The Bola Tinubu-led administration has made a landmark decision by approving the institutionalization of a 10% youth quota in all government appointments and equitable representation for young women.
Dr. Jamila Ibrahim, Minister of Youths, made this announcement after the 4th FEC meeting held on Monday in Abuja.
Dr. Ibrahim emphasized that implementing the quota system would encourage young people to participate actively in national development initiatives, thereby contributing significantly to the country’s growth agenda.
In addition to the youth quota, the government also approved the restructuring and revitalization of the Nigerian Youth Investment Fund.
“This will in turn lead to young people’s contributing tremendously to the national development agenda.
“I’m also pleased to announce the second council approval to restructure and institutionalise the Nigerian Youth Investment Fund.
“This is a fund that was approved in 2020 and on assumption of Office of this administration, we commissioned a technical committee to review this fund and restructure it with the aim of institutionalising it through a legal framework, which will lead to the establishment of the Nigerian Youth Fund.
“We have secured council approval for the immediate release of N25 billion from the 2023 supplementary Appropriation Act and an additional N25 billion from the 2024 Appropriation Act under the Youth Development Fund for Development provision in the budget.
“We also received an additional approval from the council for a N60 billion release from the Central Bank of Nigeria through the agricultural investment of small and medium enterprises,” she said.
Ibrahim said that the schemes would support young businesses and provide much-needed succour to young people in the country.
She said that the commencement of the schemes would be done with collaboration from relevant agencies like agriculture and food security, creative economy and state governments among others.