Unemployment: FG Earmarks N250bn For Youth Development

In an effort to tackle the spate of unemployment in the country, the federal government has revealed plans to set aside N250 billion in the 2016 budget for youth empowerment. TodayNG reports

Speaking at a conference held recently, the Minister of Youth and Sports, Solomon Selcap Dalung, s quoting a report by GenerationNext of 2010, “youth not oil will be Nigeria’s greatest resource by 2030”, said government must put adequate measures in place to ensure the prediction is achieved.

Besides, Dalung who was represented by John Pofi said government must invest in youth developments by encouraging young entrepreneurs to be resourceful to the economy.

According to him, “the youth empowerment conference 2016; with the theme ‘the future of work and economic freedom is apt and relevant” coming at the approximate time in which government is looking for alternative ways to empower the youth. This has become necessary in view of diminishing resources and increased competition by national priorities.”

Dalung said government is taking steps to ensure the environment becomes stable for investment that will help propel youth empowerment and growth.

“There is also the N220 billion Central Bank of Nigeria intervention fund for SMEs. While this may not be exclusively for youth, my ministry is discussing with the Central Bank on ways through which youth SMEs can benefit from the fund”.

Dalung further stated that government is discussing with private investors on ways to support youth initiatives that have potential for job creation and employment generation.

Accordingly, “we are finalizing discussions with some investors who have indicated interest to train 10,000 Nigerian youths using our the development centres and deploy them into their production factories across the nation.”