President Bola Ahmed Tinubu has inaugurated the Nigerian Youth Academy (NiYA) as part of the federal government’s strategy to address Nigeria’s low human capital index, high youth unemployment, and other socio-economic challenges. The initiative was officially launched at the Presidential Villa in Abuja, with Vice President Kashim Shettima representing the President at the event.
The launch of NiYA comes at a time when Nigeria’s unemployment rate has dropped to 4.3% in the second quarter of 2024, reflecting a slight improvement from the 5.3% recorded in the first quarter. However, on a year-on-year basis, the rate has increased marginally by 0.1 percentage point compared to the same period in 2023, according to data from the National Bureau of Statistics.
Shettima, in his address, reiterated the administration’s determination to equip young Nigerians with the necessary skills to compete in an increasingly globalized world. He emphasized that the academy would provide world-class training in digital literacy, technical skills, entrepreneurship, and the creative industries, positioning Nigerian youth as key players in the international workforce.
He noted that with a median age of 17, Nigeria has one of the youngest populations in the world, a demographic reality that presents both opportunities and challenges. He warned that as the country moves toward becoming the world’s third-largest nation by 2050, with a majority of its population under 21, it must take deliberate steps to harness its youthful energy for national development.
“NiYA is a bold response to Nigeria’s low human capital index ranking, unemployment, and other barriers to progress,” Shettima said, assuring that within the next two years, the academy would train and empower millions of young Nigerians.
He outlined three core focus areas for the academy—education and skills development, economic empowerment, and leadership and civic engagement. He explained that these pillars would ensure young Nigerians are equipped with the tools needed to transform their potential into tangible contributions to the economy.
Beyond skills training, Shettima announced that the government would provide financial support through initiatives such as the Youth Investment Fund and the Presidential Initiative for Youth Enterprise Clusters. These programs will offer funding, mentorship, and resources to aspiring young entrepreneurs. Additionally, he disclosed plans to establish a National Youth Development Bank to provide capital for start-ups and small businesses.
He acknowledged the persistent challenges facing young Nigerians, including limited access to economic opportunities, learning poverty, and an underwhelming human capital index ranking. “These statistics are not just numbers; they reflect lives disrupted, dreams deferred, and futures left uncertain,” he said, stressing that the Nigerian Youth Academy is committed to reversing these trends.
As part of the launch, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced that six members of NiYA—each representing a different geo-political zone—received a start-up grant of N1 million. The financial support is intended to help them implement their business ideas and establish themselves as self-employed professionals.
Edun emphasized that empowering young Nigerians with both skills and financial resources is essential to unlocking their full potential. He encouraged the beneficiaries to maximize the opportunity, noting that the academy’s long-term vision is to create a generation of highly skilled, self-reliant, and globally competitive young professionals.
With the launch of NiYA, the federal government is positioning skills acquisition and youth entrepreneurship as central to its economic development agenda, aiming to bridge the gap between education and employment while tackling the country’s human capital deficit.
