Naira Slide: NEPC Rallies Youths to Boost Capital Inflows

James Emejo in Abuja

Determined to firm up the Naira amid current vulnerabilities, the Nigerian Export Promotion Council (NEPC) has mobilised youths into the non-oil export business.

The council said rallying the youths to actively participate in exports will among other things curb youth restiveness, generate employment and the scarce foreign exchange, thereby helping to strengthen the local currency moving forward.

Speaking at the official inauguration of the Youth for Export Programme (YEP) in Abuja, Executive Director, NEPC, Dr. Ezra Yakusak, pointed out that the objective was to link the youths to experienced exporters so they could be engaged in formal export.

He told THISDAY that the programme would engage about 2,000 youths every year and prepare them to export, adding that the initiative would lead to an increase in foreign exchange earnings.

He said, “At the end of the day, what we want to achieve is to curb this issue of youth restiveness, generate employment and of course, generate the needed foreign exchange.

“What is happening to the naira is not right and so we will do everything possible to ensure that we curb that trend. That is the essence of this programme and at the end of the day, the economy will be better for it and our non-oil export performance will increase drastically.”

Yakusak noted that about 60 per cent of the country’s population was made up of vibrant youths which should ordinarily be a catalyst for economic growth and development.

However, he expressed worry that Nigeria has not been able to properly harness the strength and skills of its growing youth population to accentuate socio-economic growth.

He said while some countries have leveraged on their increasing youth population to grow their economies through deliberate policies and strategies targeted at integrating youth businesses into the national economic programmes, the reverse had been the case in Nigeria.

This, he said, explains why the government needed to manage the mass migration of youths from Nigeria to other parts of the world by curbing the “Japa syndrome”.

The NEPC boss stressed that the country’s future depended on its ability to harness and invest in human capital development and provide sustainable economic opportunities for the youths.

He said in the non-oil export space, Nigerian youths have been faced with daunting challenges militating against their efficacious performance in international trade.