The federal government has decided to partner with the Mastercard Foundation Fund, a non-governmental organisation (NGO), to create job opportunities for Nigerian youths.
Jamila Bio-Ibrahim, minister of youth development, spoke on Tuesday when she received Abraham Ndambuki, grants, finance, and risk management officer of the foundation, during a courtesy visit in Abuja.
Bio-Ibrahim said internally displaced persons (IDPs) and persons with disabilities (PWDs), including men and women will benefit from the partnership programme.
She said participants will be selected in groups, adding that the government will prioritise agriculture, climate adaptation, and digital economy in the programme.
She also listed the blue economy, mining, and renewable energy as some of the areas where youths will be empowered in small and medium enterprises (SMEs).
The minister said the funds from the partnership will be utilised to unlock enterprise growth and ensure sustainable businesses for Nigerians.
“We are also in the process of designing a framework for a youth development bank, while the youth investment fund is being reviewed,” NAN quoted Bio-Ibrahim as saying
“We want to improve and expand on this programme. We will operationalise the fund.
“We are open to ideas on how we can work together and collaborate on those government priority sectors.”
On his part, Abraham Ndambuki, representative of the Mastercard Foundation, said the programme will last for seven years, adding that 20 African countries, including Nigeria, are beneficiaries.
“We have engaged 35 different stakeholders, including government officials and the private sector, as the programme is in its second phase. The first phase was completed last year, and it lasted for 10 years,” Ndambuki said.
“It was valued at 50 million dollars, and we succeeded in disbursing the entire 50 million dollars across eight countries.
“The foundation has come with a second phase and increased the amount to 126 million dollars, equivalent to approximately N194 billion at today’s rate.
“It will last for the next seven years, so we are now in the first year, which is the preliminary stage, and that is why we are performing the visibility market research to identify and understand the Nigerian markets.”
(The Cable)