Nigeria’s micro, small, and medium enterprises (MSMEs) are set for a major boost as the United Nations, World Bank, and Federal Government unveil fresh initiatives targeting women and youth in key growth sectors.
At the Afro-EU Garment Innovations and Sustainability Summit in Lagos, UN Women Representative to Nigeria and ECOWAS, Beatrice Eyong, urged Nigerian women to seize opportunities in the nation’s $2.5 billion fashion industry, describing it as a pathway for enterprise development, export, and job creation.
Meanwhile, in Abuja, the World Bank and the Federal Government disclosed a $70 million investment plan for the second phase of the Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) project, designed to close Nigeria’s persistent skills gap.
World Bank Co-Task Team Leader Dr. Mistura Rufai explained that the program will train 30,000 Nigerian youths for six months in various technical and vocational skills, beginning August 25. This builds on the 1,000 beneficiaries from the pilot phase.
She added that beyond skills training, participants will receive National Skills Certification Framework recognition, ensuring employability and enterprise readiness.
National Project Coordinator Mrs. Blessing Ogwu stated that the IDEAS project is grounded in the Technical and Vocational Education and Training (TVET) framework, aiming to equip Nigerian youths with relevant skills to drive employment and MSME growth. Consultant Ndem Ndiyo further stressed that training providers are expected to focus on skills with strong commercial value.
With both the UN’s call for women in fashion and the World Bank’s support for youth skills development, the initiatives are aligning toward one goal: empowering MSMEs to scale and creating new opportunities for Nigeria’s young entrepreneurs.
