The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has revealed that each beneficiary of the Nigeria Youth Investment Fund will have access to N250,00 to N5million.
She added that the Federal government created a youth fund of N25bn as part of efforts to address the #EndSARS protests and other related youth restiveness across the country.
She further explained that the amount will be dependent on the business idea, proposal and repayment plan of each benefiting youth, adding that the interest-free loan was expected to be paid back to the government within a period of five years.
However, in an earlier report, Nigeria President, Muhammadu Buhari has stated that since October 12, 2020, when the portal of the N75Billion Nigeria Youth Investment Fund (NYIF) went live, over a million applications have already been received.
Click to read the 10 Key Points About The Nigeria Youth Investment Fund (NYIF). To apply for this fund, see here.