FG set to launch application process for youth investment fund

Nigeria Youth Investment Fund (NYIF)

The Nigerian Federal Government has announced plans to launch the application process for the Nigeria Youth Investment Fund (NYIF), a programme aimed at providing capital to young entrepreneurs with viable business ideas and existing businesses. The fund, which was launched in 2020, is expected to allocate N110 billion to startups and early growth-stage businesses.

Speaking at the swearing-in ceremony of corps members in Niger state, Minister of Youth Development, Jamila Bio-Ibrahim, revealed that the application process will commence in July. She emphasized that the government is committed to fostering an entrepreneurial spirit and providing essential resources to help young Nigerians turn their business visions into reality.

The minister also announced the launch of the National Youth Skills Programme (NYSP), which will train over one million young Nigerians across various fields, including technology, agriculture, and more. The programme aims to enhance employability and prepare participants for a successful career by aligning their skills with the evolving demands of the job market.

The minister urged corps members to take advantage of these opportunities, emphasizing that the world is rapidly changing and the skills they learn now will be crucial to their future success. She encouraged them to utilize the NYIF to bring their business ideas to life and participate actively in the NYSP to acquire new competencies, developing a well-rounded skill set during their National Youth Service Corps (NYSC) year.

With the launch of these initiatives, the government is expected to empower young Nigerians with the necessary resources and skills to succeed in various sectors, driving economic growth and development in the country.

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