The Federal Government is investing $220 million (approximately ₦332bn at 1462/$) to create job opportunities for young people in the country in partnership with the European Union (EU) and United Nations Development Programme (UNDP).
The investment is the Second Phase of the Nigeria Jubilee Fellows Programme (NJFP) 2.0, designed to connect “high-potential graduates with real-world work experience, training, and mentorship”.
Vice-President Kashim Shettima made the disclosure on Wednesday, during the formal take-off of the NJFP at the Presidential Villa, Abuja.
According to data from the National Bureau of Statistics (NBS), Nigeria’s unemployment rate rose to 5.3% in the first quarter (Q1) of 2024, before dropping to 4.3% in the second quarter (Q2).
Speaking during the take-off, Shettima said the goal is “to bridge the transition gap between learning and earning for thousands of young Nigerians; graduates who have the education, but not always the opportunity.”
He added that this will translate the nation’s demographic strength “into productive economic power, proving that when government provides structure, partnership, and purpose, young Nigerians rise to the occasion”.
The VP noted that while the NJFP is a Nigerian programme shaped by national priorities and guided by the nation’s sense of purpose, the administration of President Bola Ahmed Tinubu is determined to deepen the ownership by embedding the programme into the government’s national planning and budgeting frameworks.
He stated: “This government will do its part — by ensuring that our financial commitment to the programme reflects our belief in its transformative potential. But national ownership must also mean national participation.
“As we launch NJFP 2.0 today, I call on our partners — from the private sector, the development community, and the donor ecosystem — to join us in building the NJFP Basket Fund, a sustainable financing mechanism to secure the programme’s future.
“Our immediate goal is to raise $220 million, not as charity, but as an investment in the nation’s most valuable asset: our young people”, he stressed.
The Federal Government first introduced the National Youth Empowerment Programme in September 2021, with the goal of tackling unemployment and bridging the gap between classroom learning and workplace experience.
