President Muhammadu Buhari has approved the establishment N75 billion Nigeria Youth Investment Fund (NYIF).
According to a statement signed by the Minister Of Youth and Sports Development, Sunday Dare, “Federal Executive Council (FEC) approved the establishment of the Nigeria Youth Investment Fund (NYIF) to the tune Of 75 billion naira for 3 years, following a memo presented by the Minister Of Youth and Sports Development.
“The NYIF is to serve as a sort of Youth Bank that will fund and support the innovative ideas, skills, talents and enterprise of the Nigerian Youth: a loan and credit pathway dedicated to enabling access to credit and soft loans. This is the very first of its kind by any Nigerian government.
“By approving the establishment of the NYIF, President Buhari has demonstrated his unflinching support for the Nigerian Youth, and his implicit confidence in their innovative talents, potentials and industry, NYIF will accelerate Nigeria’s investment in the ideas of her youth, President Muhammadu Buhari has with this fulfilled his assertion that it is our collective responsibility to ensure that we provide adequate resources to meet the basic needs of our teerning youth.”