The N75b Nigeria Youth Investment Fund (NYIF) portal is now open for applicants.
AllNews understands that the NYIF announced the take-off of the fund today amid ongoing agitation campaign to #EndSARS and #EndSWAT.
Public Announcement:— Nigerian Youth Investment Fund (@NYIF_NG) October 13, 2020
The application portal for the Nigeria Youth Investment Fund, #NYIF is officially open for registration.
Youth with business ideas that requires funding can apply for the fund through the following link:https://t.co/rQcfq5rJdi pic.twitter.com/hYN9DQ6QxK
“We appreciate your recent actions against oppression and Brutality. However, while you’re fighting for the right course, Do not forget that Registration for the Nigerian Youth Investment fund which ₦75Bn was awarded to is ongoing.
“Kindly Register that your business or idea to get it funded by the CBN as we push to make a positive impact on our economy through your youthful strength and energy”.
Dear Nigerian Youth,— Nigerian Youth Investment Fund (@NYIF_NG) October 14, 2020
We appreciate your recent actions against oppression and Brutality. However, while you're figting for the right course, Do not forget that Registration for the Nigerian Youth Investment fund which ₦75Bn was awarded to is ongoing. #EndSWAT #NYIF #sorosoke
This online news platform learnt that President Buhari and the Federal Executive Council approved the fund to help the realization of the business ideas of Nigeria’s teeming youthful population.
In approving the fund, Buhari considered Nigerian youth as resources to be harnessed and not a problem.
“The Fund will serve as a catalyst to unleash the potential of the youth and enable many of them build businesses that will employ and in turn empower others”, said Gabriel Aduda, the Permanent Secretary, Federal Ministry of Sport and Youth Development.
“A multiplier effect of economic expansion and growth required to thrive in an increasingly competitive and connected world where adding value is the only sustainable pathway to success is expected to be achieved,” Aduda said in the preliminary information about the fund.
According to him, a minimum of N25 billion each year in the next 3 years, totaling N75Billion will be required to ring-fence the NYIF.
“For the remaining part of 2020, an initial sum of N12.5 billion will be needed to kick start the NYIF. It is expected that successive governments will keep the Fund, akin to a Youth Bank, alive.
Click the link below to apply;