FEC Approves Youth Empowerment Measures: 2% Quota In Government Appointments And Revamped Youth Investment Fund

FEC Approves Youth Empowerment Measures: 2% Quota In Government Appointments And Revamped Youth Investment Fund

In a bid to enhance youth inclusion and economic empowerment, the Federal Executive Council (FEC) has endorsed two significant initiatives. These initiatives aim to provide greater opportunities for the youth demographic within Nigeria…..READ ALSO 5 Effective Ways To Achieve Skin Lightening Using Potatoes

One of the approved measures involves the institutionalization of a 2% quota for youth representation in all government appointments, alongside a mandatory 30% representation of women. This move seeks to address the historical marginalization and exclusion of young people in decision-making processes, fostering their active participation in governance and civic engagements.

Addressing the press after the FEC meeting, Minister of Youth and Sports Development, Dr. Jemila Ibrahim-Bio, expressed enthusiasm over the approval, highlighting its potential to encourage youth engagement in key decision-making spheres.

Furthermore, the Nigerian Youth Investment Fund (NYIF) has been revitalized through restructuring and institutionalization via a legal framework. The fund, initially established in 2020 with a budget of ₦75 billion, will now receive an additional ₦25 billion from the 2023 Supplementary Appropriation Act, along with another ₦25 billion from the 2024 Appropriation Act. Additionally, ₦60 billion will be sourced from the Central Bank of Nigeria’s SME Investment Fund, with a focus on agricultural investments.

These measures are poised to provide crucial support to young businesses and stimulate economic growth, aligning with the government’s commitment to youth empowerment and entrepreneurship development

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