Federal Government and Wema Bank Partner to Empower Youth
The Federal Government of Nigeria has joined forces with Wema Bank in an ambitious initiative aimed at empowering at least one million youths across seven states in the country.
Nigeria’s Vice-President, Kashim Shettima, made this announcement in a statement released over the weekend by the director of information in the office of the vice-president, Olusola Abiola.
Establishing Digital Hubs for Youth Entrepreneurs
The initiative focuses on the establishment of micro, small, and medium enterprise (MSME) digital hubs in seven states.
This move aligns with President Bola Tinubu’s administration’s commitment to creating digital jobs and opportunities for the country’s youth.
Following a meeting between the Vice President and representatives of Wema Bank, an agreement was reached to implement the initiative.
FGN/ALAT Digital and SkillNnovation Hubs
The initiative will give rise to the establishment of FGN/ALAT Digital and SkillNnovation Hubs, beginning in Lagos and Borno States.
Subsequently, hubs will be set up in Katsina, Cross River, Anambra, Oyo, and Kano.
The program will be run in collaboration with Wema Bank, a leading financial institution in Nigeria.
Empowering Young Entrepreneurs and Tech-Savvy Youth
The strategic objectives of the initiative encompass empowering young entrepreneurs by providing them with tailored financial products, training, and support to establish sustainable businesses that contribute to Nigeria’s economic growth.
Additionally, the program aims to support tech-savvy youths who have a keen interest in digital innovations and aspire to drive technological advancements.
Such individuals will receive financial solutions, training, and access to strategic partnerships.
Incorporating Young Employees into the Workforce
Another crucial aspect of the initiative is empowering young employees, particularly those deployed through the National Youth Service Corps (NYSC), to become integral contributors to Nigeria’s workforce.
Training and Mentoring for a Brighter Future
Under the scheme, one million young adults will receive training in various digital fields such as software engineering, product management, business analysis, cloud computing, and product design.
This specialized curriculum will be designed for the FGN/ALAT Digital and SkillNnovation Hub.
In addition to training, 500,000 SMEs across Nigeria will benefit from mentorship by experts and coaches, who will help them develop and upskill for business growth.
Grants for SMEs and Techpreneurs
To further bolster the initiative, the federal government and Wema Bank have earmarked N500 million for grants to be provided to SMEs and techpreneurs in a collaborative arrangement.
This financial support will play a significant role in fostering entrepreneurship, skills development, and the integration of young employees into the digital economy.
A Centralized Platform for Skills and Networking
The FGN/ALAT Digital and SkillNnovation Hub will serve as a centralized platform to provide cutting-edge digital skills, mentorship, and networking opportunities.
It targets tech-savvy youths and young entrepreneurs, positioning itself as a vital resource in Nigeria’s journey towards a digital and economically thriving future.
As the program unfolds, it holds the potential to transform the lives of countless young Nigerians, providing them with the tools and opportunities they need to thrive in the digital economy and contribute meaningfully to the country’s progress.
The collaboration between the federal government and Wema Bank signals a united effort towards empowering the youth and fostering a thriving entrepreneurial ecosystem.
