FG Picks Nigerian Youths for Massive Investment Fund, Lists Conditions for Clearance

FG Picks Nigerian Youths for Massive Investment Fund, Lists Conditions for Clearance

  • At least 10,000 Nigerian youths will be benefitting from the Nigeria Youth Investment Fund (NYIF)
  • This was made known to journalists on Tuesday, October 12, by the ministry of sport and youth development
  • The ministry in its latest report disclosed that the funds will be in form of loans ranging from N250,000 to N3 million

The federal ministry of sports and youth development has announced that not less than 10,000 young Nigerians will benefit from its Nigeria Youth Investment Fund (NYIF).

This was made public by Kola Daniel, the media aide to the minister, Sunday Dare, on Tuesday, October 12, Nigerian Tribune reports.

President Muhammadu Buhari
This is one of the goodies Buhari's government have for Nigerian youths (Photo: Aso Rock Villa)
Source: Facebook

Daniel in a statement released on Tuesday noted that the NYIF at the moment loans approved for beneficiaries who will undergo training are in the range of N250,000 to N3 million.

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The media aide stated:

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“With the successful completion of this pilot phase, NIRSAL has cleared names of another ten thousand (10,000) for training and subsequent loan approval and disbursement. Loans are in the range of two hundred and fifty thousand (N250,000) to three million naira(N3,000,000) for now..."

He further disclosed that among parameters used for screening the youths before they were listed as beneficiaries are:

  1. Age
  2. Possession of BVN
  3. Whether or not candidates are benefitting from an existing government loan
  4. Whether or not candidates had earlier received Covid-19 business payments

Buhari asks young Nigerians to take advantage of N75 billion investment fund

Meanwhile, Nigerian youths had been urged to take advantage of the recently established investment fund.

The call was made by President Muhammadu Buhari on his Twitter page on Wednesday, August 12. Buhari made the call on the occasion of 2020 international youth day.

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The president said:

"We recently established a 75 billion Naira Nigerian Youth Investment Fund (NYIF), as part of our commitment to creating opportunities for the youth of Nigeria. On this occasion of International Youth Day, I urge all our young people to take advantage of these opportunities."

Also, president of the Senate Ahmad Lawan has felicitated the Nigerian Youth on the occasion of International Youth Day.

Lawan in a statement by his special adviser on media, Ola Awoniyi in Abuja said that the youth deserved special attention as a vulnerable group and as the future of the nation.

He said that the day was set aside by the United Nations to draw attention to issues concerning youths at the community, national and global levels.

Source: Legit

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