Will Nigeria's Youth Investment Fund Defuse Jobs Time Bomb?

The Central Bank of Nigeria has released the guidelines for the Nigeria Youth Investment Fund (N-YIF) with a take-off seed capital of U.S.$32,9 million. The scheme seeks to improve access to finance for youth and youth-owned enterprises for national development. It will also seek to generate much-needed employment opportunities, and boost  managerial capacity. Youth unemployment has posed a huge challenge for the government. Obinna Chima writes in This Day that the unemployment rate as of the second quarter of 2020 stood at 27,1%, according to the National Bureau of Statistics. This means that more than 22 million Nigerians are presently unemployed, with 13,9 million being young people.


(file photo).

AllAfrica publishes around 700 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.