The private sector-led Coalition Alliance Against COVID 19, CACOVID, has unveiled plans to empower four million Nigerian youths with N150 billion employment programs across the country.
The Co-Chairman of CACOVID and Governor, Central Bank of Nigeria, CBN, Godwin Emefiele, made the disclosure while briefing the media alongside the President of Dangote Group, Aliko Dangote, Chairman of United Bank for Africa, Tony Elumelu, and the Managing Director of Access Bank Plc, Herbert Wigwe.
According to Mr. Emefiele, once the nation’s high rate of unemployment is curtailed, social unrest will be significantly reduced, revealed that unemployment among the youth was a critical factor behind the recent EndSARS protest.
As a result of that, Mr. Emefiele said “CACOVID has committed to creating a high impact youth development program that will provide technical and vocational education to over 4 million Nigerian youths over the next 5 years.
“Students will be trained on craftwork, plumbing, masonry, carpentry, and other artisanal related skills for which sufficient demand exist in Nigeria.
“Over N150bn is expected to be deployed towards the setup and implementation of the youth development program, which will be available at select training centers across the country.”
At the conclusion of the program, Mr. Emefiele said the students will be certified by the appropriate standards board and will be eligible to receive loans to support their entrepreneurial pursuits.
So far, he said, “over N25bn will be domiciled in a fund to support these entrepreneurial pursuits, which would also include acquisition of related equipment’s to conduct business activities.
“The ultimate objective is to provide young Nigerians with employable skill sets that will enable them to live a gainful life. We believe this initiative can lead to the creation of over 4m jobs over the next five years”
For the out of school graduates that possess certain entrepreneurial skills, the apex bank governor said, CACOVID will be working with Bankers Committee to complete the Creative center at the National Arts Theater area of Lagos in four select areas namely; ICT and software design/development, Fashion, Music, and Movies.
This project, according to him, is expected to cost the Bankers Committee over N40 Billion.
