Relaunched NYIF receives over 80,000 applications in 72 hours – FG

Dr Jamila Bio Ibrahim, the Minister of Youth Development, has said that the relaunched and restructured N100 billion Nigeria Youth Investment Fund (NYIF) has received an impressive 80,000 applications within the first 72 hours.

She said this during a town hall meeting with the North Central youth stakeholders in Abuja.

According to Dr Jamila, the overwhelming response highlights the strong enthusiasm and interest among Nigerian youth in accessing the fund to support their entrepreneurial and innovative endeavours.

She added that the ministry is encouraged by the response and is committed to ensuring a fair and transparent selection process to support the most deserving and impactful projects.

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“The NYIF will create focused financing and funding mechanisms for youth-enabled businesses and innovations to keep our youth gainfully engaged in productive ventures. To maximize impact, the programme has been restructured to focus on existing high-potential businesses and create strategic clusters that will generate up to two million direct and indirect jobs in three years.”

Dr Jamila emphasised that the present administration, led by President Bola Ahmed Tinubu places great importance on forming strategic partnerships and fostering collaborative efforts as essential components for successfully achieving the outlined goals.

“All stakeholders, including government at all levels, the private sector, traditional and religious leaders, civil society, and the media, are urged to join us in mobilising the youth across all social strata to benefit from the NYIF.

“Together, we can foster an environment where young entrepreneurs are given the necessary support to thrive, drive economic growth, and build the desired future for our dear nation.”

The minister also explained that NYIF is a strategic initiative of the Federal Government of Nigeria aimed at harnessing the potential of Nigerian youth for economic growth and innovation, focusing on the development and empowerment of young entrepreneurs nationwide.