On Sunday August 6, 2023, the federal government announced a collaboration with Wema Bank to set up digital hubs for micro, small, and medium enterprises (MSMEs) in seven states.

Vice President Kashim Shettima revealed this development in a statement issued by Olusola Abiola, the Director of Information in his office. Shettima stated that the digital hubs are designed to equip one million young individuals with valuable digital skills.

He further explained that this initiative emerged from discussions between the vice president and representatives from Wema Bank. The endeavor aligns with the government's dedication to generating digital employment opportunities for the nation's youth.

The statement read: “The centres to be known as FGN/ALAT Digital and SkillNnovation Hub will open first in Lagos and Borno states, with Katsina, Cross River, Anambra, Oyo, and Kano, to follow afterwards.

”They will be run in partnership with a leading financial institution in Nigeria, WEMA Bank. The strategic objectives of the programme include to empower young entrepreneurs by providing them with tailored financial products, training and support to enable them build sustainable businesses that will support the growth of Nigeria’s economy.

“Other objectives include: supporting tech-savvy youths with keen interest in digital innovations and aspire to drive technological advancements, by providing them with financial solutions, training and access to strategic partnerships; and empowering young employees to become an integral part of the workforce in Nigeria, especially those deployed through the NYSC.”

One million young people would gain from software engineering, product design, and other digital skills, according to the vice president, while 500,000 SMEs would receive business development mentoring.

“FGN/ALAT Digital and SkillNnovation Hub, positioned to serve as a centralized platform to provide cutting-edge digital skills, mentorship and networking opportunities, is targeted at tech-savvy youths and young entrepreneurs in Nigeria.

“The focus is on promoting entrepreneurship, skills development and the integration of young employees in the workforce, particularly getting one million youths employed in the digital economy and upskilling SMEs who can directly add value to the country’s economy.

“In training, 1 million young adults will be trained in software engineering, product management, business analysis, cloud computing, product design, using a specialized curriculum designed for the FGN/ALAT Digital and SkillNnovation Hub.

“In mentorship, 500,000 SMEs across Nigeria will be mentored by experts while coaches will train and upskill them for business growth and quantum leap.

“Under the scheme grants will be provided under a collaborative arrangement between the federal government and WEMA Bank, setting aside N500 million to be given to SMEs and techprenuers,” he stated further.