The Minister of Finance, Wale Edun, has emphasized the Federal Government’s commitment to empowering Nigerian youths, highlighting their resilience, creativity, and key role in driving the nation’s socio-economic development.
Speaking at the Nigeria Sovereign Investment Authority (NSIA) Prize for Innovation event in Abuja, Mr. Edun noted that the government has opened several funding opportunities designed to help young entrepreneurs turn their innovative ideas into sustainable businesses. He urged youths to actively engage with these initiatives to create jobs and boost incomes.
The NSIA Prize for Innovation, now in its third edition, is a strategic platform aimed at discovering and nurturing homegrown solutions that can drive economic diversification and elevate Nigeria’s global competitiveness. The event also supports youth entrepreneurship and encourages scalable innovations, particularly in underserved rural communities.
Aminu Umar-Sadiq, Managing Director of NSIA, said the program is designed in partnership with the Presidential Initiative for Unlocking the Healthcare Value Chain and other stakeholders to maximize its impact nationwide.
Dr. Abdu Mukhtar, National Coordinator of the Presidential Initiative, and Joseph Gilson, Economic Advisor at the U.S. Embassy in Nigeria, both underscored the need for robust collaboration between the public and private sectors to strengthen Nigeria’s innovation ecosystem.
With 70% of Nigeria’s population consisting of young people, the Federal Government believes that strategic investments in youth-led innovations are critical to the country’s future growth.
The NSIA is optimistic that this platform will catalyze increased funding for youth-driven projects, fostering sustainable economic development.
