As part of its support for young people in Nigeria and to boost their capacities, the African Development Bank (AfDB) will establish a Youth Entrepreneurship Investment Bank for Nigeria.
AfDB president Akinwunmi Adesina made this known on Friday in Abuja while delivering a keynote address at the 90th Birthday Lecture of former Head of State Yakubu Gowon.
“I am delighted to announce here today that just three days ago, the African Development Bank’s board of directors approved $100m for the establishment of the Youth Entrepreneurship Investment Bank for Nigeria,” he said.
Adesina said the move underscores AfDB’s resolve to support youths who he believes are critical to the development of the country.
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According to him, the bank will support youths technically and otherwise.
“This new bank will support the business of the youths in Nigeria using technical assistance, business incubation, and invest equity, quasi-equity,” and others, the AfDB boss told the audience which included former president Olusegun Obasanjo, governors, ministers, and other top dignitaries.
”Don’t get me wrong but I don’t believe Nigeria’s youth or Africa’s youth lies in Asia, America or Europe or anywhere else. It lies in Nigeria growing very well with equitable growth.”
By: Babajide Okeowo
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