Federal government opens application for N110bn youth fund
Federal government opens application for N110bn youth fund
The federal government is set to open applications this month to facilitate increased access to financial support for young entrepreneurs through the Nigeria Youth Investment Fund (NYIF).
A budget of N110 billion has been allocated to rejuvenate the NYIF, aimed at empowering youths across the country.
Dr. Jamila Bio-Ibrahim, Minister of Youth Development, announced this initiative during the swearing-in ceremony of the 2024 Batch B Stream I corps members at the National Youth Service Corps (NYSC) orientation camp in Paiko, Niger State.
In a statement by the director of press and public relations of the ministry, Omolara Esan, the minister assured that the NYIF would simplify the application process, emphasising the commitment to fostering entrepreneurial spirit and providing essential resources to help transform business visions into reality, thus contributing to job creation and economic growth.
The minister recalled announcing a groundbreaking initiative in May 2024 to empower at least 5,000 NYSC members with up to ten million naira each for entrepreneurial ventures upon completing their service.
She explained that this would contribute to economic growth and sustainability.
She said: “We are also launching the National Youth Skills Programme (NYSP) this month. This programme aims to train over one million young Nigerians across diverse fields such as technology, agriculture, and more.
The NYSP offers a remarkable opportunity to enhance your employability and prepare for a successful career, aligning your applications with the evolving demands of the job market.”
The minister urged the corps members to take advantage of these opportunities, emphasising that the world was changing rapidly and the skills they learn now will be crucial to their future success.
She advised the corps members to make use of the NYIF to bring their business ideas to life as well as actively participate in the NYSP to acquire new competencies, using their NYSC year to develop a well-rounded skill set.
Governor of Niger state, Mohammed Umar Bago said that his government would give automatic employment for members who are in the medical and health field willing to take employment with the state towards improving healthcare delivery services across the state.
Bago also disclosed that the state government has earmarked N5bn for the construction of the permanent orientation camp of the National youth service corps in Niger State.
