These include restructuring of the Nigerian Youth Investment Fund (NYIF) with additional provision for it and institutionalization of a 2% youth quota in all government appointments and women representation of 30%.
Addressing journalists after this week's FEC meeting, Minister of Youth and Sports Development Dr Jemila Ibrahim-Bio said;
“I’m delighted to brief the gentleman and women of the press that we have received Council’s approval to institutionalise a 2% youth quota, a third percent representation of young people in all government appointments and an equitable young women representation inclusive of this 30%.
"This will go a long way in addressing the long marginalization and exclusion of young people in decision making, and will also go a long way to encourage young people to participate in decision-making processes and in civic engagements.”
Jemila also revealed that the revamped Youth Investment Fund will receive an immediate infusion of ₦25 billion from the 2023 Supplementary Appropriation Act, complemented by an additional ₦25 billion from the 2024 Appropriation Act’s Digital Development Fund.
The minister added;
“Secondly, the Nigerian Youth Investment Fund, initially established in 2020, has been restructured and institutionalized through a legal framework.
“The fund, initially set at ₦75 billion, will now receive ₦25 billion from the 2023 Supplementary Appropriation Act and an additional ₦25 billion from the 2024 Appropriation Act. Additionally, ₦60 billion will be released from the Central Bank of Nigeria’s SME Investment Fund, focusing on agricultural investments.
“These measures aim to support young businesses and stimulate economic growth”.
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