FG unveils plan to establish National Youth Development Bank

The Federal Government has announced plans to establish a National Youth Development Bank and a Youth Data Bank.

The initiative was unveiled on Tuesday by President Bola Tinubu, represented by Vice President Kashim Shettima, during the Stakeholders Roundtable on Northern Youth Development organized by the Sir Ahmadu Bello Memorial Foundation in Abuja.

President Tinubu emphasized the importance of these banks as essential resources to provide both financial and informational support to young Nigerians. He noted that since taking office, his administration has implemented a comprehensive youth development strategy aimed at driving economic transformation across various sectors.

During his address, Tinubu paid tribute to the late Sardauna of Sokoto and former Premier of Northern Nigeria, Ahmadu Bello, praising his enduring impact on Nigeria’s development.

” The late Sir Ahmadu Bello, the Sardauna of Sokoto, was one of the towering giants on whose shoulders we have ascended as a nation.

” His vision was clear: the North cannot progress in isolation, and Nigeria cannot prosper unless every part of this nation thrives,” he said.

Tinubu declared that the development of Northern Nigeria remains fundamental to the nation’s prosperity.

According to him, “whatever disrupts the growth of one region sets back the entire nation.

“For far too long, we have been taunted as a nation with the most children out of school—a reality that should not elicit pride but provoke urgent action.

“This alarming statistic has turned the promise of our population into a challenge rather than the dividend it ought to be,” he added.

Tinubu re-echoed his administration’s pioneering youth development initiatives, including the Three Million Technical Talent (3MTT) programme and the Presidential Initiative for Youth Enterprise Clusters.
“Our creative and digital economy is another goldmine,” the President said, outlining programmes such as the Skill-Up Artisans Programme (SUPA), Nigerian Youth Academy (NIYA), and the National Youth Talent Export Programme (NATEP).

He listed other programmes including the Nigeria Education Loan Fund (NELFUND) for higher education access, Investment in Digital and Creative Enterprises (iDICE) for digital entrepreneurship.

They also included, Outsource to Nigeria Initiative (OTNI) for global market participation, Youth Enterprise Clusters for business development, and the Renewed Hope Housing Scheme to address accommodation needs.
On agriculture, the President said that investments in the sector and industrialisation would further position the North as Nigeria’s foremost agricultural hub.

Addressing the region’s security challenges, Tinubu further outlined measures “to restore stability to the North.

” The measures include strengthening community policing, rehabilitating displaced persons, and addressing cross-border challenges like smuggling and insurgency.”

He emphasised the urgency of the moment, saying ” By 2050, Nigeria will become the third-largest nation globally, with three-quarters of our citizens under the age of 21.

“Our challenge here is to engineer a transition towards a federation defined by order, stability, and safety,” he added, noting that “this task is both urgent and achievable.”

The President also made a direct challenge to young Nigerians: “You are not just the future of this nation—you are its present.

” Your energy, ideas, and determination are already shaping our policies and programmes.”
“Our commitment is to provide you with the skill set and opportunities to thrive in a competitive world”.
He assured that the administration would unlock the potential of the Nigerian youth, ensuring that their dreams transform the country into an enduring symbol of democracy, development, and progress.
Speaking in the same vein, the Sultan of Sokoto, Sa’ad Abubakar III, emphasised the critical role of youth education in national development.

‘ Our youths are the foundation of any development we envisage in our society. They are not just leaders of tomorrow but leaders of today,” he said.

The Sultan further highlighted the importance of continuous dialogue with the youth, stating that “forums like this must be held continuously to dialogue with our youths across the northern states.”
He emphasised the primacy of education, asserting that it “is the strongest legacy any leader can leave to society.

“Without education, you are a nobody. I believe in infrastructural development like roads and bridges but more money should be spent educating our children.

“That is why we need to dwell more on how we can ensure that our children are educated.”
Earlier, the Chairman of the foundation’s Board of Trustees, Muazu Babangida, noted that the event marked the foundation’s 15th anniversary