- The Federal Government has inaugurated a technical committee to establish the National Youth Bank, aimed at empowering young Nigerians for development
- Minister Ayodele Olawande emphasizes the need for transparency and partnerships to ensure the Youth Bank effectively supports diverse youth opportunities
The Federal Government has inaugurated a technical committee to establish the National Youth Bank. This initiative aims to empower young people, harness their potential, and support their ambitions for sustainable development.
The Minister of Youth Development, Comrade Ayodele Olawande, made the announcement during a brief inauguration ceremony in Abuja.
The Ministry’s Director of Information and Public Relations, Omolara Esan, outlined the event’s details in a statement.
Olawande tasked the committee with laying a strong foundation for the Youth Bank. He emphasized that the committee’s role includes designing governance structures, defining financial services, and creating strategies to effectively engage young Nigerians.
He added that the framework must prioritize transparency, accountability, and long-term sustainability.
He urged the committee to build partnerships with financial institutions and other stakeholders. This collaboration aims to provide the Youth Bank with the resources and support necessary for growth.
Additionally, the Minister stressed inclusivity, ensuring that all youths—regardless of socioeconomic status, gender, or location—can access the bank’s opportunities.
“The vision for the Youth Bank is aligned with the presidential mandate to create a dynamic platform where young people can access financial support, resources, and mentorship to turn their ideas into reality,” Olawande said.
He described the Youth Bank as an institution that offers more than financial capital. It will also provide capacity-building, guidance, and opportunities to empower young Nigerians to become leaders, innovators, and entrepreneurs.
Olawande thanked the Development Bank of Nigeria for co-chairing the event and acknowledged the support of the Central Bank of Nigeria, the Bank of Industry, the Ministry of Finance, and the Nigerian Sovereign Investment Authority.
In his address, the Permanent Secretary of the Ministry of Youth Development, Mr. Olubunmi Olusanya, highlighted the untapped potential of Nigerian youth.
He noted that many lack the financial resources and networks to realise their ambitions fully.
Mr. Boneventure Okhaimo, a Bank of Industry (BOI) representative, reaffirmed the institution’s readiness to collaborate with the ministry and stakeholders.
He emphasized the committee’s importance in achieving President Bola Ahmed Tinubu’s vision for empowering Nigerian youth.