FG set to open applications for youth investment fund

FG set to open applications for youth investment fund

The federal government is set to
open applications for young entrepreneurs to access capital through the Nigeria
Youth Investment Fund (NYIF).

 

The programme, which was launched
in 2020, is aimed at supporting young Nigerians aged 18-35 with capital to fund
viable business ideas and existing businesses.

 

In May, the federal government
announced the approval for the allocation of N110 billion to startups and early
growth-stage businesses.

 

Speaking about this development
during the swearing-in ceremony of corps members in Niger state, Jamila
Bio-Ibrahim, minister of youth development, said the application is set to open
in July.

The minister said the NYIF would
simplify the application process to allow corp members to access the fund to
scale their small businesses.

 

She advised corps members to take
advantage of these opportunities, adding that the government is committed to
fostering an entrepreneurial spirit and providing essential resources to help
transform their business visions.

 

“We are also launching the National
Youth Skills Programme (NYSP) this month. This program aims to train over one
million young Nigerians across diverse fields. 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,” 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 is
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.

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