In a strategic move to harness the innovative potential of its youth and drive economic transformation, Nigeria’s Ministry of Innovation, Science, and Technology has unveiled the Innovations in Science, Technology, Engineering, and Policy (iSTEP) Programme. This initiative is designed to empower young innovators and foster sustainable economic growth across the nation.
Programme Overview
The iSTEP Programme aims to provide training and certification to 10,000 innovators spanning 200 local government areas over the next two years. This ambitious plan aligns with President Bola Tinubu’s Renewed Hope Agenda, emphasizing job creation, economic diversification, and inclusive development.
Key Objectives
One of the primary goals of iSTEP is to support the establishment of 2,500 youth-led innovative enterprises, thereby contributing to Nigeria’s economic growth and enhancing its global competitiveness. Additionally, the programme seeks to create 5,000 new jobs, addressing the pressing issue of unemployment among the nation’s youth. By providing opportunities for young Nigerians to engage in innovation-driven businesses, iSTEP aims to foster sustainable economic development.
Strategic Partnerships
The official inauguration of the iSTEP Programme was marked by the signing of a Memorandum of Understanding (MoU) between the Ministry of Innovation, Science, and Technology and the Humanity Advancement Innovation Network (HAIN) in Abuja. This partnership underscores the government’s commitment to collaborating with key stakeholders to ensure the programme’s success.
Complementary Initiatives
The iSTEP Programme complements other government efforts aimed at youth empowerment and economic development. For instance, the National Youth Investment Fund (NYIF) was revitalized with an approval of N110 billion for the 2024 fiscal year, serving as a cornerstone for youth empowerment. The NYIF provides financial support through loans, grants, and equity investments, as well as non-financial support such as mentorship, training, and business development services. Its goal is to support Nigerian youths with innovative businesses and ideas, create jobs, and promote economic growth.
Government’s Vision
President Bola Ahmed Tinubu has articulated a vision of Nigeria harnessing the potential of its youthful population to transform into a global digital economy powerhouse. The government plans to build a vast digital market capable of absorbing cutting-edge innovations and technologies, positioning the country as a hub for outsourcing talent in the digital and creative economy spheres.
Conclusion
The launch of the iSTEP Programme signifies a pivotal step in Nigeria’s journey toward economic transformation. By investing in youth-driven innovation and fostering strategic partnerships, the nation is poised to unlock new opportunities for sustainable development and global competitiveness.
