Excitement As FG Announces New Plans To Give Funds To Nigerian Youths For Business

The federal government of Nigeria is set to roll out fresh opportunities for youths in the country to access funds for their business ideas.

This is as government disclosed that as from next week, youths will be able to apply to receive funds through a new initiative known as the Nigerian Youth Investment Fund (NYIF).

This development was disclosed on Saturday, 3rd October by the Minister for youths and sports development, Mr. Sunday Dare via a statement on his Twitter account.

According to the Minister, the government is rolling out the new initiative to provide support in the hope that the funds can turn the Nigerian youths into entrepreneurs and wealth creators.

The Nigerian Youth Investment Fund is an initiative of the federal ministry of youths and sports development while the initiative will be funded by the Central Bank of Nigeria (CBN).

Next week it is our plan to commence the application process for Nigerian Youth to begin to apply for the NYIF baring any hitches. The Govt is eager to provide our youth with this support that will turn them into Entrepreneurs and wealth creators. pic.twitter.com/bGVJ84llwu

— Sunday Dare (@SundayDareSD) October 3, 2020

The Minister wrote: “Next week it is our plan to commence the application process for Nigerian Youth to begin to apply for the NYIF baring any hitches. The Govt is eager to provide our youth with this support that will turn them into Entrepreneurs and wealth creators.”

Naija News recalls the Minister had previously disclosed that the federal government led by President Muhammadu Buhari plans to create one million jobs for unemployed youths.

The Minister added that plans are already in the pipeline to make the jobs available before the end of October.

Dare made the submission on Friday, 2nd October 2020 at a programme organized as part of activities marking Nigeria’s 60th independence anniversary celebration.

The event, which was a youth technology, entrepreneurial, and art exhibition organized by the federal ministry of youth and sports development in partnership with I Choose Life foundation, a non-governmental organization, had as its theme ‘My Nigerian Dream’.

According to the youths and sports Minister, his ministry is already collaborating with other ministries to make the job creation a reality.

The Buhari administration had always insisted that it plans to lift 100 million Nigerians out of poverty in 10 years through its various programmes and policies.

Recently, Hajiya Sadiya Umar Farouq, Nigeria’s Minister for Humanitarian Affairs, Disaster Management, and Social Development has stated that President Muhammadu Buhari remains committed to his vision of lifting 100 million Nigerians out of poverty in 10 years.

The Minister reiterated this while speaking on Thursday 3rd September 2020 during an interactive meeting with the focal persons of the Federal Government’s National Social Investment Programmes, also known as the NSIP’s.

Naija News reports that the Federal Government of Nigeria established the National Social Investments Programmes (NSIP) in 2016, to tackle poverty and hunger across the country.

Programmes under the NSIP include the Npower programme, the Conditional Cash Transfer (CCT) programme, Government Enterprise and Empowerment Programme (GEEP) and the Home Grown School Feeding Programme (HGSF).