News

JUST IN: Tinubu’s Govt approves N110bn for youth empowerment nationwide to tackle poverty

Published

7 months ago

May 19, 2024

By Kayode Sanni-Arewa

The Federal Government has approved N110 billion to revitalise the National Youth Investment Fund (NYIF) for the empowerment of youths in the country

Minister of Youth Development, Dr. Jamila Bio – Ibrahim, disclosed this during the closing ceremony of the ministry’s two – day management retreat on presidential priorities and deliverables with the theme: ‘Achieving the Eight Presidential Priorities and Deliverables’ in Abuja on Friday.

Bio – Ibrahim stated that the funds, which have been approved under the 2024 fiscal year, would serve as a cornerstone for youth empowerment.

She said the fund is not just a financial reservoir but a catalyst for youth entrepreneurship and innovation aimed at bridging the gap between ambition and opportunity.

In a statement on Saturday in Abuja by the Director, Press and Public Relations of the ministry, Omolara Esan, the minister stated that President Bola Tinubu administration was committed to empowering every Nigerian youth through actionable policies and innovative programmes which align with the Renewed Hope Agenda.

The minister said: “We celebrate the rejuvenation of the National Youth Investment Fund, approved by the Federal Executive Council to restart with an allocation of N110 billion for the 2024 fiscal year. This fund will serve as a cornerstone for youth empowerment, bridging the gap between ambition and opportunity.

“The fund is not merely a financial reservoir but a catalyst for youth entrepreneurship and innovation. It represents our commitment to transforming the economic landscape by investing directly in the potential of our young people.

“The Federal Executive Council also approved: the integration of Skills and Entrepreneurship Development into the NYIF program; the immediate transition of the NYIF Committee into an interim coordinating unit for project management office, pending the drafting and passing of an executive bill for the Establishment and the Institutionalisation of the National Youth Fund by the National Assembly. Also approved by the FEC is the investment of N5 Billion in the soon to be established Youth Development Bank.”

The minister explained that the Retail Development Financial Institution will be dedicated to providing financial solutions tailored specifically for young entrepreneurs, youth-backed ventures, and youth-sector enterprises.

She added that with an initial capitalisation of N10 billion, the bank was poised to be a pillar of support for youth-led enterprises, offering not just loans and equity but development, guidance, mentorship, and a network of resources.

She said: “National Youth Development Bank (NEXTGEN BANK), a pioneering effort in partnership with the Bank of Industry, and their private sector partners, represents a ground-breaking stride towards economic independence for our youth. With an initial take-off shareholders fund of N10 billion, this institution will be instrumental in nurturing young entrepreneurs and innovators who are the bedrock of our nation’s future. The Retail Development Financial Institution will be dedicated to providing financial solutions tailored specifically for young entrepreneurs, youth backed ventures and youth sector enterprises. With an initial capitalisation of N10 billion, the bank is poised to be a pillar of support for youth-led enterprises, offering not just loans and equity but development, guidance, mentorship, and a network of resources.

“The Bank of Industry will be investing N2.5 billion and their private sector partners have committed to the balance of N2.5 billion investment and the bank will be private-sector managed.”

The minister said the government would soon commence the rehabilitation and transformation of youth development centres across the country.

“These centres will be transformed into hubs of technical, digital, and creative skills training; bastions of social, political, and cultural engagement, amongst our youths; and sanctuaries for mental health and combating the scourges of substance abuse and social decay. By investing in these centres, we are investing in safe spaces that foster the holistic development of the Nigerian youth,” she added.

She added: “These initiatives are just the beginning. The path we are charting today is comprehensive and designed to tackle the challenges faced by our youth head-on. But these plans cannot reach their full potential without your dedicated cooperation and active participation.

“We must enhance our synergy and focus our efforts on delivering the results every Nigerian youth deserves, which our Leader, His Excellency President Bola Ahmed Tinubu, demands of us.”

News

Just in; Chief of Staff to Kwara Gov is dead

Published

19 minutes ago

December 28, 2024

Naijablitznews

Prince AbdulKadir Mahe, the Chief of Staff to Kwara State Governor AbdulRahman AbdulRasaq, is dead.

He passed away on Saturday morning, December 28, 2024.

