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FG Re-Launches NYSP to Create Over 5 Million Job
Joel Ajayi
In a continuous effort to tackle unemployment affecting the fabric of Nigeria’s existence, the Federal government on Thursday re-launched the National Youth Skills Programme NYSP for sustainable growth innovations that will help build Nigeria’s future that will impact future generations.
NYSP is an initiative of the Federal Ministry of Youth Development that addresses the critical skills gap among Nigerian Youth.
Speaking at the launching of NYSP in Abuja, the Minister of Youth Development, Dr Jamila Bio-Ibrahim will launch the National Youth Skills Programme (NYSP) and stated that relaunching the initiative will turn things around for Nigerian Youth.
According to her, our nation is at a pivotal moment. The future of our youth, the heart of our progress, hangs in the balance.
“Let us imagine a Nigeria where every young person has the skills to pursue their dreams.
“This vision fuels the (NYSP). Today, we are taking a significant step towards turning this vision into reality. I am thrilled to introduce the National Youth Skills Program (NYSP), a daring initiative crafted to ignite the flame of potential in our youth and pave the way for a brighter future.
“This program is not just a new initiative but a bold and transformative strategy to tackle one of our nation’s most pressing issues—youth unemployment.
“Right now, over 42.5% of our young people, the lifeblood of our nation, remain unemployed. About 33 million young Nigerians wake up daily without a clear path. This is not just a statistic—it’s the story of potential untapped, dreams deferred, and futures put on hold. We cannot afford to let this continue, and that’s why the National Youth Skills Program is so crucial.
“The NYSP is designed to turn this around. We are targeting 11 key sectors that are vital to Nigeria’s development and can create millions of jobs. Sectors like agriculture, renewable energy, and the digital economy can potentially drive Nigeria’s future, and the NYSP is the key to unlocking this potential. With the right skills and training, our youth cannot only find employment but also become the driving force behind these sectors, creating a ripple effect of job opportunities.
“Through the Nigerian Youth Investment Fund (NYIF), we have already allocated ₦110 billion for the 2024 fiscal year to support youth-led businesses. With the upcoming National Youth Development Bank, we will expand this, providing more youth with the grants, loans, and mentorship they need to turn their ideas into thriving enterprises.
“What makes the NYSP truly special is our commitment to inclusivity. We ensure that this program reaches every corner of Nigeria—from the bustling cities of Lagos and Abuja to the most remote villages in Borno, Benue, and Bayelsa. No young person should feel that opportunity is beyond their reach.
We know that women and persons with disabilities are often left out of the economic conversation.
“That’s why we’ve committed to ensuring that 50% of program participants will be female, and we have designed specific pathways for young women to thrive in sectors like technology, healthcare, and entrepreneurship. We’ve also partnered with local and international organizations to ensure that persons with disabilities have full access to all training programs, with necessary accommodations provided. This isn’t just a program for a select few—this is a program for all young Nigerians, regardless of their gender, background, or abilities.
“We have learned valuable lessons from previous skills programs. For instance, past initiatives often focused solely on training without providing the necessary financial support, which meant many young people had the skills but lacked the capital to start their businesses. With the NYSP, we are bridging that gap. We’re not just offering skills training; we’re providing a holistic solution one that includes mentorship, financial backing, and industry partnerships.
“As we launch this initiative today, we are doing more than just kicking off another government program. We are laying the foundation for a future where every young Nigerian has the skills, opportunities, and support to achieve their dreams. This is about renewed hope. It’s about allowing our youth to build the life they want here in Nigeria without looking elsewhere.”
She sought the support of all the stakeholders to join hands with the ministry to help build Nigeria’s future and impact generations to come.
News
Tax Reforms, Will Bring Prospeeity-Presidency
Special Adviser to the President on Public Communication and Orientation, Chief Sunday Dare have explained that President Bola Tinubu is determined to promote prosperity by protecting the vulnerable, while eliminating unnecessary financial strain on citizens and ensuring a more efficient revenue collection process.
Dare, in an opinion piece, titled “Tinubu’s People-Centric Tax Reforms and Ndume’s Threat“asserted that President Tinubu meant well for Nigerians as he encouraged people to study the bills and to mobilise support for them to be passed by the National Assembly.
He wrote that “The President’s vision and clear mandate is evident in what the Fiscal policy and tax reforms Committee delivered as recommendations to the government, and became a part of the Economic Stabilisation Bills (ESB) approved by the Federal Executive Council in September, as part of the Accelerated Stability and Advancement Plan (ASAP) of the government.
According to him, “It was in furtherance to a realisation of these objectives that President Bola Tinubu sent a letter to the two chambers of the National Assembly, requesting for the approval of four tax reform bills, which are: “The Nigeria Revenue Service (Establishment) Bill”, “The Nigeria Tax Bill”, “The Nigeria Tax Administration Bill,” and “The Joint Revenue Board (Establishment) Bill.”
He said “These Bills seek to provide a consolidated fiscal framework for taxation in Nigeria, a clear and concise legal framework for the fair, consistent and efficient administration of all the tax laws to facilitate ease of tax compliance, reduce tax disputes and optimize revenue, among others.
Dare urged people to familarise themselves with “What is driving the reforms and the proposals that have been laid out, which include consolidating the different ‘nuisance taxes’ taxes and levies, which some have put at 62 official and 200 unofficial taxes into a streamlined system of 8 taxes to eliminate unnecessary financial strain on citizens while ensuring a more efficient revenue collection process.
“The committee is also pushing for a constitutional amendment to limit the total number of taxes on individuals and businesses to a single-digit. The objective, it says, to provide greater financial stability and predictability for taxpayers, fostering a more conducive business environment. Apart from that are the amendments to the withholding tax regulation, with businesses earning below 50 million Naira exempted from this tax, to provide relief for small companies and reduce the tax burden on emerging enterprises to engender growth of SMES, which play a central role in providing employment and the development of the econo
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