The Bola Tinubu-led Government has approved the institutionalisation of a 10 per cent youth quota in all government appointments and equitable representation of young women.
The Minister of Youths, Dr Jamila Ibrahim, disclosed this to State House correspondents at the end of the Federal Executive Council (FEC) meeting, on Monday in Abuja.
The minister stated that the quota would encourage young people to participate in decision-making processes and civic engagements.
She also said the FEC approved the restructuring and revamping of the Nigerian Youth Investment Fund, which would support young businesses and provide much-needed succour to young people in the country.
Ibrahim said the fund distribution would commence with collaboration from relevant agencies, such as agriculture and food security, creative economy, and state governments.
She said: “This will, in turn, lead to young people’s contributing tremendously to the national development agenda.
“I’m also pleased to announce the second council approval to restructure and institutionalise the Nigerian Youth Investment Fund.
“This is a fund that was approved in 2020 and on assumption of Office of this administration, we commissioned a technical committee to review this fund and restructure it with the aim of institutionalising it through a legal framework, which will lead to the establishment of the Nigerian Youth Fund.
“We have secured council approval for the immediate release of N25 billion from the 2023 supplementary Appropriation Act and an additional N25 billion from the 2024 Appropriation Act under the Youth Development Fund for Development provision in the budget.
“We also received an additional approval from the council for a N60 billion release from the Central Bank of Nigeria through the agricultural investment of small and medium enterprises.”
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