When President Bola Ahmed Tinubu assumed office in May 2023, he met an economy struggling to provide opportunities for its young population—the largest demographic in Nigeria. Experts argue that any administration that fails to address this imbalance risks political, economic, and social instability.
Under the new scheme, corps members are entitled to a ₦77,000 monthly allowance and a ₦200,000 soft loan designed to support their living expenses during service and provide seed capital for small businesses after. Analysts describe the policy as a strategic investment in national stability and innovation.
Already, early signs suggest positive outcomes. Many corps members are now more willing to serve in unfamiliar states, helping foster national integration. Federal agencies have also keyed into the broader vision.
For instance, the National Education Loan Fund (NELFUND) has expanded student access to higher education, with over 400,000 students securing tuition loans across universities and technical institutions. Similarly, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched a ₦5 billion grant programme for young entrepreneurs.
While applauding the Federal Government’s efforts, KogiTribune notes that youth empowerment cannot be left to Abuja alone. States and local governments must also contribute through scholarships, mentorship initiatives, and support for local entrepreneurs to strengthen Nigeria’s innovation ecosystem.
This new policy builds on earlier reforms such as the “Not Too Young To Run” initiative introduced under former President Muhammadu Buhari, which sought to increase youth participation in politics. Though that effort was limited by financial barriers, the current reforms give young Nigerians stronger economic leverage to engage not only in business but also in governance.
Analysts argue that the active involvement of youths in the economy and political space will deepen Nigeria’s democracy with fresh ideas and perspectives. As Africa’s most populous nation, Nigeria must channel its human capital into tangible opportunities for its citizens—especially its younger generation.
While the loan scheme may not be perfect, it remains a commendable step toward youth empowerment. Stakeholders, rather than dismissing it, are urged to strengthen and expand the programme to ensure Nigeria’s youths are not left behind in shaping the nation’s future.
