The Federal Executive Council has approved the institutionalization of a 10 percent youth quota in all government appointments and an equitable young women representation.
The Minister of Youths, Dr Jamila Ibrahim disclosed this at the end of the 4th FEC meeting, on Monday in Abuja.
She said that the council also approved the restructuring of the Nigerian Youth Investment Fund and the revamping of the Youth Investment Fund.
The minister said that the quota would encourage young people to participate in decision-making processes and in civic engagements.
“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 institutionalize 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 to institutionalize 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 agric. investment of small and medium enterprises,” she said.
Ibrahim said that these schemes would support young businesses and bring a lot of succour to young persons in the country.
She said that the commencement of the schemes would be done with collaboration from relevant agencies like agriculture and food security, creative economy as well as state governments among others.
