Overhaul of Nigeria’s N-Power Scheme to Enhance Job Creation and Entrepreneurship
Nigeria’s N-Power Scheme is undergoing a significant transformation to equip young people with in-demand skills and provide financial assistance for entrepreneurial ventures. This reform, directed by President Bola Ahmed Tinubu, is part of a broader initiative to boost employment opportunities and promote economic inclusion, particularly for women and disadvantaged groups.
The updated program will prioritize industry-specific training over conventional skill development, ensuring participants are better prepared for the job market. Presidential aide Dada Olusegun emphasized that the curriculum will be tailored to meet private sector demands, increasing the employability of young Nigerians.
A key feature of the revised initiative is the introduction of cooperative clusters to facilitate employment generation. Beneficiaries will have access to low-interest credit ranging from N300,000 to N400,000, enabling them to establish or expand small businesses. This financial support aims to reduce economic disparities, particularly among women and aspiring entrepreneurs.
To implement these changes, the Nigerian government has procured over 100,000 empowerment materials and earmarked N32.7 billion for the National Social Investment Program (NSIP) in 2025. These resources will support skill development, credit access, and other initiatives to combat unemployment and stimulate economic growth.
According to Olusegun, 2025 will be a “year of rewards” for Nigerians who have faced economic challenges, with the revamped N-Power Scheme playing a crucial role in the administration’s Renewed Hope agenda.
By transitioning to a market-driven model, the initiative seeks to create sustainable employment pathways and foster entrepreneurship. The provision of accessible financial support will further encourage self-employment and small business expansion, contributing to lower unemployment rates nationwide.
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As Nigeria moves into 2025, these reforms represent a crucial step in redefining youth empowerment. By ensuring that skill development leads to real economic opportunities, the N-Power Scheme is poised to drive lasting change in the country’s workforce and economy.
