Home Business Nigerian Youth Investment Fund: over 1m applications received

Nigerian Youth Investment Fund: over 1m applications received

by Kunle Awosiyan
Nigerian youth

Over one Million Nigerians have registered for the 75 billion Naira Nigeria Youth Investment Fund (NYIF) since the Portal opened on October 12, 2020

President Muhammadu Buhari disclosed this in a statement on Sunday evening via his official Twitter handle. According to the statement, the Fund will invest in the innovative ideas, skills and talents of young Nigerians.

Meanwhile the implementation framework released by the CBN last week says the scheme is an initiative of the Ministry of youths and sports development and aims to respond effectively to the youth unemployment challenge in the country.

The framework shows that NIRSAL Microfinance Bank which is the participating financial institution has received a 12.5 billion naira take off seed capital for the program.

The NYIF targets young people between the ages of 18-35 and will financially empower Nigerian youths to generate 500,000 jobs within three years.

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