The Federal Government has launched the Renewed Hope Youth Strategic Blueprint to harness the vast potential of Nigeria’s youth for economic development.
The initiative was introduced at a donor engagement meeting aimed at fostering collaboration and attracting strategic investments for youth empowerment.
At the event in Abuja over the weekend, Minister of Youth Development, Comrade Ayodele Olawande, emphasized that Nigeria’s youth, making up over 70% of the population, are central to the country’s socio-economic transformation.
He highlighted Nigeria’s advantage of having over 130 million young people, stating that they could be a powerful force for progress if properly supported with innovation and investment.
Olawande addressed the challenge of youth unemployment, noting the government’s progress in reducing the rate from 12.55% in 2020 to 5.84% in 2023. However, he acknowledged a slight increase to 6.5% in Q2 2024, stressing the need for sustained efforts to maintain positive momentum.
The Minister urged continued donor support, calling for investments and innovative programs to equip young people with the skills needed to succeed in today’s job market. He also emphasized the need to reshape youth mindsets, especially in the digital era.
Olawande highlighted opportunities for institutional reforms, particularly within the Ministries of Youth, the National Youth Service Corps (NYSC), and the Citizenship and Leadership Training Centre, which could drive youth development policies.
Representatives from major donor agencies, including the African Development Bank and the Islamic Bank, reaffirmed their commitment to youth empowerment.
Dr. Osubor Gregory of the African Development Bank stressed that every project would directly benefit young people, while Ibrahim Suraju of the Islamic Bank emphasized the importance of skill development, entrepreneurship, and innovation as key drivers of sustainable economic growth.
The event underscored the need for ongoing collaboration between the government, donors, and stakeholders to ensure that Nigeria’s youth play a transformative role in shaping the country’s future as its population grows toward 350 million by 2050.
Source: Swifteradio.com
