FG partners with Mastercard foundation to empower SMEs

The Nigerian government has forged a groundbreaking partnership with the Mastercard Foundation Fund for Resilience and Prosperity, aiming to bolster employment opportunities for the nation’s youths, with a particular emphasis on marginalized groups such as men, women, individuals with disabilities, and Internally Displaced Persons (IDPs).

During a recent meeting at her office in Abuja, Dr. Jamila Bio-Ibrahim, the Minister of Youth Development, unveiled this transformative initiative alongside Abraham Jeff Ndambuki, the Grants, Finance, and Risk Management Officer of the Mastercard Foundation Fund.

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Highlighting the Ministry’s strategic priorities aligned with the Federal Government’s agenda, Dr. Bio-Ibrahim emphasized sectors such as Agriculture, Climate Adaptation, Digital Economy, Bio-economy, Mining, and Renewable Energy as focal points for youth empowerment through Small and Medium Enterprises (SMEs).

In a bid to optimize benefits for aspiring entrepreneurs, the Minister advocated for a clustered approach in participant selection, enabling individuals to leverage the collective advantages within their respective clusters. Dr. Bio-Ibrahim underscored the potential for this strategy to amplify opportunities and foster collaboration among peers.

Furthermore, the Minister pledged to provide the foundation with a comprehensive database of eligible youths, ensuring the sustainability and success of their businesses. Additionally, she announced plans for the establishment of a Youth Development Bank and ongoing enhancements to the Youth Investment Fund, affirming the government’s commitment to refining and expanding these programs in alignment with national priorities.

The collaborative endeavor between the Nigerian government and the Mastercard Foundation represents a significant step towards fostering youth empowerment and economic resilience in the nation, underscoring a shared vision for inclusive growth and sustainable development.