The Federal Government (FG) has significantly revamped the Nigeria Youth Investment Fund (NYIF), infusing it with N110 billion to bolster youth-led businesses.
Dr. Jamila Bio Ibrahim, the Minister of Youth, announced this development during a town hall meeting with South-West youths in Akure on Tuesday.
Since its relaunch, the NYIF has seen over 200,000 applications within just two weeks. The minister emphasized that the fund aims to simplify access to loans for personal and entrepreneurial ventures, thereby boosting financial stability and economic contribution among youths.
Ibrahim also unveiled plans for a National Youth Development Bank to further support youth enterprises and drive economic innovation.
Read also:
- Flood destroys Anambra market goods, billions lost
- First Lady empowers Zamfara market women with N50,000 each
- FG directs Dangote refinery to stick to official market fuel prices
- CAC warns unregistered PoS operators
- Bill Gates warns of economic stagnation in Nigeria
- Nigeria earns N2.7 billion from exports in half-year, NEPC discloses
President Tinubu’s approval of a 30% youth quota in government appointments reflects a strong belief in youth potential. Additionally, new legislation is being drafted to secure youth representation in government roles permanently.
Ondo State Governor Lucky Aiyedatiwa highlighted the crucial role of youth in society, stressing his administration’s commitment to fostering innovation and providing opportunities for growth.
He praised the FG’s policies under the Renewed Hope Agenda for addressing unemployment and inequality and commended the South-West youths for their peaceful stance amid recent tensions.
