Federal Government to Secure Bank of Industry Soft Loans for 26,000 TVET Trainees Under World Bank-Backed IDEAS Project

The Federal Government has announced plans to facilitate access to low-interest financing from the Bank of Industry for approximately 26,000 beneficiaries currently undergoing training under its Innovation Development and Effectiveness in the Acquisition of Skills project.

The IDEAS initiative, supported by the World Bank, is designed to strengthen Nigeria’s Technical and Vocational Education and Training system and drive sustainable job creation through skills acquisition and entrepreneurship development.

The National Project Coordinator of IDEAS, Mrs Blessing Ogwu, disclosed this during an official visit to Wavecrest College in Surulere, Lagos. The visit involved representatives from the Federal Ministry of Education and the World Bank, who engaged with trainees enrolled in hospitality-focused vocational programmes.

According to Ogwu, the partnership with the Bank of Industry is aimed at ensuring that graduates of the programme can access affordable credit facilities to expand their businesses after completing their training. She added that participants would also receive starter packs at the end of the programme to enable them to launch small-scale enterprises immediately.

She emphasised that the initiative is structured to promote self-employment rather than dependence on limited public sector jobs. By equipping young Nigerians with industry-relevant skills and access to startup capital, the government intends to accelerate youth empowerment and reduce unemployment across the country.

Ogwu revealed that the current batch comprises about 26,000 trainees nationwide. A previous cohort had 14,000 participants, while the pilot phase trained 1,050 beneficiaries. The six-month programme commenced on January 12, 2026, with Batch One having started earlier on October 12. Another cohort of roughly 30,000 trainees is expected to be onboarded before the end of March.

She noted that the Federal Government has allocated substantial budgetary resources to Technical and Vocational Education and Training, alongside financial and technical support from the World Bank to expand access and improve quality. At present, over 400 training centres are operating under the IDEAS project, while more than 3,000 TVET centres are running nationwide under the ministry’s broader framework.

In her remarks, Scherezad Latif, Practice Manager for Education for West and Central Africa at the World Bank, described Nigeria’s education portfolio as one of the institution’s largest in the region. She stated that the visit was conducted to assess the progress of the minister’s TVET reforms and the IDEAS implementation.

Latif commended the structure and delivery model observed at Wavecrest College, describing it as a strong example of hospitality and service-sector training aligned with labour market demands. She expressed satisfaction with the trainees’ motivation and clarity of career goals.

The Deputy Provost of Wavecrest College and National Skills Qualification Project Coordinator explained that the programme integrates classroom instruction with practical training tailored to the hospitality industry. Modules include catering and hospitality management, food production, food service operations, front office administration, customer service and housekeeping management.

She noted that the curriculum follows the National Skills Qualification framework, combining theoretical knowledge, hands-on practice, mentorship and life skills development to prepare participants for both paid employment and business ownership.

One of the trainees, Ihedioha Ifeanyichukwu from NSQ 2026 Batch A, said he applied after seeing an online advertisement and was selected following a physical screening process. He expressed confidence that the training would position him for management-level opportunities in top-tier hotels and potentially enable him to establish his own hospitality brand.

He added that the programme includes a three-month internship, which provides real-world exposure and opportunities for retention by host organisations. According to him, participants are determined to maximise the opportunity provided by the Federal Government and its development partners.

The IDEAS project represents a strategic investment in skills acquisition, SME financing and youth entrepreneurship in Nigeria. By linking technical training with starter kits and Bank of Industry soft loans, the Federal Government aims to create a pipeline of skilled professionals and small business owners capable of driving economic growth, increasing productivity and reducing unemployment nationwide.