Vice President Kashim Shettima has announced the Federal Government’s intention to establish a Presidential Initiative on Youth Enterprise Clusters, with a budget allocation of N110 billion. This announcement was made during the 2024 World Population Day event held at the Banquet Hall of the State House in Abuja.
The Presidential Initiative on Youth Enterprise Clusters is designed to engage young people and women actively in governance and economic activities. This initiative is separate from the previously approved Youth Investment Fund, which has a budget of N100 billion.
Vice President Shettima highlighted President Bola Tinubu’s dedication to ensuring the active involvement of young people and women in the governance and development of the country. The initiative is aimed at fostering entrepreneurship and providing opportunities for youth engagement.
At the event, Vice President Shettima underscored the critical importance of data in population planning and development, noting that accurate data is essential for effective policy-making and resource allocation.
Minister of Youth Development, Jemila Ibrahim, reiterated the Federal Government’s plan to establish a national youth development bank. This bank aims to increase access to capital for young Nigerians and support their entrepreneurial ventures.
Minister Ibrahim emphasized that the new initiative would promote entrepreneurship among the youth. She stressed that the ministry’s role is to create an enabling environment and provide opportunities for young people to thrive and prosper.
The Federal Government’s launch of the Presidential Initiative on Youth Enterprise Clusters represents a significant investment in the future of Nigeria’s youth. With a budget of N110 billion, this initiative seeks to empower young entrepreneurs, facilitate their active participation in governance, and promote economic growth.
