The Ministry of Youth Development and the Nigerian Insurance Commission have signed a Memorandum of Understanding to attract one million young Nigerians into the insurance sector.
The Minister of State for Youth Development, Ayodele Olawande, disclosed this on Friday during a press conference held at the Ministry’s office in Abuja.
Themed “One Million Youths in Insurance”, the Minister said the objective of the MoU was to increase youth participation in insurance, create jobs, and enhance financial inclusion, noting that the youth represented over 60 per cent of Nigeria’s population.
He added that the program will be hosted through the Nigerian Youth Academy digital platform already announced by President Bola Tinubu, which will deliver a number of courses to enable participant youths to gain knowledge and build networks with insurance brokers, companies, and other stakeholders.
“We understand that the major problem facing the youth is unemployment. This is why as a Ministry with the responsibility to create opportunities for youth, we are determined to work with every stakeholder to achieve results.
“With the theme, “One Million Youths in Insurance,” the MOU we are about to sign will guide our efforts within the next 1 year to bring one million young Nigerians into the insurance sector. The future of Nigeria rests on the shoulders of youth who make up over 60% of our population.
“Our mission with this project is clear: to increase youth participation in insurance, create jobs, enhance financial inclusion, and ensure that every young Nigerian will have peace of mind to pursue their dreams and entrepreneurship.
“Through our digital platform, the Nigerian Youth Academy (NiYA), which has already been announced by President Bola Tinubu, GCFR, we will host this program. And through NiYA, we will be able to deliver a large number of courses in insurance, enabling our youth not only to gain knowledge but also to build networks with insurance companies, brokers, and other stakeholders,” Olawande said.
PUNCH Online reports that the Ministry had signed a similar MoU with the Nigerian Data Protection Commission in September to train 5,000 Nigerian youth in data protection and privacy.
