The Nigerian government has unveiled a new initiative to support young entrepreneurs and boost agricultural development, the Finance Minister and Coordinating Minister of the Economy, Wale Edun, announced. The program targets Nigerians aged 18 to 35, particularly those managing small and medium-sized enterprises (SMEs), providing critical funding to foster business growth and job creation.
In a statement, Edun highlighted that the cabinet had also approved $50 million from the Islamic Development Bank for an integrated agricultural development project in Yobe State, aimed at enhancing food security and improving rural livelihoods.
“This funding demonstrates our commitment to empowering young Nigerians and strengthening the agricultural sector, which remains a key driver of economic resilience,” the minister said.
Edun noted that President Bola Tinubu commended the cabinet for advancing the Renewed Hope Agenda, pointing out positive economic trends including GDP growth of 3.89% in Q3 2025. He added that inflation is beginning to ease and both agriculture and industry have posted encouraging gains.
Despite these improvements, the minister emphasized that the president remains focused on achieving an annual GDP growth target of 7%, a benchmark seen as essential to reducing poverty and creating broad-based economic opportunities.
President Tinubu has instructed ministries, departments, and agencies (MDAs) to prioritize capital projects that stimulate economic growth and generate employment. The economic management team is tasked with reviewing these priorities and submitting recommendations for final presidential approval.
This dual focus on youth entrepreneurship and agricultural development reflects the government’s strategy to sustain economic recovery, promote inclusive growth, and ensure that young Nigerians play a central role in the nation’s development trajectory.
