NIGERIA - Youth Entrepreneurship Investment Bank (YEIB) — Nigeria

Overview

The proposed Nigeria Youth Entrepreneurship Investment Bank (Nigeria YEIB or N-YEIB) will contribute to the implementation of Nigeria’s Agenda 2050, which aims to accelerate sustained and broad-based growth and development, in order to reduce unemployment, poverty, inequality, gender inequity and human deprivation. A key policy objective of this blueprint is to build a nation where innovation and entrepreneurship are actively explored in order to create value and prosperity for all by the year 2050. The implementation of the objectives of Agenda 2050 are articulated through six, five-year, medium-term plans, the current being the National Development Plan (2021-2025). The NDP isolates Nigeria’s youthful demographic profile as a pivotal and investible asset to help drive economic expansion and shared prosperity. It prioritizes the easing of youths into the labour market productively, by building strong foundation for a diversified economy anchored on a robust Micro Small and Medium Enterprises (MSMEs) growth, and a more-resilient business environment. The project contributes to climate finance, with 40 million USD of the total approved amount dedicated to adaptation.