$68.4mln investment fund: 80,000 applications received in 72 hours in Nigeria

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Federal Government has revealed that the relaunched N100 billion restructured Nigeria Youth Investment Fund (NYIF) has received an impressive 80,000 applications within the first 72 hours.

This is just as the government has commenced strategic Town Hall meetings with youth from the six geopolitical zones of the country, designed to promote national cohesion and project government policies as well as programmes for youths in the regions.

The initiative seen as a last-ditch effort by the government to dissuade the youth from participating in the planned protest took off with the North Central youth stakeholders’ Town Hall meeting held in Abuja.

Minister of Youth Development, Dr Jemila Bio-Ibrahim while speaking on government programmes put in place to empower the unemployed youth, explained that if the 2025 appropriation Budget was increased, it would provide more funds to better the lives of youth in the country.

Dr Bio-Ibrahim also said if the Youth 30 per cent inclusion affirmation Bill is passed into law, it would enhance youth representation in the Federal Executive Council and other tiers of Government.

Director, Press and Public Relations Omolara Esan, in a statement on Tuesday in Abuja, revealed that the Minister of Youth, Dr Jamila Ibrahim announced the impressive number of applicants for the relaunched N110 billion NYIF at a town hall meeting with the North Central Youth Stakeholders in Abuja.

According to the Minister, the overwhelming response underscored the strong enthusiasm and interest among Nigerian youth in accessing the fund to support their entrepreneurial and innovative endeavors.

She added that the Ministry is encouraged by this enthusiastic response and is committed to ensuring a fair and transparent selection process to support the most deserving and impactful projects.

“The NYIF will create focused financing and funding mechanisms for youth-enabled businesses and innovations to keep our youth gainfully engaged in productive ventures.

“To maximize impact, the programme has been restructured to focus on existing high-potential businesses and create strategic clusters that will generate up to two million direct and indirect jobs in three years.”

Dr. Ibrahim emphasized that the present administration, led by President Bola Ahmed Tinubu places great importance on forming strategic partnerships and fostering collaborative efforts as essential components for successfully achieving the outlined goals.

“All stakeholders, including government at all levels, the private sector, traditional and religious leaders, civil society, and the media, are urged to join us in mobilizing youth across all social strata to benefit from the NYIF. Together, we can foster an environment where young entrepreneurs are given the necessary support to thrive, drive economic growth, and build the desired future for our dear nation.”

“I am inviting you to chart the course of this initiative, as you grab the opportunity to scale up your businesses for national prosperity. To ensure inclusivity, I am taking this message to every part of the country, especially the grassroots. Join hands with me to actualize this mission as part of the Renewed Hope Agenda of President Bola Ahmed Tinubu for the Nigerian youth”, she stated.

The Minister further explained that NYIF is a strategic initiative of the Federal Government of Nigeria aimed at harnessing the potential of Nigerian youth for economic growth and innovation, focusing on the development and empowerment of young entrepreneurs nationwide.

In their different goodwill messages, representatives of the North-Central Youth Stakeholders applauded President Bola Ahmed Tinubu for his various Youth- focused initiatives.

Among the stakeholders was the President of National Youth Council of Nigeria (NYCN) Comrade Sukubo Sukubo, who noted that the town hall meeting would serve as an opportunity to dialogue on the challenges affecting the youth and how to address them.

Sukubo, from North Central, specially commended President Tinubu for his steadfast commitment to enhancing the well-being of Nigerian youth.

He highlighted the significant progress achieved in socio-economic, human, and infrastructural development within a short timeframe.

While pleading with Nigerians to exercise patience with the Government, Sukubo expressed optimism that the country would soon overcome the present challenges.

He stressed the pivotal role of Nigerian youth in supporting the policies of Mr. President’s Renewed Hope Agenda for its successful implementation during this period of economic recovery.

The Senior Special Assistant to the President on Student Engagement, Hon. Sunday Asefon appealed to various youth groups in the country to shun the planned protest and take advantage of the programmes put in place by President Bola Tinubu to improve the livelihood of students and youths.

Some Youths and student leaders in the North Central zone urged the Minister to put up more youth engagement programmes to create awareness of Government programmes, gave assurance that youth from the region were not part of the protest.

The Town hall also featured the presentation of a document by the leadership of the National Youth Council of Nigeria to the Minister on ways to address challenges affecting Youths in the country.