The Federal Government has inaugurated a technical committee to lay the groundwork for the National Youth Bank, an initiative aimed at empowering young Nigerians, fostering innovation, and driving sustainable development.
The announcement was made by the Minister of Youth Development, Comrade Ayodele Olawande, during an inauguration ceremony in Abuja. The Ministry’s Director of Information and Public Relations, Omolara Esan, provided further details in an official statement.
Key Objectives of the National Youth Bank
- Empowerment and Inclusion
The Youth Bank will provide financial support, mentorship, and capacity-building opportunities to help Nigerian youth turn their ideas into reality.- It aims to prioritize inclusivity, ensuring equal access regardless of socioeconomic status, gender, or location.
- Transparent and Accountable Framework
The committee has been tasked with establishing governance structures, defining financial services, and creating sustainable strategies to ensure long-term success. - Strategic Partnerships
The bank’s success will rely on collaborations with key stakeholders, including:- Development Bank of Nigeria (DBN)
- Central Bank of Nigeria (CBN)
- Bank of Industry (BOI)
- Ministry of Finance
- Nigerian Sovereign Investment Authority (NSIA)
Vision for the Youth Bank
Minister Olawande emphasized that the Youth Bank aligns with President Bola Ahmed Tinubu’s vision of creating opportunities for young Nigerians to become leaders, innovators, and entrepreneurs.
“The Youth Bank will not just provide financial capital but also offer resources, mentorship, and capacity-building programs to help young people achieve their ambitions,” Olawande noted.
Stakeholder Support
- Development Bank of Nigeria (DBN): Co-chaired the inauguration event and pledged ongoing support.
- Bank of Industry (BOI): Reaffirmed its commitment to collaborating with the ministry to achieve the bank’s goals.
- Permanent Secretary of the Ministry of Youth Development, Olubunmi Olusanya: Highlighted the untapped potential of Nigerian youth, emphasizing the bank’s critical role in addressing barriers to success.
The establishment of the National Youth Bank represents a significant step toward empowering Nigeria’s youth and fostering inclusive economic development. With a focus on transparency, accountability, and collaboration, the initiative seeks to unlock the potential of millions of young Nigerians, enabling them to drive innovation and economic growth across the country.
Further updates on the progress and operational framework of the Youth Bank are expected in the coming months.
