The Federal Government has approved the sum of One Hundred and Ten Billion Naira to revitalize the National Youth Investment Fund (NYIF) in the 2024 fiscal year, to serve as the cornerstone for youth empowerment.
The Minister of Youth Development, Dr. Jamila Bio Ibrahim, disclosed this in a statement issued by the Director, Press, and Public Relations of the Ministry, Mrs. Omolara Esan, during the closing ceremony of the Ministry’s Management Retreat on Presidential Priorities and Deliverables in Abuja, revealed that the federal government has also approved the integration of skills and entrepreneurship development into the NYIF Programme.
Dr. Ibrahim further reiterated the commitment of President Bola Tinubu-led administration to empower every Nigerian youth through actionable policies and innovative programmes.
The Minister further explained that the Retail Development Financial Institution will be dedicated to providing financial solutions tailored specifically for young entrepreneurs, youth-backed ventures, and youth-sector enterprises, adding that with an initial capitalization of N10 billion, the bank is poised to be a pillar of support for youth-led enterprises, offering not just loans and equity but development, guidance, mentorship, and a network of resources.
