FG mulls youth enterprise cluster worth N110bn – Shettima

The Federal Government has revealed plan to set up a Presidential Initiative for Youth Enterprise Cluster worth N110 billion.

Vice-President, Kashim Shettima, made this known on Thursday at the commemoration of the 2024 World Population Day (WPD), organised by the National Population Commission (NPC) at the Presidential Villa, Abuja.

This, he said, 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.

The News Agency of Nigeria (NAN) reports that WPD is annually commemorated on July 11 around the globe to raise awareness of global population issues and to celebrate those who contributed to solving such issues.

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The 2024 edition of the global observance has “Embracing the Power of Inclusive Data Towards a Resilient and Equitable Future for All” as its theme.

Shettima, therefore, said “it is worthy to note that under the present dispensation, we were able to fulfill the 30 per cent quota for youth inclusion in governance across all tiers of government and most importantly, the President has walked the talk.

“He approved 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 Cluster worth N110 billion.

“This is in addition to the Youth Data Bank that minister earlier talked about that we are setting up.”

The vice-president pointed out that if governments at all levels have access to inclusive data sources, policy actions and investments would align with the needs of citizens.

He listed the needs to include the provision of decent jobs that pay sustainable incomes to working-age population, creation of affordable and equitable access to quality healthcare services at all levels, and quality education for all.

Shettima, who is the Chairman, National Economic Council (NEC), pledged to use the platform and other networks within his purview to ensure people and communities remained government’s focus for development.

He added that “I believe that aligning the people with investment choices will transform quantity (numbers) to quality (capital) and from liability to assets, guaranteeing rapid economic growth.”

Earlier, the Minister of Youth Development, Dr Jamila Bio-Ibrahim, had urged partners present at the event to leverage scientific evidence to resolve challenges confronting the various segments of the world’s population.

She also disclosed plans by the Federal Government to build a youth data bank that would be dedicated to harnessing the potential of young people for national development, regardless of their location and status.