Captain of IndustryJanuary 31, 2025

CBN to boost youth entrepreneurship with credit, training

The Central Bank of Nigeria has reaffirmed its commitment to empowering young Nigerians through youth-friendly credit policies and capacity-building programmes to foster economic growth and innovation.

Speaking at the Youth Action Event in Abuja on Friday, the CBN Governor, Olayemi Cardoso, who was represented by the Deputy Governor, Economic Policy, Muhammad Abdullahi, stated that the apex bank remained dedicated to providing young people with the necessary financial tools to succeed.

He further emphasised that the bank’s policies would support youth entrepreneurship and innovation, particularly in emerging sectors such as the green economy and digital transformation.

“We will harness our economic policies to create opportunities for youth to thrive as entrepreneurs, innovators, and key drivers of economic development.

“Initiatives such as youth-friendly credit policies and capacity-building programmes will be enhanced to equip young Nigerians with the tools they need to succeed, especially in emerging sectors like the green economy and digital transformation.”

Cardoso noted that Nigerian youths were not just the leaders of tomorrow but key stakeholders in shaping economic policies and transformations today.

He stated that the CBN was focused on ensuring that young Nigerians had access to opportunities that would enable them to thrive as entrepreneurs, innovators, and job creators.

The governor stressed that financial inclusion remained central to the bank’s mission, adding that the CBN would continue to design and implement policies that bridge financial access gaps, particularly for young people and underserved communities.

He said these policies would empower the youth to actively contribute to building a sustainable future by ensuring they had access to financial services that support their aspirations and economic participation.

He further stated that the bank was committed to strengthening partnerships with civil society, international organisations, and the private sector to amplify the impact of youth-led solutions, drive job creation, and promote innovation at both national and global levels.

He added that fostering collaboration would enhance the effectiveness of economic policies targeted at young people and create an environment conducive to sustainable development.

Cardoso also highlighted the importance of integrating youth voices into policy formulation, stating that the CBN was committed to establishing platforms that allow young Nigerians to engage meaningfully in economic decision-making.

He explained that ensuring the inclusion of young people in policy discussions would help shape strategies that align with their realities and aspirations.

The governor described the Youth Action Event as more than just a forum for discussion, calling it a call to action.

He urged participants to take concrete steps towards turning ideas into tangible outcomes, stressing the importance of setting measurable targets and timelines for youth-focused initiatives.

Also speaking on the significance of the event, the Vice President of the Joint Consultative Council of the CBN, Jamilu Ado, described the Youth Action Event as a crucial step in advancing the goals outlined in the Pact for the Future.

He said the summit provided an opportunity to share valuable insights, inspire greater participation, and mobilise Nigerians towards achieving these ambitious targets.

He reiterated the CBN’s commitment to providing staff with platforms to showcase their skills, ideas, and leadership on the global stage, noting that this effort was essential to inspiring Nigerian youth towards meaningful global action.

Ado highlighted the importance of collaboration in achieving sustainable development, stating that unlocking the wealth of talent within the CBN and engaging with civil society organisations, dedicated individuals, and key stakeholders would drive meaningful change.

He described the CBN’s participation in the United Nations General Assembly’s Pact for the Future summit as a historic milestone, emphasising that it showed the bank’s dedication to fostering an empowered and dynamic workforce.

He noted that as the bank navigated changes in leadership and strategic direction, empowering staff to engage with global platforms was not just beneficial but essential to shaping economic transformation in Nigeria.

The Minister of Youth Development, Ayodele Olawande, affirmed the government’s commitment to youth welfare in the country.