Due to the serious threat that high unemployment rates represent to the country, Minister of Youth Development Dr. Jamila Bio Ibrahim stated over the weekend that his ministry has created new projects and reorganised current ones to address the requirements of youngsters.
Speaking at the African Youth programme’s 12th Youth Summit on Crime Prevention in Lagos, Dr. Ibrahim added that the new programme 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.
Youth empowerment is bolstered by the NYIF, which offers training on creating scalable and sustainable enterprises and provides financing to support our youth.
“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-owned enterprises, and youth entrepreneurs.
The National Youth Development Bank and the Nigerian Youth Investment Fund are ground-breaking programmes that lower youth criminality and promote inclusive, safe communities.NYIF addresses youth unemployment and the financial desperation that can result in criminality by empowering young people to launch and expand enterprises through training and lending programmes.
These programmes keep young people constructively engaged by offering them possibilities for entrepreneurship, preventing the dissatisfaction and idleness that can eventually turn into crime.