World Bank Commits $10 Million to Tackle Youth Unemployment in Nigeria

The World Bank has announced a substantial investment of $10 million aimed at enhancing skills development in Nigeria, with the primary goal of reducing youth unemployment across the country.

Mistura Rufai, an education specialist at the World Bank, revealed this initiative on Monday, July 15, during the commencement of a two-day Innovation Grant Facilities (IGF) Memorandum of Understanding (MoU)/Contract Signing and Implementation Workshop held in Abuja. The workshop was organized by the Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) Project under the Federal Ministry of Education.

Rufai stressed the critical importance of empowering and training Nigerian youths to bolster the nation’s economic prospects. The initiative is set to empower over 50,000 youths nationwide, with approximately 78 grantees actively involved in the program.

“This facility is designed to support agencies promoting innovations in digital skills training. It aims to facilitate critical intervention projects within Nigeria’s skills development ecosystem, ensuring the widespread adoption of digital skills across the country,” Rufai explained.

She added, “Currently, about 10,000 youths are undergoing training at various skill levels, ranging from beginner to advanced. We anticipate scaling this up to train over 50,000 grantees within the next year.”

Blessing Ogwu, the IDEAS National Project Coordinator, emphasized the program’s overarching objective of providing every Nigerian child with equitable opportunities to learn and acquire essential skills. Ogwu highlighted the urgent need to address the high number of out-of-school children in Nigeria, stressing the importance of committed participation by grantees to effectively combat youth unemployment.

“The essence of this project is centered on skill acquisition as a potent strategy to mitigate unemployment in Nigeria. With a significant number of unemployed youths, equipping them with practical skills remains a paramount solution,” Ogwu affirmed.

Prof. Ndem Ayara, the IGF Consultant, provided further insights into the project’s operational framework, which is designed as a Public/Private Partnership (PPP) model.

“In this partnership, the public sector will contribute up to 80% of the project implementation support, while the private sector will provide the remaining 20%. Of this 20%, the private sector’s contribution will include 10% in kind and 10% in cash, serving as counterpart funding for the project,” Ayara elaborated.

The workshop marks a pivotal step towards enhancing Nigeria’s educational landscape and workforce development, reflecting concerted efforts by both government and private sector entities to empower Nigerian youths with relevant skills for sustainable employment opportunities.