Federal Government Rolls Out N1m Youth Startup Grant, N500,000 For Informal Sector

The Federal Government on Tuesday expanded its youth empowerment drive with the rollout of N1 million startup grant for young entrepreneurs and N500,000 support packages for beneficiaries in the informal sector.

The initiatives were unveiled under the second edition of the Nigeria Youth Academy (NiYA) Startup Grants.

President Bola Tinubu, represented by his Chief of Staff, Femi Gbajabiamila, unveiled the initiatives at the State House Conference Center, Abuja where he reaffirmed that youth empowerment remains a central pillar of his Renewed Hope Agenda.

He said his administration was implementing a coordinated suite of programmes—NiYA Academy, NiYA Startup, NiYA Jobs and the newly introduced NiYA Gigs—to equip young Nigerians with digital skills, enterprise tools and pathways into the global innovation economy.

“From the earliest days of this administration, I made a firm decision that Nigeria’s youth will not stand on the margins of our national development. This commitment is not political; it is personal,” the President stated.

Tinubu highlighted that the reforms aimed at expanding opportunities for youth-led businesses, including easing tax compliance for small enterprises, incentivising digital and creative-economy ventures and building a pipeline of globally competitive young service providers.

He also commended the Ministry of Youth Development for widening NiYA’s reach following the programme’s debut edition, which selected beneficiaries from more than 14,000 applicants nationwide.

Minister of Youth Development, Ayodele Olawande, said the government is building a comprehensive empowerment ecosystem—from skills acquisition to enterprise creation and income generation.

Announcing N1 million grants for 200 youth-led startups and N500,000 support for 100 beneficiaries in the informal sector, Olawande stressed that the funds are “not loans, but fuel for your journey.”

He also launched NiYA Gig, a national digital-work platform designed to connect young Nigerians to paid opportunities both locally and globally.

He highlighted the success of other youth-support tools such as the Nigerian Youth Help Desk and the WhatsApp AI Chatbot, which has engaged over one million young people.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said Nigeria’s demographic strength places its youth at the centre of the country’s economic future.

He stressed that investments in broadband expansion, digital skills, and automation will enable young Nigerians to export services without leaving the country.

“Nigeria’s youth are our demographic advantage. With proper preparation, young Africans will make up 25 percent of the world’s workforce by 2050,” he said.

Minister of State for Finance, Doris Uzoka-Anite Udoka, added that ongoing financial-sector reforms are targeted at easing access to credit, strengthening tax incentives and expanding digital infrastructure to support youth-led MSMEs.

She said new financial-inclusion tools and accountability systems ensure resources reach intended beneficiaries.

In a goodwill message, Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, described Nigeria’s youthful population as its greatest strategic asset, noting that over 70 percent of the nation’s 230 million citizens are under 18.

He pledged NITDA’s continued collaboration with the ministry, particularly on talent-development platforms and the National Digital Ecosystem Academy.

Special Adviser to the President on Policy Coordination, Hadiza Bala Usman, said Nigeria cannot attain President Tinubu’s target of a $1 trillion economy without fully unlocking youth potential.

She pointed to ongoing reforms of the National Youth Service Corps (NYSC), aimed at transforming the scheme into a career-launchpad for young graduates.