FG Plans BOI Loans for 26,000 IDEAS TVET Trainees to Boost Youth Employment and Self-Reliance
The Federal Government has announced plans to provide soft loans from the Bank of Industry (BOI) to about 26,000 trainees under the Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) TVET initiative, as part of efforts to reduce youth unemployment and promote self-reliance.
The IDEAS Technical and Vocational Education and Training (TVET) project is a World Bank-supported initiative focused on strengthening Nigeria’s Technical and Vocational Education and Training system and equipping young people with practical and employable skills.
The National Project Coordinator for the IDEAS project, Mrs Blessing Ogwu, disclosed this during a visit to Wavecrest College, Surulere, Lagos. Officials of the Federal Ministry of Education and representatives of the World Bank met with trainees undergoing Technical and Vocational Education and Training at the institution.
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Ogwu explained that the ministry is working towards a partnership with the BOI to secure soft loans for trainees after graduation, so they can expand and sustain their businesses.
“At the end of the programme, the federal ministry plans to give the trainees starter packs. We are training them not to roam the streets in search of government jobs but to become self-reliant,” she said.
“The ministry is also engaging with the Bank of Industry to ensure they receive soft loans with which they can do something meaningful.”
She encouraged the trainees to take the programme seriously, describing it as a major investment by the government.
“If the Federal Government can take loans to train Nigerians, then the trainees must take it seriously because it will earn them a living. The goal is to reduce youth unemployment,” she added.
Ogwu revealed that the current batch includes about 26,000 trainees. She noted that a previous cohort had 14,000 participants, while the pilot phase trained 1,050 individuals.
According to her, the six-month programme for the present batch began on January 12, 2026, while Batch One started on October 12. She also disclosed that another cohort of about 30,000 trainees is expected before the end of March.
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