In line with the Renewed Hope Agenda of President Bola Ahmed Tinubu to create jobs, empower the youth, and unleash the full potential of the economy, the Ministry of Youth Development, Friday, signed a Memorandum of Understanding with the National Insurance Commission (NAICOM) to train and expose one million youth to opportunities in the insurance sector.
The program, tagged “One Million Youths in Insurance,” is aimed at guiding the efforts of the Ministry of Youth Development within the next 1 year to bring one million young Nigerians across the 6 geopolitical zones into the insurance sector, and also to sensitize and empower the youth with knowledge and skills about insurance in a bid to foster a culture of financial security and growth.
The Minister of State for Youth Development, Comrade Olawande Emmanuel Ayodele, while giving his address at a brief MoU signing ceremony which held at the Ministry of Youth Development, emphasized the need for quick implementation of the program, noting that the youth need timely and measurable delivery of initiatives and policies of government.
While acknowledging the capacity of the program to increase youth participation in insurance, create jobs, enhance financial inclusion, and entrepreneurship, the Minister restated his commitment to engaging with diverse sectors in order to deliver more opportunities to the youth.
“Just last month, we signed an agreement with the Nigerian Data Protection Commission (NDPC) to train youth in data protection and privacy. Today, we have gathered to officially ratify another partnership with the National Insurance Commission (NAICOM) to harness opportunities in the insurance sector.
โWith this partnership, we aim to sensitize our youth to the importance of insurance, foster entrepreneurship, and create employment opportunities across all 774 local government areas in Nigeria. Using the power of digital technology, we will educate, inspire, and connect Nigerian youth to careers and opportunities in insurance,” the Minister stated.
Speaking on the target beneficiaries, Olawande noted that the project would focus on Nigerian youth who currently have vocational endeavors, own their businesses, freelancers, GIG workers, and any young person in need of, or interested in insurance cover.
The Minister, thereafter, expressed appreciation to President Bola Ahmed Tinubu, GCFR, for his continuous support for youth initiatives, and especially for approving the Nigerian Youth Academy (NiYA) platform, a project that will be very integral in driving the โOne Million Youths in Insuranceโ Initiative.
The Commissioner of Insurance/CEO, Mr. Olusegun Ayo Omosehin, expressed appreciation to the Ministry of Youth Development and all parties involved in the partnership for their commitment towards the actualization of the project.
He expressed optimism that the partnership would improve the quality of knowledge the youth have about insurance and also assist them in capacity building.