Federal Government, EU, UN launch The Jubilee Fellows Fund

The Federal Government, with financial support from the European Union (EU) and in collaboration with the United Nations Development Programme (UNDP), has launched the Jubilee Fellows Fund, an innovative financing instrument that will enable a diverse set of stakeholders to support the roll-out and implementation of the Nigeria Jubilee Fellows Programme (NJFP). Launched in August 2021, the NJFP is a government led youth employment initiative that will place 20,000 young Nigerians graduates annually with one-year paid work placements in private and public sector companies across the country. 

There is critical need for diverse support and resource mobilization, beyond traditional public finance and international aid, to achieve the Sustainable Development Goals and address some of the country’s biggest challenges, like youth unemployment. The Jubilee Fellows Fund provides an opportunity for a wide range of stakeholders, including private sector, start-ups, foundations, international financial institutions, philanthropists and multilateral and bilateral donors to contribute funding towards the implementation of the NJFP, helping to provide a solution to the high rate of unemployment of young people across the country. 

“Youth unemployment continues to be one of the most ardent challenges facing Nigeria today. The Federal Government is working tirelessly to reduce unemployment through various policies that support existing businesses, encourage start-ups and build an efficient workforce.”, His Excellency, Prof. Yemi Osinbajo, Vice President of Nigeria declared in his written remarks. “It is my firm belief that the Jubilee Fellows Programme will provide a template for empowerment across the continent. It is a true testament to how collaboration between government, development partners and the private sector should work.”

In attendance at the high-level launch event in Abuja today was Mrs. Margrethe Vestager, Executive Vice President, European Commission; the Honourable Minister of Industry, Trade and Investment Mr. Otunba R. Adenyi Adebayo who represented His Excellency, Prof. Yemi Osinbajo, the Vice President of Nigeria; the Honourable Minister of State, Budget and Planning, Mr. Prince Clem Ikanade Agba; Her Excellency Samuela Isopi, Ambassador at the Delegation of the European Union to the Federal Republic of Nigeria & ECOWAS; Mr. Matthias Schmale, United Nations Resident and Humanitarian Coordinator (a.i), United Nations in Nigeria and Mr. Mohamed Yahya, Resident Representative, UNDP Nigeria.

Ambassadors and high-level representatives from the United States, United Kingdom, Japan and Norway as well as EuroCham Nigeria and private sector leaders, were also present at the launch event.