On Monday, July 15, the World Bank announced a $10 million investment in a skills development initiative aimed at reducing youth unemployment in Nigeria.
The announcement was made by Mistura Rufai, the Bank’s education specialist, during the launch of a two-day Innovation Grant Facilities (IGF) Memorandum of Understanding (MoU)/Contract Signing and Implementation Workshop held in Abuja.
The workshop, organized by the Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) Project under the Federal Ministry of Education, highlighted the critical need to empower and train Nigerian youths to enhance the country’s economic prospects. The initiative aims to empower over 50,000 youths nationwide, with around 78 grantees involved.
Rufai emphasized the facility’s role in supporting agencies that promote innovations in digital skills training. “This facility was designed to support agencies that promote innovations in digital skills training. It aims to support critical intervention projects within the skills development ecosystem, ensuring the proliferation of digital skills across the nation,” Rufai stated.
She further added, “Currently, about 10,000 youths are undergoing training at various levels from beginner to advanced. Within a year, we anticipate training over 50,000 grantees.”
IDEAS National Project Coordinator, Blessing Ogwu, stressed the program’s goal of providing every Nigerian child with the opportunity to learn and acquire essential skills. She highlighted the urgent need to address the increasing number of out-of-school children and urged grantees to stay committed to the initiative to help reduce youth unemployment.
“The essence of this project is to focus on skill acquisition to mitigate unemployment in Nigeria. We have a significant number of unemployed youths, and equipping them with skills is the solution,” Ogwu remarked.
IGF Consultant, Prof. Ndem Ayara, explained that the project, set to be implemented within one year, operates on a Public/Private Partnership (PPP) model. Ayara detailed, “In this partnership, the public sector will support the consortium in implementing the project up to 80%, while the private sector will contribute 20%. Of the 20%, the private sector will provide 10% in kind and 10% in cash, serving as the counterpart funding for the project.”
