The Nigerian government distributed $1.2 million in grants to 160 youth entrepreneurs across the country, highlighting its commitment to empowering young people to uplift the economy.
Youth Development Minister Jamila Ibrahim announced the Nigeria Youth Futures Fund support at an event in Abuja. She noted this year's sum represented a doubling of last year’s $600,000 disbursement to 130 grantees.
Ibrahim referenced President Bola Tinubu's consistent messaging on Nigerian youth's economic importance. The expansion in grants signifies more than just numbers, she said, but a bridge between young people's aspirations and supportive policies to achieve them.
The minister added the funding helps catalyze youth-driven change, encouraging them to actively shape an envisioned future for Nigeria. She reiterated it also fills a gap between ambitions and resources to make entrepreneurial dreams reality.
As Nigeria confronts development hurdles like high unemployment, empowering young innovators tackles multiple challenges. But realizing the demographic dividend from an entrepreneurial spirit requires breaking down barriers to capital. The grants suggest priorities aligning around youth inclusion for national renewal.