AFDB’s $300m loan to help Nigeria tackle youth unemployment
Ajose Sehindemi is Businessamlive Reporter.
You can contact him on ajose.sehindemi@businessamlive.com with stories and commentary.
Boss Mustapha, Nigeria’s secretary to the government of the federation has disclosed that the African Development Bank (AFDB) has approved a $300m loan as a contribution to job creation, food security and nutrition, rural income generation and improved livelihood for youths in both the urban and rural areas of the country.
Mustapha said the government was committed to addressing the rising youth unemployment in the country through innovative ways as he constituted an Inter-ministerial task team to address youth unemployment challenges in the country.
He said this at a round-table on tackling youth unemployment in Nigeria, organised by the Bureau of Public Service Reform (BPSR) in collaboration with the Department for International Development (DFID), on Thursday,in Abuja.
The SGF said the government’s commitment to ending youth unemployment caused the Bank of Industry to launched a N10 billion Youth Entrepreneurship Support program to empower youths with loans to start businesses, as it was aimed at equipping young aspiring entrepreneurs with the right skills and knowledge to be self-employed by starting and managing their own businesses.
“The Federal Government has accorded agriculture priority in order to create job opportunities for the youth and we owe the youth in Nigeria today and tomorrow to work with determination and to do everything possible to win this battle.
“And I am confident that with the commitment and strong resolve, we will have the results we are striving in the not too distant future,” he added.
He said members of the team would be drawn from the Office of the Head of Service, the ministry of labour, the ministry of finance, Central Bank of Nigeria, Nigerian Economic Summit Group and the National Directorate of Employment.
Dave Arabi, the acting director-general, BPSR, said the agency had developed a policy note on how to effectively address the issue of unemployment in Nigeria.
He said the roundtable would provide a veritable platform for all stakeholders to come up with the needed solutions to address the unemployment situation.