FG partners Wema Bank to empower 1 million youths in seven States

The Federal Government has partnered with Wema Bank to empower at least one million youth across seven states of the federation, Naija News reports.

Nigeria’s Vice-President, Kashim Shettima, disclosed this in a statement signed and made available to newsmen during the weekend by the director of information in the office of the vice-president, Olusola Abiola.

The initiative, according to Shettima, will bring about the establishment of micro, small and medium enterprise (MSME) digital hubs in seven states.

While stating that the initiative is part of President Bola Tinubu‘s administration to create digital jobs for the youth, Abiola said the government reached an agreement to implement the initiative following a meeting between the vice president and representatives of Wema Bank.

“The centres to be known as FGN/ALAT Digital and SkillNnovation Hub will open first in Lagos and Borno States with Katsina, Cross River, Anambra, Oyo, and Kano to follow afterwards. They will be run in partnership with a leading financial institution in Nigeria, WEMA Bank,” the statement issued on Sunday reads.

“The strategic objectives of the programme include: empowering young entrepreneurs by providing them with tailored financial products, training and support to enable them to build sustainable businesses that will support the growth of Nigeria’s economy.

“Other objectives include: supporting tech-savvy youths with a keen interest in digital innovations and aspire to drive technological advancements by providing them with financial solutions, training and access to strategic partnerships; and empowering young employees to become an integral part of the workforce in Nigeria, especially those deployed through the NYSC,” the statement quoted the Vice President saying.

It added that one million youths will benefit from software engineering, product design and other digital training, while 500,000 SMEs will be mentored in business development.

“FGN/ALAT Digital and SkillNnovation Hub, positioned to serve as a centralized platform to provide cutting-edge digital skills, mentorship and networking opportunities, is targeted at tech-savvy youths and young entrepreneurs in Nigeria,” Abiola noted.

According to him, the federal government’s initiative is focused on promoting entrepreneurship, skills development and the integration of young employees in the workforce, particularly getting one million youths employed in the digital economy and upskilling SMEs who can directly add value to the country’s economy.

It added: “In training, 1 million young adults will be trained in software engineering, product management, business analysis, cloud computing, and product design, using a specialized curriculum designed for the FGN/ALAT Digital and SkillNnovation Hub.

“In mentorship, 500,000 SMEs across Nigeria will be mentored by experts while coaches will train and upskill them for business growth and quantum leap.

“Under the scheme, grants will be provided under a collaborative arrangement between the federal government and WEMA Bank, setting aside N500 million to be given to SMEs and techprenuers.”