The Nigerian Federal Government has unveiled the Renewed Hope Youth Strategic Blueprint to various donor agencies, aiming to unlock the potential of Nigeria’s youth, a vital component for driving the nation’s economic growth.
During the donor engagement, the Minister of Youth Development, Comrade Ayodele Olawande, stressed that with over 130 million young people making up more than 70% of Nigeria’s population, the country has a unique advantage for socio-economic transformation.
However, he acknowledged that such a large youth population presents both opportunities and challenges.
Olawande highlighted the progress made in reducing youth unemployment, with the rate dropping from 12.55% in 2020 to 5.84% in 2023, although it saw a slight increase to 6.5% in mid-2024. He urged donors to continue supporting innovative programs that create opportunities and equip young people with the skills necessary to succeed.
The Minister also called for strategic reforms in government institutions such as the Federal and State Ministries of Youth and the NYSC, to better meet the needs of today’s job market.
Mr. Osubor Gregory of the African Development Bank emphasised the bank’s commitment to youth development and the launch of programmes aimed at empowering young people.
Similarly, Ibrahim Suraju of the Islamic Bank expressed the bank’s dedication to supporting initiatives that improve skill development, foster entrepreneurship, and promote innovation, recognising these as key drivers of sustainable economic growth.
Both organisations highlighted their continued collaboration with Nigeria to ensure a brighter future for its youth.
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