N-Power: Nigerians Compare Youth Investment Fund With Famed Scheme

Some Nigerians on social media are juxtaposing the newly-launched Nigeria Youth Investment Fund (NYIF) to the famed N-Power scheme, AllNews reports.

The application portal for the N75bn NYIF is officially opened for registration, AllNews understands.

Youths (18-35 yrs) with business ideas that require funding can apply for N250,000 - N5,000,000, Nigerian authorities say.

The Nigeria Youth Investment Fund application portal is https://nmfb.com.ng/nigeria-youth-investment-fund/.

Nigerian youths via this initiative (i.e Nigeria Youth Investment Fund) can access up to N3 Million Credit Facility, a piece of information on the National Microfinance Bank official website reads.

NYIF was set up as an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria (CBN) to invest in youth ideas to build sustainable businesses that can activate enterprise and increase job opportunities in Nigeria, the FG said.

N-Power: 500, 000 Nigerian youth 'thrown out'

On the other hand, Batch A N-Power beneficiaries exited the programme on June 30 after four years in the famed scheme, while their Batch B counterparts officially made their exit on July 31st - after two years.

Meanwhile, these Nigerian youths - numbering about 500, 000 - are currently in the dark regarding their exit/transition package.

The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development of Nigeria is currently in the process of recruiting Batch C.

N-Power beneficiaries were paid a monthly stipend of N30, 000.

According to some commenters on Twitter, the Muhammadu Buhari-led administration 'do not have a direction'.

READ ALSO: N-Power Stipends: Teacher Writes Buhari Minister

N-Power: See some comments below:

This administration should stop beating about the bush and go for the damn bush.They come up programs without thinking properly on how to sustain those programs;NYIF is the latest now but my question is what happened to NPOWER &how was it that there was no direction &after plan

— Naijacast (@DMKSimag) November 2, 2020

Hmmmm from batch C of npower to Nyif when will our beloved country ever be change for good?

— Akaa joseph (@AkaaJoseph) November 2, 2020

If you fixed Nigeria as you promised, our youths would not be needing your #Npower, #NYIF and similar hand-outs. #EndSARS #KillSocialMediaBill #OyigboIsBleeding https://t.co/ddR3Q5y1XX

— Ọnyedịka #EndSARS ✊ (@foevarr) November 1, 2020

You cant pay Npower beneficiaries, you are bringing up another scheme named NYIF. Okay

— Mazi Dube (@Dube5687) August 12, 2020