We have seen a lot of Nigerians taking Advantage of different kinds of loans initiated by the government to assist Nigerians to run their businesses. Loan such as the CBN COVID-19 support fund, AGSMEIS loan, etc. Do not miss the Nigerian Youth Investment Fund (NYIF)
However, it seems a lot of Npower beneficiaries have not been benefiting from these loans because some of them have refused to grab these opportunities. It is better for Npower volunteers to start taking advantage of funds set aside to assist businesses to grow in Nigeria.
You all know that the federal government plan for disengaged Npower volunteers is to provide them with GEEP loans. Ranging from 50,000 to 100,000 naira as part of the government entrepreneurship scheme transition for Npower batch A and B. Is this GEEP loan enough to start a business? The main reason why you should not put all your eggs in one basket.
The Federal Ministry of Youth and Sports Development has commenced the process on how to open an application portal for Nigerian youths to apply for the Nigerian Youth Investment Fund, (NYIF) approved by the Federal Executive Council on Wednesday, July 22, 2020, for establishment.
The Youth Fund is dedicated to investing in the innovative ideas, skills, talents, and enterprise of the Nigerian Youth and aimed at turning them into Entrepreneurs, Wealth Creators, and Employers of labor contributing to national development. President Buhari led the Federal Government to consider Nigerian youth as a resource to be harnessed and not a problem, hence the initiation of this Fund.
That is why as youths, you as Npower volunteers must not be left out of the Nigerian Youth Investment Fund (NYIF) loan to start expanding your business.
The portal for the loan application will soon open so stay tuned for an update on that.