Vice President Kashim Shettima has announced the Federal Government’s plan to establish a Presidential Initiative on Youth Enterprise Clusters, with an allocation of N110 billion. This announcement was made during the 2024 World Population Day event at the Banquet Hall of the State House in Abuja.
The Presidential Initiative on Youth Enterprise Clusters aims to engage young people and women actively in governance and economic activities. This initiative is distinct from the previously approved Youth Investment Fund, which has a budget of N100 billion.
Vice President Shettima emphasized President Bola Tinubu’s commitment to ensuring the active involvement of young people and women in the governance and development of the country. The initiative is designed to foster entrepreneurship and provide opportunities for youth engagement.
During the event, Vice President Shettima highlighted the critical role of data in population planning and development, stressing that accurate data is essential for effective policy-making and resource allocation.
Minister of Youth Development, Jemila Ibrahim, reiterated the Federal Government’s plan to establish a national youth development bank. This bank aims to increase access to capital for young Nigerians and support their entrepreneurial ventures.
Minister Ibrahim noted that the new initiative would promote entrepreneurship among the youth. She emphasized that the ministry’s role is to create an enabling environment and provide opportunities for young people to thrive and prosper.
The Federal Government’s launch of the Presidential Initiative on Youth Enterprise Clusters represents a significant investment in the future of Nigeria’s youth. With a budget of N110 billion, this initiative seeks to empower young entrepreneurs, facilitate their active participation in governance, and promote economic growth.
