Wednesday, July 22, 2020

Youth Bank - FG Approves Establishment Of Nigeria Youth Investment Fund Of N75B

The President Buhari-led Federal Executive Council today approved the establishment of the Nigeria Youth Investment Fund (NYIF), to the tune of 75 billion naira for 3 years, following a memo presented by the Minister of Youth and Sports Development.

The NYIF is to serve as a sort of Youth Bank that will fund and support innovative ideas. skills. talents and enterprise of the Nigerian Youth; a loan and credit pathway dedicated to enabling access to credit and soft loans. This is the very first of its kind by any Nigerian government.

By approving the establishment of the NYIF, President Buhari has demonstrated his unflinching support for the Nigerian Youth, and his implicit confidence in their innovative talents. potentials and industry.

NYIF will accelerate Nigeria's investment in the ideas of her youth.

President Muhammadu Buhari has with this fulfilled his assertion that "it is our collective responsibility to ensure that we provide adequate resources to meet the basic needs of our teeming youth."

Nigerian Youth thanks Mr. President.

STATEMENT BY MINISTER OF YOUTH AND SPORTS DEVELOPMENT

Sunday Dare
Honorable Minister of Youth and Sports Development Abuja, Nigeria
July 22, 2020

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