The federal government is set to launch a new initiative, the Presidential Initiative for Youth Enterprise Cluster, with a budget of N110 billion aimed at promoting youth entrepreneurship.
Vice President Kashim Shettima announced this initiative at the 2024 World Population Day event, held at the Presidential Villa in Abuja by the National Population Commission (NPC) on Thursday.
This initiative will work alongside the existing N110 billion Youth Investment Fund and includes the creation of a Youth Data Bank and a National Youth Development Bank.
World Population Day, observed on July 11 each year, raises awareness of population issues and recognizes global efforts to address them.
This year’s theme, “Embracing the Power of Inclusive Data Towards a Resilient and Equitable Future for All,” highlights the importance of inclusive data in building a sustainable and fair future.
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Vice President Shettima noted, “We have met the 30 per cent quota for youth inclusion in governance across all tiers of government.
The president has approved N110 billion for the Youth Investment Fund, and we are establishing the National Youth Development Bank and the Presidential Initiative for Youth Enterprise Cluster worth N110 billion. Additionally, we are setting up a Youth Data Bank.”
Shettima emphasized the need for inclusive data to help governments at all levels align policy actions and investments with the needs of citizens.
Key areas of focus include providing decent jobs, ensuring equitable access to quality healthcare, and delivering quality education for all.
As chairman of the National Economic Council (NEC), Shettima pledged to use his platform to keep people and communities at the forefront of development efforts.
He stated, “Aligning investment choices with people’s needs will transform population numbers into valuable assets, driving rapid economic growth.”
