Abuja opens youth fund as officials link jobs crisis to skills gap

The Abuja Enterprise Agency (AEA) and Abuja Investment Company Limited (AICL) have launched the second edition of the Abuja Young Entrepreneurs Competition, with officials saying the initiative is designed to confront youth unemployment and weak enterprise capacity in the Federal Capital Territory (FCT). Managing Director/Chief Executive Officer of AEA, Mr. Chudi Ugwuada-Ezirigwe, said the programme […]

The Abuja Enterprise Agency (AEA) and Abuja Investment Company Limited (AICL) have launched the second edition of the Abuja Young Entrepreneurs Competition, with officials saying the initiative is designed to confront youth unemployment and weak enterprise capacity in the Federal Capital Territory (FCT).

Managing Director/Chief Executive Officer of AEA, Mr. Chudi Ugwuada-Ezirigwe, said the programme was created to provide a structured pathway for young people to convert ideas into viable businesses, amid concerns that many graduates remain without direction after school.

“The whole idea behind the Abuja Young Entrepreneurs Competition is to make available a platform for young persons who aspire to be innovative, creative and self-sufficient,” he said.

He said the initiative reflects a growing recognition that government interventions alone cannot address unemployment without citizen participation.

“Government is working, but progress is about partnership. Young people must also take responsibility and engage opportunities that are created for them,” he added.

Ugwuada-Ezirigwe said the competition targets youths between the ages of 18 and 35, with focus on three sectors — ICT, creative industries, and agriculture — which he described as critical to economic expansion in the FCT.

He said the application portal opened at midnight and will run across multiple platforms, including media channels, to ensure wider access.

“The programme was designed intentionally as a tailored intervention to target specific areas where young people already have skills but lack structure and support,” he noted.

He said the organisers were building on the outcome of the first edition, which he described as transparent, adding that the second edition would be “bigger, better and more rewarding.”

The AEA boss also addressed concerns over the involvement of an investment agency in youth-focused programmes, insisting that human capital development remains central to economic growth.

“If you have all the assets and you don’t have the human resource component to sustain them, then investment is likely to go out of place,” he explained.

He said the initiative aligns with broader efforts to position Abuja as a destination for investment while strengthening local capacity to sustain economic activity.

Representing the Group Managing Director of AICL, Ambassador Maureen Tamuno, the Chief Investment Officer, Dr. Abiodun Akanbi, said the programme was part of a deliberate strategy to deepen entrepreneurship and stimulate job creation.

“This programme is an intentional investment for the future. It is designed to empower young entrepreneurs, create new ideas and generate jobs,” he said.

He said while Nigerian youths possess innovation and resilience, structural gaps continue to limit their ability to scale ideas.

“Talent alone is not enough. This programme serves as an enabler for young people to turn their ideas into businesses,” he added.

Akanbi said participants would receive mentorship, training, and access to tools needed to refine their business models, as well as opportunities to pitch to investors.

He linked the initiative to improvements in the FCT business climate, noting that Abuja has moved from 31st position to fourth in the Ease of Doing Business Index.

“These milestones show that efforts are being made to reduce barriers for businesses, but the challenge now is to sustain and improve on that ranking,” he noted.

He said one of the major gaps identified in the investment ecosystem is the lack of aftercare for investors, adding that AICL would collaborate with agencies like AEA to address the problem.

“When investors come, there must be support systems to ensure they succeed. Without that, progress cannot be sustained,” he explained.

Also speaking, winner of the previous edition, Fatima Bello Suleiman, said the programme changed her trajectory, moving her from self-doubt to professional visibility.

“I came here not really believing in myself, but the platform gave me the opportunity to see a bigger picture,” she said.

She said the competition opened doors for her, including her current role as a consultant with the University of Abuja’s entrepreneurship department.

“They didn’t just give me a title. They gave me opportunities to be seen, to be heard, and to connect,” she added.

Organisers said registration for the competition will close on May 13, with expectations that the programme will attract a new cohort of young entrepreneurs seeking to build sustainable ventures.