(Ecofin Agency) - As part of efforts to bridge the skill gap and solve the challenges of inadequate financial backing in Nigeria, the New Partnership for Africa’s Development (NEPAD) has revealed plans to invest €35 million in five African countries including Nigeria.

The other four countries are Tunisia, Algeria, Cameroon and South Africa.

Speaking at a two-day stakeholders’ meeting in Abuja, Estherine Fotabong (photo), the NEPAD Director of programme implementation and coordination, revealed that the funds are to benefit youths from rural areas “especially the less-privileged.” “They will not just be trained but equipped with managerial ability to coordinate their skills and businesses. Applicants will be guided and supported with information and material; projects will be selected by a NEPAD-led investment committee. Implementation agreement will be concluded between the applicant and NEPAD,” she added.

Speaking in the same vein, Gloria Akobundu, the National Coordinator of NEPAD Nigeria, said the agency had kicked-off the process of boosting skill acquisition and addressing unemployment in the country.

According to her, the initiative will extend from 2017 to 2020.

Anita Fatunji