The Minister of Youth Development, Jamila Bio-Ibrahim, has disclosed that the Nigerian government has approved allocating N110 billion in capital startups and early growth stage businesses targeted at the youth demographic. The minister stated that the funds will be channeled through the revamped Nigeria Youth Investment Fund (NYIF) in partnership with the Bank of Industry (BoI). She emphasized the government’s commitment to creating opportunities for young entrepreneurs in critical sectors such as agriculture, manufacturing, and technology to spur economic growth and employment.
Moreover, the government has rolled out the Three Million Technical (3MTT) programme to enhance Nigeria’s tech talent pool and strengthen its digital economy, positioning the country as a net tech exporter. These initiatives aim to empower the youth by providing access to loans, business support services, vocational training, and technological skills to nurture innovation and entrepreneurship. With approximately 146,998 beneficiaries already engaged in various youth schemes, the government is actively investing in the future of Nigeria’s economy through youth empowerment and job creation initiatives.
