Federal Government has unveiled the Renewed Hope Youth Strategic Blueprint to different donor agencies in order to harness and unlock the vast potential of Nigeria’s youth, who represent a significant driver of economic growth.
While speaking during the donor engagement meeting, the Honourable Minister, Federal Ministry of Youth Development, Comrade Ayodele Olawande emphasized that Nigeria’s youth are the backbone of the nation and hold the key to realizing its full potential.
“With over 70% of our population—more than 130 million—within the youth age group, we have a significant advantage for socio-economic transformation.
”“However, we also recognize that this large youth population can present both great opportunities and challenges. That is why engagements like this are very important.
With your support, through strategic investments, innovation, and collaboration, I am confident we can overcome any obstacle,” he said.Highlighting the pressing issue of youth unemployment, which he noted remains a formidable challenge in our society, Ayodele underscored the significant progress made by the current administration in tackling this problem.
He pointed out that : “the youth unemployment rate has dramatically decreased from a concerning 12.55% in 2020 to a remarkable 5.84% in 2023, showcasing the effectiveness of targeted policies and initiatives designed to empower young people.”
The Minister observed that despite significant progress, the youth unemployment rate rose slightly to 6.5% in the second quarter of 2024. He urged donors to recognize both the tremendous strides that have been made and the importance of maintaining the momentum in collaborative efforts and investments as innovative programs are essential to opening doors for young people, ensuring they acquire the skills and opportunities needed to succeed in today’s competitive job market.
He emphasized the significant opportunity to strategically position government institutions, including the Federal and State Ministries of Youth, the NYSC, and the Citizenship and Leadership Training Centre (CLTC).
Through organizational reforms and capacity building, he added, these institutions can become key platforms for driving policies and youth development plans that meet the demands of the 21st century. Olawande also urged donors to collaborate and take a focused approach to reshape the behaviors and mindsets of young people, especially in this era of social media and digital technology.
The Minister noted that with the population projected to reach 350 million by 2050, there is a crucial opportunity for youth to either become the world’s valuable human resource or conversely, a burden to the society.
Dr. Osubor Gregory, representative of the African Development Bank (AFDB), stressed the organization’s strong commitment to youth development. He highlighted that his Agency is actively launching several innovative programs aimed at empowering young people, adding that the dedication is not just an initiative; it is a fundamental principle of the organization.
“The African Development Bank is determined to ensure that every project directly benefits youth, fostering their growth and potential for a brighter future”, he concluded.
The representative of the Islamic Bank, Ibrahim Suraju recognized the Ministry’s ongoing commitment to empowering youth and advancing sustainable development in Nigeria.
He said that the Islamic Bank is dedicated to supporting initiatives and programs that improve skill development, promote capacity building, nurture entrepreneurship, and stimulate innovation.
“These elements are not just important, they are essential catalysts for driving sustainable economic growth. Together, they can pave the way for a brighter future,” Suraju stated.
SignedOmolara Esan CM, NIPRDirector (Information and Public Relations)Federal Ministry of Youth Development.
