World Bank Grants FG $300m To Curb Youth Unemployment In Nigeria

As a step to curb the growing army of unemployed youths in Nigeria, World Bank devoted $300 million Youth Employment and Social Support Operation (YESSO) into the Nigerian economy with a view to providing jobs for the youth.

Speaking at the launch of the operation, yesterday, World Bank's Country Director to Nigeria, Ms Marie Francoise Marie-Nelly said that intervention is a response of the government's request to address a major challenge in Nigeria which relates to youth employment and improving social provision in Nigeria.

"This is just a flagship that is expected to cover all the states. In the first phase we have seven states from all the geopolitical zones and we expect to have more states in the second phase. We aim to reduce extreme poverty with particular focus on youths, and also educating them as well as providing skills. There is a strong focus of providing a social safetynet platform because we know that one major constraint of poor access to educational services is poverty.

The occasion is focused on strengthening national institutions. We are pleased to see the partnership we have with the states and we see in them the willingness to be on ground as soon as possible" she said.

Launching the programme, Co-ordinating Minister and Minister of Finance, Dr Ngozi Okonjo-Iweala, said that the intervention was open to all states in the country whereas Bauchi, Cross River, Ekiti, Kwara, Osun and Niger are all benefiting and met the conditions to start implementation saying that the Federal Government was working to enroll all the states.

"This is another initiative of the Federal Government aimed at partnering with state governments and other stakeholders in Nigeria to create new enterprises and jobs, reduce and eradicate poverty, build human capital and empower community especially the youth and poor in this nation.

"I thank the World Bank team and other partners for the attention they paid to a request that we made that we need instruments to address the issues of those at the bottom end of the ladder in our country, those seeking jobs, those who do not have adequate income. The Transformation Agenda of the president is designed not only to grow the economy but also to create jobs for our youths, women, skilled and unskilled and build a social safety net that will be lasting and enduring in this country."