The federal government has reported an impressive response to the relaunch of the N110 billion National Youth Investment Fund (NYIF), receiving 80,000 applications within just 72 hours of opening the application portal.
Minister of Youth Development, Dr. Jamila Bio-Ibrahim, revealed this during a town hall meeting with North Central stakeholders in Abuja.
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The surge in applications highlights the eagerness of Nigerian youths to tap into the fund for their entrepreneurial and innovative ventures.
According to a statement by the Director of Information and Public Relations, Omolara Esan, the ministry is committed to a transparent selection process to ensure that the most promising and impactful projects are funded.
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“The NYIF aims to provide targeted financial support to youth-driven businesses and innovations, with the goal of engaging youth in productive activities. The program has been redesigned to concentrate on high-potential enterprises and to establish strategic clusters, which are projected to create up to two million jobs—both directly and indirectly—within three years,” Bio-Ibrahim said.
The minister emphasized the importance of collaborative efforts among all stakeholders, including government bodies, the private sector, traditional and religious leaders, civil society, and the media, to support and mobilize youth across Nigeria.
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She invited stakeholders to contribute to the initiative as part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, aimed at fostering a supportive environment for young entrepreneurs.
Dr. Bio-Ibrahim underscored that the NYIF is a key federal initiative designed to harness youth potential for national economic growth and innovation, focusing on empowering young entrepreneurs across the country.
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Sukubo expressed appreciation for President Tinubu’s dedication to improving the lives of Nigerian youths and urged patience as the government navigates current challenges.
He expressed optimism that Nigeria will soon overcome its difficulties, with youths playing a central role in the administration’s economic recovery plans.
