The Central Bank of Nigeria said today that the N75 billion Nigerian Youth Investment Fund, promised by President Buhari, is coming soon.
The CBN gave the indication in a tweet today.
“Nigeria Youth Investment Fund…Coming soon”, it said.
President Buhari and the Federal Executive Council approved the fund to help the realisation of business ideas of Nigeria’s teeming youthful population.
In approving the fund, Buhari considered Nigerian youth as resource to be harnessed and not a problem.
“The Fund will serve as a catalyst to unleash the potential of the youth and enable many of them build businesses that will employ and in turn empower others”, said Gabriel Aduda, the Permanent Secretary, Federal Ministry of Sport and Youth Development.
“A multiplier effect of economic expansion and growth required to thrive in an increasingly competitive and connected world where adding value is the only sustainable pathway to success is expected to be achieved,” Aduda said in the preliminary information about the fund.
According to him, a minimum of N25 billion each year in the next 3 years, totalling N75Billion will be required to ring fence the NYIF.
Read More here: Initial Information on Youth Fund
