The Nigerian government has approved N110 billion for youth startups and early-stage businesses. This decision aims to help young entrepreneurs grow their businesses and boost the economy.
The Minister of Youth Development, Dr. Jamila Bio-Ibrahim, announced this news. The funds will be managed through the restructured Nigeria Youth Investment Fund (NYIF). This move is meant to support young business people in Nigeria.
The Nigerian Federal Government has started a new cash transfer program. This program will help 75 million Nigerians by giving them direct cash. This is to help those who find it hard, especially people who do not have much. The government is doing this after checking the old way of doing things to stop any wrong actions and make the system better.
Ogun State has started the second phase of its N1 billion Operational Grant for Micro and Small Scale Enterprises (MSMEs). This grant is part of the OG-CARES scheme. The first phase was in 2023, where 1,000 small businesses got money. Now, the second phase will help 2,822 more businesses.
The Minister of Youth Development, Jamila Bio-Ibrahim, has announced plans to change the National Youth Service Corps (NYSC) Scheme. More than 5,000 corps members will get grants of N10 million each for their business ideas. A team will be set up to lead this change.
World Bank’s Assessment of the Federal Government’s Cash Transfer Program
The World Bank recently conducted a thorough analysis of the Federal Government’s conditional cash transfer program, initiated in 2016. This program was designed to improve the socio-economic status of the most vulnerable segments of the Nigerian population by providing monthly financial support.
UNICEF helps children in very difficult places around the world. They work hard every day to make sure all children can live a good life, have their rights protected, and reach their full potential. They do this work in 190 countries.
