Maryam Aminu
The Federal Government has announced a strategic partnership with the National Insurance Commission (NAICOM) aimed at addressing the country’s youth unemployment crisis by creating one million job opportunities in the insurance sector.
This initiative was formalized through the signing of a Memorandum of Understanding (MoU) between the Ministry of Youth Development and NAICOM in Abuja.
Speaking at the signing ceremony, the Minister of State for Youth Development, Comrade Ayodele Olawande, emphasized that the partnership is designed to equip one million young Nigerians with the skills and knowledge necessary to excel in the insurance industry.
This move is part of the government’s broader strategy to engage the youth in emerging sectors of the economy, including data management, digital literacy, and the creative industries.
“The future of Nigeria rests on the shoulders of its youth, who make up more than 60% of our population,” said Olawande. “Yet, despite the vital role insurance plays in the economy, it remains underutilized among this critical group. Through this partnership, we aim to change that by opening new career paths for young Nigerians in insurance.”
The Minister highlighted that the training program will be hosted on the Nigerian Youth Academy (NiYA), a digital platform launched by President Bola Tinubu earlier this year.
NiYA will offer insurance courses designed to provide youth with the necessary qualifications to connect with industry players, including insurance companies and brokers, across Nigeria’s 774 local government areas.
NAICOM’s Commissioner and Chief Executive, Olusegun Ayo Omosehin, also expressed optimism about the partnership.
He noted that the insurance sector is primed for growth and holds significant employment opportunities for Nigerian youth.
“We have a sector ready for expansion and eager to tap into the dynamism and energy of our youth,” said Omosehin. “Through this collaboration, we will provide essential training that will not only prepare young people for jobs in insurance but also position them to contribute meaningfully to the national economy.”
He added that NAICOM is partnering with the Chartered Insurance Institute of Nigeria to deliver the training, ensuring that participants are well-prepared to meet the industry’s evolving demands.
With over one million jobs expected to be created as a result of this initiative, the partnership is seen as a key step in reducing youth unemployment in Nigeria.
Comrade Olawande reiterated that the current administration is committed to exploring all sectors of the economy to provide meaningful employment opportunities for young Nigerians.
“We are determined to use every available resource, including digital technology, to connect our youth with sustainable careers,” Olawande said.
“This initiative will be a game-changer for our young people, and we will continue to build on it to ensure Nigeria’s youth are empowered and equipped for the future.”
The Federal Government has assured that it will monitor the progress of the program closely to ensure its success and sustainability.
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