The newly established Nigerian Youth Investment Fund (NYIF) will reduce Youth restiveness, unemployment, provide succor and bring to the fore ideas, skills, talents enterprise of the Nigerian Youth, even as it would turn them into entrepreneurs, wealth creators and employers and lead to national development.
This was the assertion of the Minister of Youth and Sports Development, Mr. Sunday Dare, when a group of All Progressive Congress (APC) Youth leaders visited the Ministry to commend the Minister for securing Federal Executive Council’s approval for the establishment of the NYIF.
Mr. Dare asserted that the approval of NYIF by President Muhammadu Buhari is fait accompli to his staunch belief that our young people are the greatest asset and demands collective responsibility for their success.
‘’The NYIF joins the slew of youth-focused programmes already in place by the President Muhammadu Buhari led Federal Government, as part of a National plan to combat Youth unemployment and drive innovation, fuel entrepreneurship as well as support youth SME’s.’’
He further affirmed, ‘’NYIF provides a single window of investment Fund for the Youth, thereby creating a common bucket for all Nigerian youth to access government support. Providing a less cumbersome access to credit and finance for the average Nigerian youth with an approved workplan or business idea will help lift thousands of youth out of poverty and birth a whole generation of entrepreneurs.”
The Nigerian Youth Fund will generate a minimum of N25billion each year in the next 3 years, totaling N75billion to ring fence the NYIF. The Fund will strictly cater to the investment needs of persons between the ages of 18 and 35 years old.
While commending Mr President and his fellow Cabinet members for their unflinching support, Mr Dare enthused that the NYIF is timely and demonstrates the commitment of the Buhari administration to ensuring that the dreams and ideas of our innovative youths become a reality.
In his remarks, the Permanent Secretary, Mr. Gabriel Aduda, commended the APC Youths for expressing their gratitude to Mr President for approving the creation of the NYIF, even as he acknowledged the efforts of the Minister in bringing this youth transformation agenda into reality.
The Team Leader of the APC Youths, Barrister Ismaeel Ahmed, stated that the NYIF is a legacy that the Buhari administration will bequeath to successive governments to build upon, emphasising that for the first time, the nation has a Minister of Youth and Sports Development, truly committed to investing and transforming the lives of Nigerian Youth.