Tinubu Unveils Youth Academy to Tackle Unemployment and Boost Human Capital Development in Nigeria

Tinubu Launches Nigerian Youth Academy to Combat Unemployment and Strengthen Human Capital Development

President Bola Ahmed Tinubu inaugurated the Nigerian Youth Academy (NiYA) on Monday, marking a strategic move by the federal government to address Nigeria’s low human capital index, rising unemployment, and other socio-economic barriers.

The official launch, held at the Council Chambers of the Presidential Villa in Abuja, was announced in a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications (Office of the Vice President).

A Response to Unemployment and Youth Empowerment

The unveiling of NiYA comes amid Nigeria’s evolving labor market trends. The National Bureau of Statistics (NBS) reported that the unemployment rate dropped to 4.3% in Q2 2024, a slight decrease from 5.3% in Q1. However, the year-on-year comparison revealed a marginal increase of 0.1 percentage point from the same period in 2023, indicating persistent employment challenges.

Government’s Commitment to Skill Development

Represented by Vice President Kashim Shettima at the launch, President Tinubu reaffirmed his administration’s dedication to empowering Nigerian youth with essential skills to compete in the global economy.

Shettima highlighted key focus areas for youth training, including:

• Digital literacy and technical skills
• Entrepreneurship and business development
• Creative industries and innovation

Acknowledging Nigeria’s youthful demographic—where the median age is just 17 years—Shettima emphasized that preparing young Nigerians for the future is essential, especially as the country is projected to become the third-largest nation globally by 2050.

“NiYA is a bold response to Nigeria’s human capital development challenges. Over the next two years, this academy will train and empower millions of young Nigerians,” Shettima stated.

Key Initiatives to Support Youth Development

NiYA will focus on three core pillars:

1. Education and Skills Development – Providing training in emerging fields to boost employability.
2. Economic Empowerment – Facilitating access to funding, mentorship, and entrepreneurial resources.
3. Leadership and Civic Engagement – Encouraging active youth participation in governance and social impact initiatives.

To further support young entrepreneurs, the government will roll out financial programs such as:

• The Youth Investment Fund
• The Presidential Initiative for Youth Enterprise Clusters
• The National Youth Development Bank – Designed to provide capital for innovative business ideas.

Despite these initiatives, Shettima acknowledged Nigeria’s ongoing challenges in human capital development. “These statistics are not just numbers; they represent disrupted lives, deferred dreams, and uncertain futures,” he noted.

Financial Support for Young Entrepreneurs

During the launch event, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, presented N1 million each to six NiYA beneficiaries from Nigeria’s six geo-political zones. He described the start-up grant as a crucial step in equipping young Nigerians with the means to become self-employed and build sustainable careers.

With NiYA’s launch, the federal government aims to transform Nigeria’s youth landscape, equipping millions with the tools to drive economic growth, innovation, and national progress.