The Minister for Youth Development, Ayodele Olawande, has announced the official launch of the Inspire, Create, Start, and Scale (ICSS) Grow Fund MSME Financing Scheme in partnership with SMEDAN, Kaduna Business School, the German Cooperation, Jaiz Bank, and other key stakeholders.
The launch of the Grow Fund for ICSS beneficiaries took place on Tuesday at Reiz Continental Hotel, Abuja, as part of efforts to strengthen Nigeria’s enterprise ecosystem and empower the next generation of Nigerian entrepreneurs.
The initiative, powered by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and supported by Jaiz Bank, is described as a strategic move to bridge the funding gap for young business owners across the country.
Speaking at the event, the minister said access to finance remains one of the biggest challenges facing young Nigerians with bold ideas and the energy to build sustainable businesses.
“Many of our young people are prepared to work; what they often lack is structured support and the capital to scale,” he said.
He explained that the Federal Ministry of Youth Development is addressing this challenge through the Nigerian Youth Academy (NiYA), which focuses on expanding access to practical skills, digital capabilities, enterprise development pathways, and startup support.
“At the Federal Ministry of Youth Development, we are tackling this gap through the Nigerian Youth Academy (NiYA), expanding access to practical skills, digital capabilities, enterprise development pathways and startup support. But we need partnership and collaboration to scale up and expand the space of opportunity for a greater number of young Nigerians,” he stated.
According to him, NiYA provides practical skills and digital capabilities, enterprise development pathways, and direct links to responsible financing.
He stressed the importance of collaboration between public and private institutions, noting that when young entrepreneurs are properly trained, structured, and linked to finance, businesses grow, jobs are created, and confidence in youth enterprise increases.
Olawande added that the ICSS Financing Scheme aligns with the broader agenda to prepare young entrepreneurs, connect them to markets, and support them with responsible financing.
“It rewards preparation, recognises discipline, and promotes access based on compelling structure. I commend all partners driving this process and encourage our young entrepreneurs to build carefully, grow sustainably, and create real value. That is how we will change the narrative of youth enterprise in Nigeria under the Renewed Hope Agenda,” he said.
He added that under the Renewed Hope Agenda, the focus is shifting from job seekers to job creators.
