The National Association of Nigeria Colleges of Education Students (NANCES) has called on President Bola Ahmed Tinubu to increase intervention funds for empowering Nigerian youths and students who are grappling with joblessness amid rising economic challenges. This appeal comes in the wake of the recent fuel price hike, which has led to a surge in food prices and heightened economic hardships across the country.
NANCES President, Egunjobi Samuel Oluwaseun, emphasized in a statement released in Abuja that the 12.5 million students across 219 Colleges of Education in Nigeria recognize and appreciate President Tinubu’s efforts to alleviate poverty. Oluwaseun urged the government to build on these initiatives by providing more financial support in the form of loans or grants to help youths sustain and expand their businesses, thereby curbing restiveness and dangerous vices.
“Releasing more intervention funds will enhance the foundations laid by the previous administration through the NIRSAL Microfinance Bank (NMFB),” Oluwaseun said. He praised the NMFB, under the leadership of Abdullahi Abubakar Kure, for its transparent and accountable distribution of funds across Nigeria’s six geopolitical zones.
The NANCES President highlighted how the NMFB’s interventions allowed youths to access loans without needing insider connections, enabling them to start or grow businesses such as selling recharge cards, opening barbing salons, and other small ventures. These businesses have provided students with much-needed income to pay school fees, settle bills, and manage other financial responsibilities.
Despite the initial hopes of many beneficiaries that the funds would be provided as grants, Oluwaseun acknowledged that the loans have been instrumental in stabilizing and sustaining small businesses across the nation.
He concluded by urging President Tinubu’s administration to further empower Nigerian youths by expanding intervention funds, particularly in the MSME and agriculture sectors. This, according to Oluwaseun, would offer young Nigerians meaningful opportunities for livelihood and contribute to the broader economic stability of the country.
This appeal aligns with Tinubu’s “Renewed Hope Agenda,” which aims to provide practical solutions to Nigeria’s ongoing economic challenges and create sustainable opportunities for the nation’s youth.
