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| President Buhari presides over Federal Executive Council (FEC) Meeting in State House on 25th Nov 2020 |
LEST WE FORGET: OPPORTUNITIES FOR YOUNG NIGERIANS, BY THE BUHARI ADMINISTRATION
The Muhammadu Buhari Administration has always had youths as centerpiece of its policies.
Here is a brief compendium of some initiatives put in place, for Nigerian youths, to reposition and empower them:
1. N-Power: 500,000 enrolled in 2 batches between 2016 and 2020 receiving 30,000 monthly, with enrolment of 3rd batch of 400,000 in progress.
2. NYSC Monthly Allowance increased from N19,600 to N33,000; more than 300,000 beneficiaries monthly.
3. 75 billion Naira Nigeria Youth Investment Fund (NYIF), for businesses owned by young Nigerians aged between 18 and 35: https://www.cbn.gov.ng/…/NYIF%20implementation…
4. Special Public Works Programme to provide 3-month employment to 774,000 young Nigerians across the country (1,000 beneficiaries per LGA): https://specialpublicworks.gov.ng/site/
5. $20 million Fund for Nigerian Tech Innovators and Entrepreneurs, managed by BOI: https://www.boi.ng/
6. National Young Farmers Scheme: An initiative of the National Agricultural Land Development Authority (NALDA) to engage 1.000 youths in each of the 774 local government areas in mechanized agriculture: https://www.nalda.ng/#FAQ
7. The Accelerated Agricultural Development Scheme (AADS) by the CBN aims to engage a minimum of 370,000 youths in agricultural production across the country, over the next three years, in collaboration with State Governments. The goal is to facilitate increased private sector agricultural production of staple foods and industrial raw materials, as well as support food security, job creation and economic diversification. Prospective participants must provide evidence of capacity to engage youths as in-growers or out-growers to cultivate on the land after clearing. http://cbn.gov.ng/…/GUIDELINES%20FOR%20THE%20P-AADS.pdf
8. Creative Industries Financing Initiative (CIFI): An initiative of the CBN in collaboration with the Bankersโ Committee, to provide single-digit financing for the creative sector, as part of efforts to boost job creation in Nigeria. The initiative has four pillars, namely: i. Fashion ii. Information Technology iii. Movie iv. Music. https://www.cbn.gov.ng/…/creative%20industry…
9. DEEL – D โ Digital Skills E โ Entrepreneurship E โ Employability L โ Leadership. Targeting more than 500,000 young Nigerians with opportunities for training and entrepreneurship and leadership: https://noya.ng/initiatives/new-deel.aspx
10. NESP-Homes: The Mass Housing Strategy of the Nigeria Economic Sustainability Plan (NESP) envisages the creation of 1.8 million jobs starting with the construction of 300,000 homes in the next
12 months, using 100% locally sourced materials for construction. https://nesp.ng/document/Jobs.pdf
11. The 5M Solar Connections Programme, to expand access to 25 million Nigerians by providing 5 million new connections through the provision of Solar Home Systems, or construction and operation of mini-grids. The Programme will incentivise the creation of 250,000 new jobs โ particularly for young people โ in the energy sector. https://www.cbn.gov.ng/…/Solar%20Connections%20Facility…
12. The Energizing Education Programme (EEP) is an initiative of the Federal Government of Nigeria to provide clean power supply to 37 Federal Universities and 7 University Teaching Hospitals across Nigeria (independent power plant, street lighting, development of a world class training centre on renewable energy for each university, etc). Phase 1 has already commenced to deliver
28.5MW to 9 Federal Universities and 1 University Teaching Hospital, using solar hybrid and/or gas-fired captive power plants. https://eep.rea.gov.ng/about-eep/
13. Presidential Youth Empowerment Scheme (P-YES), to address the needs of unskilled and less educated youth, by targeting areas of activities that are of practical importance and are essential to every aspect of our economy, including agriculture and food processing, restaurant and catering, tailoring and fashion design, welding, carpentry and joinery, etc.
14. Annual National MSME Awards: https://msmeclinics.com.ng/award-categories/
15. The National Survival Fund, designed to reduce the negative impact of COVID-19 on businesses, including but not limited to the following: Free business name registration for 250,000 beneficiaries; One-off Payment of N30,000 to more than 300,000 artisans nationwide; and Payroll support of between N30,000 and N50,000 per staff for between 3 (minimum) and 10 (maximum) staff of qualifying MSMEs, for 3 months. http://survivalfund.gov.ng/
16. 52% of loans disbursed by the FG-owned Development Bank of Nigeria (DBN) in 2019 were to youths and women-owned businesses. Since 2017, when the bank began operations, the DBN has disbursed more than N150 billion through the bankโs 27 Participating Financial Institutions (PFIs), impacting close to 100,000 MSMEs. Development Bank of Nigeria PLC
Femi Adesina
Special Adviser to the President
(Media and Publicity)
November 25, 2020
