The Nigerian Youth Investment Fund was approved by the Federal Executive Council on July 22, 2020.The programme handled by the Ministry of Youths and Sports is aimed at reaching 500,000 youths between 2020 and 2023It is an initiative of the Federal Government meant to improve the youths. It is meant to improve the skills, talent and enterprises of youths.
The fund aims to meet 500, 000 youths from 2020-2023. Each fund approval will range from N250, 000 to N50m with a spread across group applications, individual applications, working capital loan set as one year and term loan set at three years with single digit interest rate of 5%. NYIF joins the slew of youth focused programs already in place by the Muhammadu Buhari led Federal Government as part of a National Plan to combat youth unemployment and drive innovation, fuel entrepreneurship as well as support youth SMEs.
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