NYIF: 500 MSMEs Beneficiaries of the Nigeria Youth Investment Fund Revealed

NYIF: 500 MSMEs Beneficiaries of the Nigeria Youth Investment Fund Revealed

Contrary to the belief that Youths have not benefited from the Nigeria Youth Investment Fund (NYIF) powered by the Federal Ministry of Youth and Sports Development (FMYSD), investigations have revealed some Micro, Small and Medium Enterprises (MSMEs) in the region of over 5000 have benefited from the scheme approved by President Muhammadu Buhari, last year.

NYIF: 500 MSMEs Beneficiaries of the Nigeria Youth Investment Fund Revealed

The Nigeria Youth Investment Fund (NYIF) is an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) funded by the Central Bank of Nigeria (CBN). It is a N25bn fund for 3 years totalling 75bn, aimed at investing in the innovative ideas, skills and talents of Nigerian youth from age 18-35.

NYIF: 500 MSMEs Beneficiaries of the Nigeria Youth Investment Fund Revealed

NYIF aims to financially empower Nigerian Youth to generate at least 500,000 jobs between 2020 and 2023.

CBN and NIRSAL handled the pilot disbursement to about 5285 Beneficiaries.

Over 3 million applications and more are being processed.

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The chart obtained from our source at the Ministry show a list of 500 out of the 5,285 beneficiaries so far. It will be recalled that the Ministry announced over a week ago that another 10,000 have been shortlisted for training after which they will be approved for funds disbursement.

500 youth-owned MSMEs that benefited from NYIF

A detailed perusal of the 5,285 beneficiaries can be seen on the website www.youthandsport.gov.ng or Noya.ng.

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Source: Legit

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