By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Africa Housing NewsAfrica Housing News
Notification Show More
Aa
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
    • About Us
    • Contact Us
    • Join Us
Reading: 10 Key Points About The Nigeria Youth Investment Fund (NYIF)
Share
Aa
Africa Housing NewsAfrica Housing News
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
Search
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
    • About Us
    • Contact Us
    • Join Us
Have an existing account? Sign In
Follow US
Africa Housing News > Blog > News > 10 Key Points About The Nigeria Youth Investment Fund (NYIF)
News

10 Key Points About The Nigeria Youth Investment Fund (NYIF)

Fesadeb
Last updated: 2020/09/24 at 2:06 PM
Fesadeb Published September 24, 2020
Share
SHARE

The Nigerian Youth Investment Fund (NYIF) is a N75 billion fund established in July 2020 by President Muhammadu Buhari.
Below are some key points you should know about the NYIF:

  • The Investment Fund is dedicated to investing in the innovative ideas, skills, talents and enterprise of the Nigerian Youth, aimed at turning them into entrepreneurs, wealth creators and employers of labour contributing to national development.
  • It is a ring-fenced fund that will provide a minimum of N25 billion each year for the next three years (2020-2023) totalling N75 billion.
  • The fund is part of the Federal Government’s National plan to combat youth unemployment and drive innovations, fuel entrepreneurship as well as support youth MSMEs.
  • It is also a ring-fenced fund that will strictly cater to the investment needs of persons between the ages of 18 and 35 years old.
  • NYIF is designed to provide a less cumbersome access to credit and finance for the average Nigerian Youth and birth a whole generation of entrepreneurs.
  • The fund aims to reach 500,000 youth annually between 2020-2023. Each fund approval will range from 250,000 to 50,000,000.

READ ALSO: Petrol, electricity: Labour lists conditions to halt strike

  • Disbursement will be done through various channels which will include Micro Credit Organizations across the country under the Central Bank of Nigeria, (CBN) supported by the Bank Of Industry, (BOI) and Venture Capital Organizations registered with the CBN.
  • NYIF has a template to engage and accommodate youth with little or no formal education but have brilliant business ideas.
  • Youths that are interested in the fund must be citizens of the Federal Republic of Nigeria, have a fundable business idea, registered business name, and must be able to present a recognized means of identification and guarantors.
  • The Ministry of Youth and Sports Development is the lead Ministry working with the Ministry of Finance, Budget and National Planning, the CBN and other relevant Ministries, Departments and Organizations in the implementation of the NYIF.

Source: Daily Trust

You Might Also Like

Presidency Debunks Reports Linking Shettima’s Remarks to Rivers Crisis

Kemi Adeosun Launches N70m Halfway Home to Empower Nigeria’s Forgotten Youths

Tinubu to Inaugurate Nigeria’s First National Steel Summit in Abuja

Nigeria Unveils Education Reform Plan to Tackle Falling Standards

Senator Akintunde Advocates Full Privatisation of Power Sector, Calls for Subsidy Reintroduction

Join Our Whatsapp Group

Contact Image

Join Our WhatsApp Channel

Housing TV Africa is the First Housing News Television
in Africa on Startimes Channel 149 bringing you
Housing News, Mortgage News, Construction News etc

Fesadeb September 24, 2020 September 24, 2020
Share this Article
Facebook Twitter Email Print
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

© Africa Housing News. All Rights Reserved 2024

Welcome Back!

Sign in to your account

Lost your password?