May 22, (THEWILL)- The federal government has approved N110 billion, to revitalise the National Youth Investment Fund (NYIF) in the 2024 fiscal year.
Minister of Youth Development, Jamila Bio Ibrahim, disclosed this during the closing ceremony of the ministry’s management retreat on presidential priorities and deliverables with the theme: “Achieving the Eight Presidential Priorities and Deliverables” in Abuja.
A press statement issued by the director of press and public relations of the ministry, Omolara Esan, quoted the minister as pointing out that “the federal government has also approved the integration of Skills and Entrepreneurship Development into the NYIF programme, transitioning the NYIF committee to an interim project management office, and investing N5 billion in the Youth Development Bank.”
She said the fund is not just a financial reservoir, but a catalyst for youth entrepreneurship and innovation, aimed at bridging the gap between ambition and opportunity.
“The National Youth Development Bank (NEXTGEN BANK), a pioneering effort in partnership with the Bank of Industry and their private sector partners, represents a ground-breaking stride towards economic independence for our youth.
“With an initial take-off shareholder fund of N110 billion, this institution will be instrumental in nurturing young entrepreneurs and innovators who are the bedrock of our nation’s future”, she said.
About the Author
