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FG Inaugurates Technical Committee On Establishment of National Youth Bank
Joel Ajayi
In a determined effort to empower young people, cultivate their potential, and support their ambitions in ways that will create lasting change, the Federal Government has inaugurated a technical committee to establish the national youth bank.
While addressing the committee members at a brief inauguration ceremony held in his office, the Honourable Minister, Federal Ministry of Youth Development, Comrade Ayodele Olawande, said the committee members’ job is to guide the establishment of the Youth Bank in every critical aspect: its governance structure to operational model, from the types of financial services it will offer to how it engages with young people.
The Minister tasked the committee to establish a strong foundation in order to ensure that the Youth Bank becomes a vibrant and sustainable institution, adding that the committee is responsible for designing a comprehensive strategy for the bank, as well as developing operational and governance frameworks that will guarantee transparency, accountability, and long-term success.
He emphasized that the committee will focus on identifying and building partnerships with financial institutions and other stakeholders to ensure that the Youth Bank has the resources and support needed to expand and achieve its goals and also committed to creating an inclusive environment where youth from diverse backgrounds can access the opportunities, regardless of their socioeconomic status, gender, or geographic location.
“The vision for the Youth Bank is to deliver on the Presidential Mandate delegated to the Ministry of Youth Development to create a dynamic platform where young people can access the financial support, resources, and mentorship necessary to translate their ideas into action.
“The Youth Bank is an institution designed to provide young people with not just the financial capital but also the necessary capacity-building, guidance, and opportunities they need to thrive. The Bank will serve as a platform that empowers youth to become the leaders, innovators, and entrepreneurs of both today and tomorrow,” the Minister stated.
Olawande expressed appreciation to the Development Bank of Nigeria for agreeing to co-chair the event, as well as to the Central Bank of Nigeria, the Bank of Industry, the Ministry of Finance, and the Nigerian Sovereign Investment Authority. He also commended the management staff of the Ministry for their commitment and dedication to supporting the youth and affirming the nation’s belief in their capabilities.
In his welcome address, the Permanent Secretary of the Ministry of Youth Development, Mr. Olubunmi Olusanya, spoke extensively on the committee’s importance. He observed that despite Nigerian youth’s remarkable potential, many young people lack the resources, networks, and financial support needed to fully realize their ambitions.
Mr. Boneventure Okhaimo, a representative from the Bank of Industry, expressed the readiness of the bank to work with the Ministry and other stakeholders to actualize the vision of President Bola Ahmed Tinubu’s administration, while outlining the significance of the committee and its relevance to the success of the Youth Bank.
In his own contribution, Mr. John S. Onoja, representative of the Central Bank of Nigeria (CBN), affirmed the commitment of the apex bank to ensure speedy registration and licensing of the Youth Bank as soon as all necessary criteria are met
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Ministry of Youth Working with Relevant MDA’s to Curb Irregular Migration in Nigeria-Minister
Joel Ajayi
President Bola Ahmed Tinubu led Administration through the Federal Ministry of Youth Development is working tirelessly, collaborating with relevant MDAs to curb irregular migration in Nigeria.
The Honourable Minister, Federal Ministry of Youth Development, Comrade Ayodele Olawande disclosed this during a 2-day Awareness Programme on “The Effects of Irregular Migration of Young people”, organised by the Ministry in Katsina, Kastina State.
The Minister explained that the Ministry has designed various empowerment programmes like the vocational trainings in garment and clothing making, beads making, waste management (waste to wealth creation), digital employability, entrepreneurship and leadership training (DEEL), work experience program (WEP) and the proposed establishment of Youth House across the 774 local government secretariat nationwide.
According to him, “In recent years, we have recorded numerous needless and avoidable deaths of irregular migrants attempting to cross the Mediterranean Sea to reach Europe. Additionally, we have witnessed countless incidents of organ harvesting, rape, child labor, kidnapping, and prostitution inflicted upon illegal migrants in desert regions,
“Unfortunately, Africa and the Middle East have reported the highest numbers of illegal migrants trying to leave their continent or country for Europe and America.
He stated that other measures include the relaunch of the National Youth Investment Fund, which aims at supporting young entrepreneurs with a budget of ₦110 billion, adding that the initiative will focus on training in agriculture, providing tools such as drones to facilitate farming, and offering start-up grants to trainees.
“Additionally, there will be the construction of youth development centers nationwide to host various youth empowerment activities and programmes as well as the implementation of a 30 percent affirmative action to encourage youth participation in government”, he affirmed.
Comrade Olawande, who was represented by Deputy Director, Youth Centres & Camp (YCC) Division at the Department of Education and Youth Development in the Ministry, Mrs. Grace Leleh, noted that factors like conflict and civil unrest, unemployment as a result of worsening economic situation, famine, national disaster among others contribute to the growing trend of irregular migration among youth.
The Permanent Secretary of the Federal Ministry of Youth Development, Mr. Olubunmi Olusanya, stressed that migration is a natural aspect of human behavior. However, he added,the recent trend of irregular migration is a new phenomenon marked by complexities, uncertainties, dangers, and, in some cases, untimely death.
He said: “It is also perplexing to observe that many of the young people engaging in irregular migration are educated and skilled professionals in various fields.” He concluded by highlighting that this situation has led to the troubling phenomenon of brain drain in our country”
In his goodwill message, Jean Nahesi Kutumbakana, Program Manager & Head of Sub-office, International office for Migration in Northwest region, said that there are various significant problems emerging due to the socio-economic vulnerabilities and security challenges that often drive irregular migration. He added that the northwest is a critical region for both internal and cross-border migration flows.
“We at IOM strongly support the principle of partnership and collective actions for a comprehensive approach towards addressing the root causes of irregular migration”, he stated.
The Katsina State Commissioner for Youth and Sports Development, Hon. Aliu Lawal Zakari emphasised that Katsina State government is leaving no stone unturned to curb irregular migration as it shared boundaries with other countries.
He advised the youth to cooperate with the government at all levels to make this country conducive for them to get their livelihood.
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