In a strategic move to tackle the growing unemployment crisis among Nigerian youths, President Bola Tinubu’s administration has unveiled an ambitious initiative aimed at creating three million new jobs. Known as the 3 Million Technical Talent (3MTT) Programme, this initiative is positioned as a cornerstone of the administration’s broader vision of integrating youth development into Nigeria’s national development strategy.

The announcement was made by the Minister of Information and National Orientation, Mohammed Idris, during the Nigeria Police Youth Summit in Abuja. The summit, themed “Enhancing the Nigerian Youth Value for National Security Intelligence,” served as a platform to discuss the critical role of the youth in national security and economic development.

The 3MTT Programme: A Pathway to Economic Empowerment

The 3MTT Programme, spearheaded by the Federal Ministry of Communications, Innovation, and Digital Technology, is designed to be an incubator for education and skills development. Its primary objective is to enhance the capacity and value of Nigerian youths, particularly in areas that contribute to national security intelligence. By focusing on technical skills, the programme aims to equip young Nigerians with the competencies needed to thrive in the digital economy and contribute to the nation’s security infrastructure.

“The 3MTT Programme is an affirmation of President Tinubu’s vision of factoring youth development into the overall national development strategy. To lay a formidable framework towards achieving this, the administration is also prioritising the economic security of Nigerian youths towards building a more secure and prosperous country,” Minister Idris stated.

This programme is not just about job creation; it is about building a future-ready workforce that can meet the demands of a rapidly changing global economy. The focus on technical skills aligns with global trends, where digital and technical competencies are increasingly becoming essential for economic growth and national security.

The Nigerian Education Loan (NEL) Fund: Supporting Youth Education

In addition to the 3MTT Programme, the Tinubu administration has also introduced the Nigerian Education Loan (NEL) Fund. This initiative is a critical component of President Tinubu’s Renewed Hope Agenda, aimed at making a significant impact on the educational pursuits of Nigerian youth. The NEL Fund provides financial support to students, ensuring that financial constraints do not hinder access to quality education.

Education is a key driver of economic development, and by providing access to education loans, the administration is addressing one of the significant barriers to youth empowerment. The NEL Fund is expected to play a crucial role in equipping young Nigerians with the knowledge and skills necessary to participate in the 3MTT Programme and other economic opportunities.

Addressing the High Cost of Transportation: The CNG Policy

One of the significant challenges facing the Nigerian economy is the high cost of transportation, which has a direct impact on the cost of living and doing business. In response, President Tinubu’s administration has introduced the Compressed Natural Gas (CNG) policy. This policy seeks to leverage Nigeria’s abundant gas resources to reduce transportation costs by up to 70%.

The CNG policy is a strategic move to address the economic challenges posed by high fuel prices and inflation. By promoting the use of CNG as an alternative to petrol and diesel, the administration aims to provide a more affordable and environmentally friendly transportation option. This policy not only has the potential to reduce transportation costs but also to create jobs in the energy sector, particularly in the areas of CNG production, distribution, and vehicle conversion.

The Role of Youth in National Security Intelligence

During the summit, Minister Idris emphasized the critical role of the youth in national security intelligence. He called on young Nigerians to embrace government policies and leverage the opportunities provided by the 3MTT Programme and other initiatives for personal and economic growth.

“The expected renaissance identified with the crucial national security intelligence role for our youths cannot come without the necessary value reorientation. The expected Nigeria’s Values Charter initiated by this administration, spearheaded by the National Orientation Agency (NOA), will serve as a blueprint for a national value system, defining us as Nigerians and strengthening our personalities and roles as citizens,” he added.

The Minister also warned about the national security implications of spreading fake news, disinformation, and misinformation. He highlighted that such actions not only undermine public trust but also pose significant threats to national security, including the potential to incite violence and instability.

A Broader Economic Context: Nigeria’s Unemployment Challenge

Nigeria’s unemployment rate, particularly among the youth, has been a persistent challenge. According to the National Bureau of Statistics (NBS), the unemployment rate stood at 33.3% in the last quarter of 2020, with youth unemployment even higher at 42.5%. The COVID-19 pandemic exacerbated this situation, leading to job losses and business closures across the country.

The 3MTT Programme is a response to this unemployment crisis. By focusing on technical skills development, the programme aims to create sustainable employment opportunities for millions of young Nigerians. This is crucial in a country where the population is predominantly young, with over 60% of the population under the age of 25.

The success of the 3MTT Programme will depend on several factors, including the effective implementation of the programme, the availability of funding, and the willingness of the private sector to collaborate with the government. The government’s commitment to creating an enabling environment for businesses, particularly in the tech and digital sectors, will also be critical.

Leveraging Nigeria’s Digital Economy Potential

Nigeria’s digital economy presents significant opportunities for job creation and economic growth. The country has one of the largest internet user bases in Africa, and its tech ecosystem is among the fastest-growing on the continent. The 3MTT Programme aims to tap into this potential by equipping young Nigerians with the skills needed to thrive in the digital economy.

The Federal Ministry of Communications, Innovation, and Digital Technology has been at the forefront of efforts to promote digital literacy and skills development in Nigeria. The ministry’s initiatives, such as the National Digital Economy Policy and Strategy (NDEPS), are designed to position Nigeria as a leading player in the global digital economy.

By aligning the 3MTT Programme with the objectives of the NDEPS, the government is ensuring that the programme not only creates jobs but also contributes to the broader goal of economic diversification. The focus on digital and technical skills is also in line with global trends, where the demand for such skills is increasing across various industries.

The Way Forward: Collaboration and Stakeholder Engagement

For the 3MTT Programme to succeed, it will require the active participation of various stakeholders, including the private sector, educational institutions, and civil society organizations. Collaboration between the government and the private sector is particularly important, as businesses are the primary employers and have the expertise to provide practical training and mentorship to young Nigerians.

Educational institutions also have a critical role to play in providing the foundational knowledge and technical skills needed for the programme. The government’s efforts to enhance the quality of education through initiatives like the NEL Fund will be crucial in ensuring that young Nigerians are well-prepared to take advantage of the opportunities provided by the 3MTT Programme.

Civil society organizations can contribute by raising awareness about the programme and advocating for the interests of the youth. They can also play a role in monitoring the implementation of the programme to ensure that it achieves its objectives.

Conclusion: A Vision for a Prosperous Future

The 3MTT Programme is a bold and ambitious initiative that reflects President Tinubu’s commitment to addressing the unemployment crisis and empowering Nigerian youth. By focusing on technical skills development, the programme aims to create sustainable employment opportunities and contribute to the broader goal of national development.

However, the success of the programme will depend on effective implementation, adequate funding, and the willingness of various stakeholders to collaborate. If these conditions are met, the 3MTT Programme has the potential to make a significant impact on the lives of millions of young Nigerians and contribute to a more secure and prosperous future for the country.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

15th August, 2024