FG and YEIDEP Launch $2.5 Billion Global Fund (CYFAEP) to boost Employment Prospects for Women and Youth
Nigeria has started a large-scale national drive to address food insecurity, poverty, youth unemployment, and the growing risk of youth radicalization. The Youth Off The Street Initiative (YOTSI) and the federal government have partnered to create the new program, which is called the YEIDEP Global Donorship Drive and Fundraising Campaign. The Cooperative Youth Farmers and Allied Entrepreneurs Programme (CYFAEP) is an economic and empowerment project that aims to raise 2.5 billion US dollars.
Under the direction of the Federal Ministry of Youth Development, this program is a component of a larger intervention called the Youth Economic Intervention and De-Radicalization Programme (YEIDEP). Additionally, YOTSI is collaborating with private organizations and international partners to support the initiative. In addition to attempting to lessen the social and economic constraints that drive many young Nigerians to engage in violent groups, drug misuse, and criminal activity, the main goal is to empower young Nigerians by developing their abilities in entrepreneurship and agriculture.
Nearly six million young Nigerians, including young women, have already registered to take advantage of the program, according to Comrade Kennedy Iyere, the project organizer. Reaching up to 20 million youth beneficiaries by 2027 is the long-term objective, though. Participants will receive training in contemporary agriculture, small-scale business, agribusiness technology, food processing, clean energy, and other profitable endeavors. They will be selected from each state in Nigeria. The goal is to assist these young Nigerians in creating sustainable livelihoods and achieving financial independence, not just short-term assistance.
Eight commercial banks have been chosen to act as the money’s custodians and supervisors in order to maintain transparency and protect the cash. Wema Bank, Zenith Bank, GTBank, Lotus Bank, Union Bank, Fidelity Bank, Keystone Bank, and Providus Bank are some of these banks. In order to support youth-led enterprises and projects nationwide, their responsibilities will include securing the funding, keeping an eye on disbursements, and arranging financial transactions.
Speaking at the campaign’s official launch on Monday, Comrade Iyere called the effort a vital response to Nigeria’s escalating socioeconomic problems. “If action is not taken immediately to address youth unemployment, widespread hunger, and the lack of opportunities available to millions of young people, the country faces a dangerous future,” he said. Because of the growing dissatisfaction and susceptibility of its youth, he warned that Nigeria is sitting on what he called a “time bomb.”
He called on Nigerians from all walks of life to back the campaign, stressing that everyone’s collaboration is needed to solve these problems. This includes state governments, the commercial sector, foreign contributors, corporate executives, places of worship, and even regular people who might be able to provide a small amount of assistance. Young people who choose to pursue careers in agriculture and similar fields will get financial support from the campaign in addition to training, equipment, and mentorship.
Farming, agricultural technologies, food and beverage production, and clean energy solutions like solar power are the primary areas that YEIDEP will concentrate on. These industries were picked due to their capacity to stabilize communities, develop local economies, increase the supply of food, and create jobs. As the initiative expands, it is anticipated to improve the lives of people and communities by fostering sustainable development in both urban and rural areas.
Farming, agricultural technologies, food and beverage production, and clean energy solutions like solar power are the primary areas that YEIDEP will concentrate on. These industries were picked due to their capacity to stabilize communities, develop local economies, increase the supply of food, and create jobs. As the initiative expands, it is anticipated to improve the lives of people and communities by fostering sustainable development in both urban and rural areas.
Additionally, Comrade Iyere emphasized that politics, ethnicity, or religion had no bearing on the project. By giving young people a cause to work, hope, and faith in a brighter tomorrow, it aims to secure Nigeria’s future. He urged all Nigerians to put aside their differences and lend their support to the initiative, pointing out that it will benefit all areas.
YEIDEP will continue to offer updates in the coming months regarding the fundraising campaign’s progress, the number of adolescents enrolled, and the effects of its initiatives on local communities. The public can keep up with these updates by visiting yeidepnews.org.ng, the official YEIDEP site. For individuals who wish to learn more, track the project’s development, or become involved, the website will regularly post straightforward news and information.
The YEIDEP program is a brave and appropriate step as Nigeria deals with growing issues related to social stability, food security, and employment. The dedication of the public and private sectors, as well as the will of the young Nigerians it aims to empower, will be crucial to its success.
