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FG Approves NYIF grants

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In an effort to curb the high level of youth unemployment in Nigeria, the Federal Executive Council has approved the establishment of N75 billion Nigerian Youth Investment Fund (NYIF).

The Minister of Youth and Sports posted in Twitter saying, “So Nigerians from wherever you are, if you are a youth, you can access this fund by approaching these credit banks.”

He said “One of the most important features of the Nigeria Youth Investment Fund approved by Mr. President is that it is a ring-fenced fund with a restriction that it can only be used for a particular purpose that the money goes directly only to the youth to fund their ideas & enterprise.”

It was previously said the fund is expected to last for 3 years.

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