The Technical Committee of the National Youth Development Bank (NYDB) met with the Honourable Minister of Youth Development, Comrade Ayodele Olawande, to present a groundbreaking proposal aimed at tackling the funding and inclusion challenges faced by young Nigerians. The proposal seeks to empower the youth and enhance their opportunities for development.
During the high-level presentation in Abuja, the Co-Chairman of the Committee, Mr. Bonaventure Okhaimo, outlined strategic initiatives designed to provide financial support, skill development, and innovative funding solutions tailored to the needs of young people. He added that the proposal seeks to bridge the gap between youth-driven enterprises and sustainable financial resources, fostering long-term economic impact.
Mr. Okhaimo explained that, with Nigeria’s rapidly growing youth population, the country is at a critical juncture where economic empowerment and financial inclusion are essential to unlocking the full
potential of its young citizens.
“The Bank’s mandate is based on the recognition that access to finance is one of the most significant barriers preventing Nigerian youth from actively participating in business, innovation, and wealth creation,” he said.
He further emphasized that the NYDB will adopt a diverse funding approach, with the Bank being majority-owned by the Federal Government. The NYDB structure will also accommodate additional funding from various sources in subsequent years, including government allocations, development finance institutions, private sector contributions, and innovative financing mechanisms such as youth intervention funds, concessional loans, and blended finance models.
In his response, the Honourable Minister, Comrade Ayodele Olawande commended the committee’s efforts and reiterated President Bola Ahmed Tinubu’s commitment to supporting initiatives that empower young Nigerians. He emphasized the importance of financial empowerment in reducing unemployment and promoting innovation across various sectors.
Comrade Olawande expressed optimism about the next steps in realizing the proposed initiatives and collaborations, which he said are expected to effectively refine and implement the proposal.
Signed,
Omolara Esan
Director (Information and PR)
