By Dayo Omoogun
In a novel move, the Federal Government on Wednesday approved the establishment of the Nigerian Youth Investment Fund (NYIF).
This was disclosed to State House Correspondents after a Federal Executive Council (FEC) meeting, by the Minister of Youth and Sports Development, Mr Sunday Dare.
He explained that the Fund which will operate as the bank will provide opportunities for youths, aged 18 to 35, with ideas and innovation to apply for funding from the N75 billion youth bank.
“For the first time in the history of Nigeria, the FEC approved the establishment of the Nigerian Youth Investment Fund (NYIF) to the tune of N75 billion.
“This fund is meant to create a special window for accessing credit facilities and financing on the part of our youths that will help to fund their ideas, innovations and support their enterprise.