Dr. Jamila Ibrahim, the Minister of Youths, revealed to State House correspondents after the Federal Executive Council (FEC) meeting in Abuja on Monday, that the government has allocated a specific quota for youths to encourage their active involvement in decision-making and civic activities.
Furthermore, she announced that the FEC has approved the restructuring and revitalization of the Nigerian Youth Investment Fund. This initiative aims to support young entrepreneurs and provide much-needed assistance to the youth across the country.
Ibrahim emphasized that the distribution of the fund will begin in collaboration with relevant agencies, including those focusing on agriculture and food security, the creative economy, and state governments. This move is expected to significantly enhance young people’s contribution to the national development agenda.
Additionally, she highlighted the second council approval to restructure and institutionalize the Nigerian Youth Investment Fund. Originally approved in 2020, the fund underwent a thorough review by a technical committee to restructure it and establish a legal framework, leading to the creation of the Nigerian Youth Fund.
The minister also announced that the council has approved the immediate release of N25 billion from the 2023 supplementary Appropriation Act and an additional N25 billion from the 2024 Appropriation Act for the Youth Development Fund. Additionally, there was approval for a N60 billion release from the Central Bank of Nigeria through agricultural investments for small and medium enterprises.