During the 4th Federal Executive Council (FEC) meeting in Abuja, the government approved the implementation of a 10 percent youth quota in all governmental appointments, emphasizing fair representation for young women. Minister of Youths, Jamila Ibrahim, disclosed this decision, highlighting the council’s commitment to youth inclusion and empowerment.
In addition to the youth quota, Minister Ibrahim announced the restructuring of the Nigerian Youth Investment Fund and the revitalization of the Youth Investment Fund. These initiatives signify the government’s dedication to fostering youth entrepreneurship and economic participation, aiming to harness the potential of the country’s young population.
The incorporation of the youth quota underscores a strategic move towards addressing youth unemployment and enhancing youth engagement in governance and decision-making processes. By ensuring a more significant presence of young people in government roles, the administration seeks to tap into fresh perspectives and innovative ideas to drive national development.
Overall, the FEC’s approval of the 10 percent youth quota and the revitalization of youth investment funds reflects a proactive approach to youth empowerment and inclusivity, signaling a commitment to harnessing the demographic dividend and fostering a more vibrant and dynamic society.
“This will in turn lead to young people contributing tremendously to national development agenda.”
“I’m also pleased to announce the second council approval to restructure and institutionalise the Nigerian Youth Investment Fund.”
“This is a fund that was approved in 2020 and on assumption of Office of this administration, we commissioned a technical committee to review this fund and restructure it with the aim of institutionalising it through a legal framework, which will lead to the establishment of the Nigerian Youth Fund.”
“We have secured council approval for the immediate release of N25 billion from the 2023 supplementary Appropriation Act and an additional N25 billion from the 2024 Appropriation Act under the Youth Development Fund for Development provision in the budget.”
“We also received an additional approval from council for a N60 billion release from the Central Bank of Nigeria through the agric. investment of small medium enterprises,” she said.
Ibrahim said that these schemes would support young businesses and bring a lot of succour to young persons in the country.
She said that the commencement of the schemes would be done with collaboration from relevant agencies like agriculture and food security, creative economy as well as state governments among others.