Youth ministry and NAICOM partner to bring one million youths into insurance sector
The Ministry of Youth Development and the Nigerian Insurance Commission (NAICOM) have signed a Memorandum of Understanding (MoU) to attract one million young Nigerians into the insurance sector.
This initiative, themed “One Million Youths in Insurance,” aims to increase youth participation in insurance, create jobs, and promote financial inclusion.
The Minister of State for Youth Development, Ayodele Olawande, announced the partnership on Friday, October 4, during a press conference held at the Ministry’s office in Abuja.
Speaking about the program, Olawande highlighted the need to address youth unemployment and emphasized that the MoU would serve as a guide for efforts over the next year to bring more young people into the insurance industry.
“We understand that the major problem facing the youth is unemployment. This is why, as a Ministry with the responsibility to create opportunities for youth, we are determined to work with every stakeholder to achieve results,” Olawande said.
He added that the project will be hosted on the Nigerian Youth Academy (NiYA) digital platform, which was previously announced by President Bola Tinubu. The platform will offer various courses, enabling participants to gain knowledge and build connections with insurance brokers, companies, and other industry stakeholders.
“Our mission with this project is clear: to increase youth participation in insurance, create jobs, enhance financial inclusion, and ensure that every young Nigerian has peace of mind to pursue their dreams and entrepreneurship,” Olawande stated.
He further explained that the MoU will provide young people with opportunities to connect with the insurance industry and develop skills that are in demand in the financial sector.
The MoU follows a similar agreement signed in September between the Ministry and the Nigerian Data Protection Commission to train 5,000 Nigerian youth in data protection and privacy.
Through these partnerships, the Ministry aims to equip young Nigerians with the skills needed to thrive in various industries, thereby reducing unemployment and enhancing their financial security.
