Youth Investment Fund: Beneficiaries to be Given N250,000 – N5m – Finance Minister

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Nwolu Obiajulu

Obiajulu Nwolu is an established writer at africannewstoday.com. He is passionate about African affairs. He loves writing about interesting facts relating to the African continent and enjoys sharing his knowledge with others.

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The Federal Government has said that beneficiaries of the N75bn Nigeria Youth Intervention Fund (NYIF) will be given between N250,000 to N5m.

This was disclosed by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed on Saturday.

Ahmed had previously noted that the President Muhammadu Buhari administration created a youth fund of N25bn as part of measures to tackle the #EndSARS protests and other related youth agitations in the country.

The minister stated that the Federal Government would increase the fund to N75bn within a three years period.

Ahmed at a meeting with the 77 District Heads and religious leaders, at Kaduna State University on Saturday said that each youth that benefits from the fund would receive between N250,000 to N5m.

She who said the amount would be informed by the business idea, proposal and repayment plan for each benefitting youth, added that interest-free loan would be repayable within a period of five years.

Ahmed urged religious and traditional leaders to educate parents at grassroot on the importance of inculcating family virtues in their children.

She said, “We need to remind ourselves that our children need to be upright and that this criminality going on a daily basis is not for their benefits and the benefit of the state and country.”