Governor Babajide Sanwo-Olu of Lagos State has called for increased collaboration between the government, private sector, and non-governmental organizations (NGOs) to address the pressing issue of youth unemployment in Nigeria. Recognizing the insufficiency of existing interventions, the Governor emphasized the need for greater investment and support to cater to the growing demand for employment opportunities.
Governor Sanwo-Olu made this appeal during a courtesy visit from a delegation representing Prince’s Trust International, a renowned global youth charity, on Wednesday at the State House, Marina. Leading the delegation were Mr. Will Straw, Chief Executive Officer of the charity, and Mr. Shabir Randeree, Chairman of the Board of Trustees. Prince’s Trust International, founded by His Majesty, King Charles III, in the United Kingdom, aims to combat the global crisis of youth unemployment.
Highlighting the efforts of the Lagos State Government through the Lagos State Employment Trust Fund (LSETF), Governor Sanwo-Olu revealed that over 50,000 new Micro, Small, and Medium Enterprises (MSMEs) established by young entrepreneurs have been supported with seed capital. However, this number falls short of the overwhelming demand from aspiring youth entrepreneurs in the state. The Governor stressed the necessity of doubling these efforts to stimulate wealth creation across the startup ecosystem and generate new employment opportunities. He encouraged the charity to focus its funding towards enabling more entrepreneurs with business development skills and seed capital, thus expanding their potential for success.
Governor Sanwo-Olu emphasized, “Lagos State Employment Trust Fund has made significant contributions in supporting local enterprises and startups, but we must double our efforts to address the high demand and unemployment rates. Skill development is crucial, given our large youth population. We have the capacity and resources to nurture these talented young individuals, equipping them with the necessary skills to thrive in today’s modern economy. Charities and NGOs play a vital role in providing support and interventions within the job ecosystem.”
The Governor also highlighted the recently launched Lateef Jakande Leadership Academy (LJLA), designed to equip the youth with knowledge and industry-specific expertise, empowering them to create wealth and become future leaders. Acknowledging the transformative power of technology in the modern economy, Governor Sanwo-Olu commended the charity for integrating technology into its intervention programs in Nigeria.
Mr. Will Straw, the CEO of Prince’s Trust International, revealed that the charity had been collaborating with LSETF for the past 20 months and expressed a desire to deepen their partnership. He shared the charity’s ambition to support thousands of young Nigerians and others across Africa. Mr. Straw explained that Prince’s Trust was established in 1976 by Prince Charles (now King Charles III) as the largest youth charity in the UK, focused on supporting talented but vulnerable young individuals in developing their skills. Following its international expansion, the charity’s interventions were extended to Commonwealth nations, including Nigeria.
Among the charity projects in Nigeria, one is the “Get Into” program, which prepares young people with essential skills such as teamwork, problem-solving, responsibility, and communication. After completing the program, 96% of the participants successfully secured employment. The second initiative called the Enterprise Challenge, is a school-based program that instills entrepreneurial spirit in teenagers.
Mr. Atedo Peterside, a member of the charity’s Africa Advisory Board and the founder of Stanbic IBTC Bank Plc, expressed his support for Prince’s Trust International’s decision to commence its initiatives in Lagos, emphasizing the significant economic impact that could be achieved through these programs.
Governor Sanwo-Olu concluded by affirming the State Government’s commitment to actively participate and provide funding support to enable more young people to benefit from these employment initiatives. He pledged to collaborate with Prince’s Trust International to raise awareness of their programs and explore opportunities to expand their reach in partnership with his office. The Governor recognized the potential of such collaborations to transform the lives of young individuals and drive economic growth in the state and beyond.
