The Federal Government Plans to Train 100,000 Young Nigerians Every Year in Forex Trading
The Federal Government of Nigeria has announced a new program to train 100,000 young Nigerians each year in foreign exchange (Forex) trading. Forex trading involves buying and selling different currencies to make a profit. This program is part of a larger plan to reduce youth unemployment and help more Nigerians gain financial knowledge and opportunities.
The government has partnered with Investonaire Academy, a training organization, to make this program possible. On Tuesday, both sides signed an official agreement called a Memorandum of Understanding (MoU) in Abuja. Omolara Esan, the Director of Information and Public Relations at the Federal Ministry of Youth Development, explained that this program shows President Bola Tinubu’s government is serious about helping young people succeed.
The training will teach young Nigerians important skills in Forex trading, risk management (how to avoid losing money), and financial planning (how to manage money wisely). These skills will help them work in the global financial market and earn a good income.
Forex Training Will Create Jobs and Improve Financial Knowledge
Dr. Enefola Odiba, the International Programme Director at Investonaire Academy, spoke about the benefits of the program. He said that teaching young people about Forex trading will create job opportunities. He also explained that many young Nigerians struggle with money problems because they lack financial education and digital skills. This program will help solve that problem.
He said, “Young people are the future of any country. When they have the right skills, they can create new ideas, start businesses, and help the economy grow. This training program will unlock the potential of Nigeria’s youth.”
Dr. Odiba also mentioned that the Forex training supports the government’s bigger goals, such as increasing digital skills, diversifying the economy (not relying only on oil), and teaching new, modern skills.
Youth Unemployment is a Major Problem in Nigeria
Many young Nigerians struggle to find jobs. According to the National Bureau of Statistics, the unemployment rate for young people aged 15-24 was 8.6% in the third quarter of 2023. While this is lower than the peak of 53.4% in 2020, unemployment is still a big issue.
Other problems include underemployment (people working but not earning enough) at 12.3% and the NEET rate (young people who are not working, not in school, and not learning any skills) at 13.7%. The government hopes that Forex training will help reduce these numbers by giving young people useful skills.
Government Officials Praise the Program
The Minister of Youth Development, Ayodele Olawande, spoke at the signing ceremony. He said this partnership with Investonaire Academy is a big step toward empowering young Nigerians. The program will not only teach Forex trading but also help young people develop digital skills, think critically, and take advantage of global opportunities.
He said, “This program is not just about trading money. It is about teaching our youth to be smart, use technology, and create wealth for themselves and Nigeria.”
The Minister also said that this kind of training will help young people become financially independent and strong, even when the economy is unstable. He praised Investonaire Academy for supporting youth development.
He added, “This agreement is not just for show. We will make sure it produces real results that improve the lives of young Nigerians.”
The Ministry promised that the training program will be transparent (no corruption), high-quality, and will truly help young people compete in the global economy.
Government Also Launches Free AI Training
In addition to the Forex program, the Federal Government has also started a free Artificial Intelligence (AI) Academy through the Ministry of Innovation, Science, and Technology. This program began in December and aims to make Nigeria a leader in the digital economy.
The government plans to train Nigerians in AI skills through the Commonwealth AI Academy, supported by Intel. The Commonwealth Artificial Intelligence Consortium (CAIC) is a group of countries working together to use AI to help their economies and young people. Nigeria is part of this group, which aims to support 1.5 billion young people under age 30 in Commonwealth nations.
