The Nigerian Federal Government has embarked on an ambitious skills development initiative, the Skills-to-Wealth (S2W) program, aimed at tackling unemployment, boosting economic growth, and addressing critical national needs in key sectors such as agriculture, automobile technology, and renewable energy. This program underscores the government’s commitment to equipping young people with practical skills that align with current market demands, fostering self-reliance, and driving economic diversification. The Minister of Humanitarian Affairs and Poverty Reduction, Professor Nentawe Yilwatda, emphasized the program’s significance in bridging critical skill gaps and contributing to national development. He reiterated the government’s commitment to empowering the youth, reducing poverty, and stimulating economic growth through targeted interventions and strategic partnerships.
The S2W program aims to train 10 million beneficiaries within a year. Initially, a pilot program involving 27 participants from each of the six geopolitical zones is underway, serving as a blueprint for the larger-scale rollout. The targeted sectors – agriculture, automobile technology, and renewable energy – reflect the government’s strategic focus on addressing critical national challenges, including food insecurity, energy shortages, and the need for skilled manpower in rapidly evolving technological landscapes. The program emphasizes training that directly aligns with market demands, ensuring that graduates are equipped with relevant skills that enhance their employability and entrepreneurial potential within Nigeria and potentially beyond its borders.
The Minister highlighted the provision of starter packs for over 8,000 beneficiaries, demonstrating the practical support offered to participants to enable them to translate their acquired skills into income-generating activities. Ongoing training is being provided to over 1,000 individuals, marking the initial phase of this extensive program. Collaboration with established institutions like the Industrial Training Fund (ITF) reinforces the program’s focus on quality training and certification, ensuring that graduates possess recognized qualifications that enhance their credibility and marketability. This collaborative approach ensures that the training provided meets industry standards and equips beneficiaries with the knowledge and practical skills needed to thrive in their chosen fields.
To further bolster the program’s impact and sustainability, the government is actively engaging with the private sector. This partnership aims to ensure that the skills imparted align with market demands, enhancing the employability of graduates and facilitating their integration into the workforce. This strategic collaboration fosters a direct link between training and employment opportunities, increasing the likelihood of successful outcomes for participants. The initiative aligns with the President’s directive to expedite the program’s implementation and maximize its reach to address youth unemployment and stimulate economic activity.
Beyond skills acquisition, the government is promoting entrepreneurship and access to finance among S2W beneficiaries. The minister encouraged participants to form cooperatives and leverage government initiatives such as the Government Enterprise Empowerment Programme (GEEP), which offers zero-interest loans to small businesses. This provision of seed capital empowers graduates to establish their own ventures, contributing directly to job creation and economic diversification. The focus on cooperative formation encourages collaboration, resource sharing, and collective bargaining power, fostering sustainable livelihoods and strengthening local economies.
In addition to targeted skills development and entrepreneurship support, the government is emphasizing financial inclusion and the expansion of FinTech services nationwide. This initiative recognizes the crucial role of access to financial services in facilitating economic empowerment and promoting sustainable development. This broader financial inclusion strategy aims to integrate a larger segment of the population into the formal financial system, providing access to credit, savings, and other financial services that can support their economic activities and improve their livelihoods. This commitment to financial inclusion demonstrates a holistic approach to poverty reduction and economic empowerment. The allocation of one trillion naira in soft loans for the agricultural sector further underscores the government’s commitment to supporting key economic sectors and stimulating growth. The minister emphasized the unprecedented scale of this program within Africa, highlighting the government’s ambitious vision for economic transformation. The integration of IT and data-driven initiatives reflects a modern approach to governance and service delivery, aiming to achieve widespread impact and accelerate progress towards national development goals.
