The Federal Government has launched the Renewed Hope Youth Strategic Blueprint, aimed at unlocking the vast potential of Nigeria’s youth to drive economic growth.

The unveiling took place during a donor engagement meeting designed to foster collaboration and attract strategic investments to support youth development initiatives.

At the event held in Abuja over the weekend, Comrade Ayodele Olawande, the Minister of Youth Development, emphasised that Nigeria’s youth represent over 70% of the population, making them a key driver of socio-economic transformation.

He highlighted the nation’s significant advantage of having more than 130 million young people, stressing that this demographic could either become a powerful force for progress or present challenges if not properly invested in and supported with innovation.

Olawande acknowledged the pressing issue of youth unemployment, noting that despite existing challenges, the government has made considerable progress.

He stated, “The youth unemployment rate has dramatically decreased from a concerning 12.55% in 2020 to a remarkable 5.84% in 2023, showcasing the effectiveness of targeted policies and initiatives designed to empower young people.”

However, he also pointed out that the rate rose slightly to 6.5% in the second quarter of 2024, underscoring the need for sustained efforts to maintain and accelerate this progress.

The Minister called for continued donor support, urging investments and innovative programmes to equip young people with the skills and opportunities they need to succeed in today’s competitive job market.

He also stressed the importance of reshaping the mindset and behaviour of youth, particularly in the era of social media and digital technology.

Olawande further noted the opportunity to reform government institutions, such as the Ministries of Youth, the National Youth Service Corps (NYSC), and the Citizenship and Leadership Training Centre, which could become central platforms for driving youth development policies in the 21st century.

Representatives from major donor agencies, including the African Development Bank and the Islamic Bank, also spoke at the event.

Dr Osubor Gregory from the African Development Bank reaffirmed the organisation’s commitment to youth empowerment, emphasising that every project would directly benefit young people.

“The African Development Bank is determined to ensure that every project directly benefits youth, fostering their growth and potential for a brighter future,” he stated.

Ibrahim Suraju of the Islamic Bank highlighted their dedication to supporting programmes that foster skill development, entrepreneurship, and innovation, which are critical for sustainable economic growth.

“These elements are not just important; they are essential catalysts for driving sustainable economic growth. Together, they can pave the way for a brighter future,” Suraju stated.

The event called for ongoing collaboration between the government, donors, and stakeholders to ensure that the youth can play a transformative role in shaping Nigeria’s future as its population continues to grow towards 350 million by 2050.