ICYMI: 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.