go on this dashboard to get information.
“We have discovered that there are more than 7,000 activities of youths in Ministries, Departments and Agencies (MDAs) and others that do not reside in Ministry of Youth,” he said.
The minister said the student loan scheme was a tool to fight poverty, adding that the loan scheme aligned with his administration’s commitment to inclusiveness.
He assured of sufficient funding to sustain the programme.
According to him, the country has more than 60 per cent of young people; hence, much can be achieved with the enabling environment.
Olawande said that the ministry was making critical decisions and suggestions to President Bola Tinubu for implementation.
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On the issue of corps members posting, he appealed to employers to accept corps members posted to their organisations for their mandatory one-year service.
According to him, there is a directive lifting the ban on the posting of corps members to private sector institutions.
“On Nov. 19, the Federal Government lifted the ban restricting the posting of corps members to the public sector, allowing for corps members to be posted to private sector organisations, including banks and oil and gas companies,’’ he said.
He said that the government also mandated its parastatals to accept corps members posted to them.
NAN
