The National Assembly has reaffirmed its commitment to enacting laws and backing policies that promote youth entrepreneurship and economic inclusion in Nigeria.
This assurance was given by the Deputy Speaker of the House of Representatives, Benjamin Kalu, during the 2024 Ugwumba Enterprise Challenge (UEC), organized by the Ugwumba Centre for Leadership Development in Africa (UCLDA), on Tuesday in Abuja.
Kalu highlighted the Federal Government’s dedication to providing avenues for young Nigerians to access training, mentorship, and funding through various programs.
“Nigeria is home to one of the largest youth populations in the world. This offers immense potential for innovation, economic growth, and leadership. However, the International Labour Organisation (ILO) warns that youth unemployment negatively impacts economic growth, stability, and social progress,” Kalu stated.
He commended platforms like the UEC for equipping young entrepreneurs with essential tools, mentorship, and financial support, emphasizing the importance of a supportive environment for entrepreneurship.
“As policymakers, we must complement such initiatives by creating a business-friendly environment. This includes improving access to credit, enhancing digital infrastructure, and aligning our educational system with the needs of the modern workforce,” Kalu added.
Since its inception in 2018, the Ugwumba Enterprise Challenge has supported over 5,000 small and medium-scale businesses, creating jobs for more than 20,000 youths across Nigeria.
Kalu urged participants to view entrepreneurship as a journey of value creation, problem-solving, and legacy-building, rather than mere profit-making.
Former Minister of Information, Frank Nweke Jnr., also praised the initiative, lauding Ugwumba Centre founder Uche Nwosu’s dedication to youth empowerment and national development.
“Instead of retreating after the Imo governorship race, Nwosu embraced the noble cause of supporting entrepreneurial development. His efforts are a legacy of inspiration pleasing to both God and man,” Nweke said.
Nweke emphasized the importance of personal responsibility in self-development, noting the global shift toward innovative and practical education aligned with national development goals.
The Executive Director of UCLDA, Remy Chukwunyere, celebrated the center’s success in identifying and nurturing young talent. He cited examples of beneficiaries like Valentine Nnamani, who recently won $10,000 in an international pitch competition, and Ruth Ede, who secured a $20,000 grant.
“Such successes speak volumes about the impact of our work. These young individuals are not only achieving personal milestones but are also contributing significantly to the economic development of Nigeria,” Chukwunyere stated.
Source: PM News
