The federal government has disclosed plans to set up a youth bank to offer loans, grants, and other financial products to support young entrepreneurs.
The Minister of Youth Development, Mr Ayodele Olawande, during a media chat.
He said the ministry is planning a Nigerian Youth Employment Action Plan, which would address rising unemployment.
Olawande said, “Establishing a youth bank has numerous benefits for young people and communities.
“By supporting youth-led businesses, youth banks can contribute to employment generation and economic growth.
“We are saying that everybody should go on this dashboard to get information.
“We have discovered that there are more than 7,000 activities of youths in Ministries, Departments and Agencies (MDAs) and others that do not reside in Ministry of Youth.”
Olawande noted that education was the greatest weapon against poverty and combating insecurity in the country.
The minister said the country has more than 60 per cent of youth, adding that the growing population needs to be secured through interventions.
He added, “On November 19, the Federal Government lifted the ban restricting the posting of corps members to the public sector, allowing for corps members to be posted to private sector organisations, including banks and oil and gas companies.”