He will be buried today at his home on Moro Street, Adewole Estate, Ilorin, after the Asr prayer.

The governor and others have sent their sympathies to his family and loved ones.

The Chief Press Secretary to the Governor, Rafiu Ajakaye confirmed the development also confirmed in a statement.

The statement said: “In total submission to the will of Allaah, we regret to announce the passing of the Chief of Staff to His Excellency, Prince AbdulKadir Mahe.

“He died this morning, December 28, 2024, as has been destined by Allaah.

“The late CoS will be buried today at his residence on Moro Street, Adewole Estate, Ilorin, after the Asr prayer.

His Excellency deeply mourns the death of Prince AbdulKadir Mahe, a perfect gentleman, community leader, urbane public servant, and a statesman.

“The governor commiserates with the Emir of Ilorin, Alh. Ibrahim Sulu-Gambari, the immediate family of Prince AbdulKadir; government establishments; and cabinet members.

“We ask for the understanding of everyone at this mournful period as the government and family mourn the quintessential public servant.

“We pray that Allaah accept his return, ease his accounts, admit him to al-jannah Firdaus, and uphold his family upon goodness

News

BLACKOUT as TCN Announces Power Outage In Abuja

Published

3 hours ago

December 28, 2024

Naijablitznews

The Transmission Company of Nigeria (TCN) has announced planned power outages in certain areas this weekend to allow for maintenance work on its transmission equipment.

According to a statement by the General Manager of Public Affairs, Mrs. Ndidi Mbah, the exercise is aimed at ensuring better service delivery.

On Saturday, December 28, 2024, from 9:00 a.m. to 1:00 p.m., Gwagwalada and nearby communities will experience a temporary power outage. This is to allow engineers to perform maintenance on a 60MVA transformer and related switchgear at the Gwagwalada Transmission Substation.

Similarly, on Sunday, December 29, 2024, power will be interrupted in several areas, including Wuye, EFCC, Federal Medical Centre, Coca-Cola, Idu Railway Station, Citec, and Life Camp. The outage will occur from 9:00 a.m. to 1:00 p.m. as engineers carry out work on another 60MVA transformer at the Kukwaba Transmission Substation.

In the statement, TCN apologized for the inconvenience caused by the outages and sought the understanding of affected customers. It emphasized the importance of the maintenance work to ensure the power equipment functions optimally. “TCN apologizes for the inconvenience this may cause, especially during the end-of-year season. However, it is important that maintenance is carried out as scheduled for optimal performance of power equipment,” the statement read.

News

BREAKING! Confusion trails free train ride, hundreds of passengers stranded(PHOTOS)

Published

3 hours ago

December 28, 2024

Naijablitznews

* As train is delayed, NRC officials demand tickets

By Emmanuel Agaji

The much publicised tree train ride for passengers travelling to different destinations along the Itakpe/ Warri route may be a hoax as officials of the Nigeria Railway Corporation (NRC) at Itakpe, Kogi State, demand e-tickets and other evidence of payment for the trip.

Naojablitznews observed that upon arrival at the train station, travellers are accosted by the train operators to show their tickets to confirm their booking for the ride.

When a passenger shows his ticket, he is allowed to move into the Departure Lounge while those who had arrived on the assumption that the train ride was free are shoved aside , told to write down their names on a sheet of paper and stay under a canopy until those who paid for the trip have been allocated seats on the train.

The Federal Government had, a few days ago announced that Nigerians will enjoy free train rides during the Christmas and New Year celebrations.

The government also announced that transportation by road would be subsidised up to fifty per cent. However, these promises appear to have been mere propaganda.

The situation has left many travellers confused and stranded especially as
the train which ought to take off from Itakpe at t 2 pm on Saturday has not shown up at the station as at 3.16 pm.

Hundreds of passengers are currently stranded and waiting under the scorching heat of the sun as officials continue their discriminatory admission of passengers into the Departure Lounge.

There are fears that the train may not hit the station until about 4 pm and many passengers may not have space on it because of the perceived underhand dealings by the train officials.

While the officials of the Itakpe Train Station continue to plead for understanding over the delay of the train, their emphasis has been on how to cater for those who booked online for the trip and very little or no emphasis is made to reassure those who came for the free ride announced by the Federal Government that they were at the right place.