Full details of the N75bn youth investment fund approved by FEC

Youth Investment Fund
Please check your E-mail inbox or spam to confirm.

Today, Wednesday, The Federal Executive Council, FEC approved the sum of N75 billion for the establishment of a Nigerian Youth Investment Fund.

JOIN US FOR MORE ON:
or

The fund which is dedicated to creating a special window for accessing credit facilities and financing on the part of our youths will help fund ideas, innovations and also support enterprises.

Briefing State House correspondents after the 9th virtual meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja, the Minister of Youths and Sports Development, Sunday Dare explained that the special fund will be for youths within the age bracket of 18 and 35.

According to him, “For the first time in the history of Nigeria, the Federal Executive Council today approved the establishment of the Nigerian Youth Investment Fund (NYIF) to the tune of N75 billion.

“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 youth within the stipulated age band, which is going to be between 18 and 35 years.

“The second approval that secured was for the Ministry of Youth and Sports Development to play a lead role in working on necessary steps that need to be taken in terms of legislation, organisation and other aspects of financing.”

He said that the Federal Ministry of Finance, Budget, and National Planning will take the lead when it comes to the aspect of the financing, working with the Central Bank of Nigeria, CBN, the Ministry of Youth and Sports Development and other relevant Ministries, Department and Agencies, MDAs.

He said,

“A couple of other details will be released later, but I think the most important thing is that the N75 billion Nigerian Youth Investment Fund, to cater specifically for this target group, a population of over 68 million, got the attention and support of the Federal Executive Council today and this fund will be assessed by our youths, once they are able to present their ideas, they can assess this fund directly.”

There however seems to be questions going on already on how the fund will be accessed by the youths.

But then, Nigerian are already claiming, that just like every other funds, this too will be looted.

FREE ACCESS: How to run and manage Facebook, Instagram Ads: Meta Business Management

Free Meta Business Management Course


DISCLAIMER: Do not pay or release sensitive financial details to any organizer/recruiter unless futher verified from your end.
Easter Hunt Sale
Easter Sale
ACEworld Publishers

About the Author: ACEworld Publishers

At ACEworld Publishers, we publish Latest Opportunities, Jobs & Free Online Courses. Join us on Twitter .
LATEST OPPORTUNITIES:

🕛 Jan 15, 2023
Margaret McNamara Educational Grants (MMEG) Masters Scholarships 2023
in Masters Programs | for Girls & Women

🕛 Jan 15, 2023
MPOWER Women in STEM Scholarship for Undergraduate Students 2023
in Scholarships | for Girls & Women

🕛 Jan 15, 2023
Study in USA: Georgetown University 2023 Global Human Development Programme (GHD) for African Students
in Post-Graduate Programs | for Africans

🕛 Jan 15, 2023
WIN WIN Gothenburg Sustainability Youth Award 2023
in Awards & Prizes | for Youths

🕛 Jan 16, 2023
Stipendium Hungaricum (Government of Hungary) 2023-2024 Scholarships for International Students
in Masters Programs | for Postgraduates

🕛 Jan 17, 2023
Mozilla Foundation 2023 Responsible Computer Science Challenge for African Entrepreneurs
in General Competitions | for Africans

🕛 Jan 18, 2023
University of Oulu Masters Scholarships for International Students 2023
in Masters Programs | for Post Graduates

🕛 Jan 19, 2023
Obama Foundation 2023 Scholars Program at the University of Columbia
in Scholarships | for Undergraduates

🕛 Jan 20, 2023
Harvard University Houghton Library Visiting Fellowship Programme 2023
in Fellowships | for Post Graduates

🕛 Jan 20, 2023
IIASA Science Communication Fellowship 2023
in Fellowships | for Graduates

5 6 7 8 9 10 11 12 13 14 15