Startup Grt Ready: FG Approves 75 Billion Youth Empowerment Funds

The Federal government and the Buhari administration has approved the Youth Empowerment fund of 75 billion naira Valid for 3 years, with the aid of the youth empowerment fund Nigeria Youths can get their Ideas and businesses empowered by the federal government under the Nigeria Youth Investment Fund, NYIF.

The NYIF is set aside serve as a Youth Bank that will help, empower and support the innovative ideas, skills, talents and enterprise of the Nigerian Youth. A loan and credit pathway dedicated to assessing credit and soft loans. This is a good move towards empowering the Nigerian youth and the first of it kind.

The NYIF, also known as the “Youth Bank” would create a finance support base for creativity and innovation of Nigerian youths within the age range of 18 and 35 years, so if you fall within that age range, get your ideas ready for funding by the federal government

Dare, said Nigerian youths with ideas and innovation would be able to apply for funding from the Youth Bank.

 

He said: “The modality would entail those between the ages of 18 and 35 years and who have genuine business ideas would be eligible to pitch their ideas in any of the 125 micro-credit banks across the country and qualified candidates would have access to the funds.

“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 year.”

The minister assures that the modality for the funds disburse will be fair and that any Nigeria Youth that fall between the stipulated age of 18 to 35 years can get the fund, according to him he highlighted that the process will be digital just like the empower program.

We hope this new innovative approach by the federal government under the NYIF to empower the youth goes well.

If you fall between the age range, this is the right time to get your innovative and entrepreneurship ideas ready for funding, details on the the modality and portal will be made available soon.

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