The Nigerian government announced yesterday that it had joined forces with Wema Bank to establish digital hubs for micro, small, and medium enterprises (MSMEs) in seven states.
Vice President Kashim Shettima, who revealed this in an official statement by the Director of Information in his office, Olusola Abiola, shared that these hubs would provide digital skills to one million young individuals.
He mentioned that the decision to implement this initiative was made following a meeting between the vice president and representatives from Wema Bank. This endeavor aligns with the administration’s dedication to generating digital employment opportunities for the nation’s youth.
As per the statement, “The hubs, to be known as FGN/ALAT Digital and SkillNnovation Hub, will first be established in Lagos and Borno states. Subsequently, the hubs will be introduced in Katsina, Cross River, Anambra, Oyo, and Kano.
“These initiatives will be carried out in collaboration with a leading financial institution in Nigeria, WEMA Bank. The program’s key objectives include empowering young entrepreneurs through tailored financial solutions, training, and support to help them establish sustainable businesses contributing to Nigeria’s economic growth.
“Additional goals encompass supporting tech-savvy young individuals interested in digital innovations, providing them with financial services, training, and access to strategic partnerships. Moreover, the initiative aims to empower young workers, particularly those deployed through the NYSC program, to become integral contributors to Nigeria’s workforce.”
The vice president emphasized that the initiative would provide one million youths with software engineering, product design, and other digital training. Additionally, 500,000 SMEs will receive guidance in business development.
“The FGN/ALAT Digital and SkillNnovation Hub, positioned as a central platform for cutting-edge digital skills, mentorship, and networking, focus on promoting entrepreneurship, skills enhancement, and integrating young professionals into the workforce. The aim is to employ one million young individuals within the digital economy and to enhance the skills of SMEs capable of directly impacting the country’s economy.
“Regarding training, the specialized curriculum of the FGN/ALAT Digital and SkillNnovation Hub will train one million young adults in software engineering, business analysis, cloud computing, product design, and more.
“Through mentorship, experts will guide 500,000 SMEs across Nigeria. Coaches will provide training and skills improvement for their business growth and advancement.
“Under the scheme, grants will be provided through a collaborative arrangement between the federal government and WEMA Bank, with N500 million allocated to be awarded to SMEs and technopreneurs,” he elaborated.