The Federal Government of Nigeria has launched a N110 billion National Youth Skills Programme (NYSP) designed to reduce youth unemployment by 20% over the next five years. The initiative, which was unveiled by the Minister of Youth, Dr. Jamila Bio-Ibrahim, is a significant step towards addressing the high levels of youth unemployment in the country.
Dr. Bio-Ibrahim highlighted that the NYSP will focus on providing skills training and financial support across 11 key sectors critical to Nigeria’s development, including agriculture, renewable energy, and the digital economy. Current government statistics reveal that over 42.5% of Nigerian youth are unemployed, with approximately 33 million lacking a clear career path.
For the 2024 fiscal year, the programme has earmarked N110 billion, with additional support through the Nigerian Youth Investment Fund (NYIF). The NYIF will offer grants, loans, and mentorship to youth-led businesses, ensuring that young entrepreneurs have the resources they need to succeed.
To promote inclusivity, the programme has reserved 50% of its participation for female youth and guarantees full access to training for persons with disabilities. Dr. Bio-Ibrahim also called for private sector involvement, urging businesses to collaborate with the government in providing training, apprenticeships, and mentorship opportunities.
A comprehensive Monitoring and Evaluation (M&E) Framework has been established to track the programme’s progress and measure key performance indicators. The NYSP is designed to bridge the gap between skills acquisition and financial support, offering a holistic solution that includes mentorship, financial assistance, and industry partnerships.
The Federal Government’s initiative aims to empower Nigerian youth, equipping them with the necessary skills and resources to contribute to the nation’s economic development and reduce the alarming unemployment rate.
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