President Muhammadu Buhari has approved the establishment of a N75 billion Nigeria Youth Investment Fund (NYIF) for three years following a memo presented by the Minister of Youth and Sports Development.
In a statement released by the Minister of Youth and Sports Development, Sunday Dare, he said, “The NYIF is to serve as a sort of Youth Bank that will fund 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 the very first of its kind by any Nigerian government.”
Mr Dare said by approving the establishment of the NYIF, President Buhari has demonstrated his unflinching support for the Nigerian youth and his implicit confidence in their innovative talents, potentials, industry.
NYIF will accelerate Nigeria’s investment in the ideas of her youth, he said.
The minister said President Muhammadu Buhari has fulfilled his assertion that “ … it is our collective responsibility to ensure that we provide adequate resources to meet the basic needs of our teeming youth.”
“Nigerian youth thank Mr. President”, he added.