FEC Approves N75bn Youth Investment Fund
The Federal Executive Council on Wednesday approved the sum of N75 billion for the establishment of a Nigeria Youth Investment Fund.
In a statement released by the Minister of Youth and Sport Development, Sunday Dare, said, “The NYIF is to serve as a sort of Youth Bank that will find and support the innovative ideas, skills, talents and enterprise of the Nigerian Youth.
“A loan and credit pathway dedicated to accessing credit and soft loans. This is the very first of any kind by Nigeria government.”
Mr Dare said by approving the establishment of NYIF, the President has demonstrated his unflinching support for the Nigerian youth and his implicit confidence in their innovative talents, potentials, industries.
Dare said President Muhammadu Buhari has fulfilled his assertion that “it is our collective responsibility to ensure that we provide adequate to meet the basic needs our teeming youth.”
