In a major boost for youth development, President Bola Tinubu has approved N10 billion for a Youth Development Fund targeting young people in the Federal Capital Territory (FCT). FCT Minister Nyesom Wike announced the fund on Monday during the inauguration of road upgrades at War College/Army Checkpoint Road and nearby routes in Ushafa, Bwari Area Council, Abuja.
Set for official launch on Thursday, the empowerment program is a key part of the federal government’s youth-focused agenda. Wike highlighted the president’s commitment to youth advancement, citing the creation of a Youth Development Secretariat and the appointment of a young leader to oversee it as key initiatives that underscore Tinubu’s focus on empowering FCT’s youth.
“This is unprecedented in the FCT’s history,” Wike emphasized. “The president is resolute about creating a Youth Development Fund to foster growth. This initial N10 billion is just the beginning, and we’re optimistic about the positive impact ahead.”
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The fund is part of the FCT’s supplementary budget, with Wike encouraging residents to back the initiative and support the Tinubu administration’s vision for a brighter future.
Background on FCT Funding Initiatives
In earlier discussions, Wike requested legislative approval to allocate N61.6 billion from the 2023 supplementary budget for key FCT projects, leveraging various financial inflows such as the Paris Club Refund and Special Intervention Funds. As a result, the FCT’s revised budget rose to N641.3 billion from the original N579.7 billion.
Earlier this year, the Senate also passed the FCT’s 2024 Statutory Budget of N1.282 trillion, further affirming support for development initiatives that prioritize the territory’s infrastructure and youth.
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