The Ministry of Youth Development, in collaboration with the Nigerian Export-Import Bank and other partners, has empowered 17 youths to start small businesses with N1 million each.

The other partners are the Small and Medium Enterprise Development Agency of Nigeria, Super team and Saphittal.

Youth minister Ayodele Olawande spoke at the Nigerian Youth Academy Startup Pitch 2025 Competition on Wednesday in Abuja.

Mr Olawande said that the idea behind the initiative was to support the government’s economic drive in developing the Nigerian youths. He said President Bola Tinubu’s commitment to NIYA was geared towards empowering the youths productively and supporting youth initiatives.

“We are ready to partner with a lot of private organisations; there is nothing Nigerian youths need now than to support them. Its main objective is to equip young Nigerians with the knowledge and skills they need to thrive in today’s fast-changing economy.

“Through our One Youth, Two Skills initiative, we ensure that every Nigerian youth is empowered with at least two marketable skills that open doors to employment, entrepreneurship, and financial independence,” said the minister.

Charles Oddi, director-general of SMEDAN, said the main objective of the competition was to provide funding for startups.

According to him, 70 per cent of our startups in Nigeria are youth-owned and youth-led.

(NAN)