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Empowerment: Buhari Approves N75bn Youth Investment Fund

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The Minister of Youths and Sports, Mr Sunday Dare, confirmed that President Muhammadu Buhari’s led government has approved the establishment of a N75bn youth investment fund.

The minister revealed that the resolution was reached on during the virtual meeting of the Federal Executive Council (FEC) which was headed by the President on Wednesday, July 22.

Speaking to newsmen at the State House after the meeting, Dare noted that the fund which he described as “youth bank” was targetted at creating massive enterprise among no less than 68 million youths in the country.

Naija News understands that the enterprise boost will only be enjoyed between people of age 18 to 35.

“youths within this age group with genuine business ideas would pitch their ideas in any of the 125 microcredit banks across the country,” said Dare.

According to the minister, only qualified candidates would have access to the funds.

He added, “For the first time in the history of Nigeria, the Federal Executive Council today approved the establishment of the Nigerian Youth Investment Fund to the tune of N75bn.

“This fund is meant to create a special window for accessing credit facilities and financing on the part of our youths that will help to fund their ideas, innovations and also support their enterprise.

“The best way to call it is that for the first time, the country will have a youth bank. A fund that will cater specifically for our youths within the stipulated age band, which is going to be between 18 and 35 years.”

Meanwhile, Naija News reported earlier that, a bill sponsored by the Senator representing Imo West Senatorial district, Rochas Okorocha, on Wednesday, passed the first reading on the floor of the senate.

The bill was targeted at extending free and compulsory education programme from the Junoir Secondary School 3 to the Senior Secondary School 3.

A content writer, journalist, graphic designer, and Gospel Music Minister. Playing football is Richard's main hobby.