NIGERIAN youths have presented a letter of appreciation to President Muhammadu Buhari through the Minister of Youth and sports, Mr. Sunday Dare, for the approval of 75 billion investment fund for them.
Mr. Sukubo Sara-Igbesukubo, the President of the National Youth Council of Nigeria (NYCN), who presented the letter in Abuja, thanked the president for the laudable act of establishing the Nigerian Youth Investment Fund with an initial capital of N75 billion.
The News Agency of Nigeria (NAN) reports that the Federal Government in July approved the establishment of the N75 billion Nigeria Youth Investment Fund (NYIF) for three years, following a memo presented by the Minister of Youth and Sports Development.
The NYIF is to serve as a sort of youth bank that will fund and support the innovative ideas, skills, talents, and enterprise of the Nigerian youth.
Sara-Igbesukubo said that the fund was a special window for the Nigerian youths to access financial facilities for their entrepreneurial ideas, innovations, and projects.
He added that “the laudable milestone has shown that the present administration has the interest of Nigerian youths at heart.
“Today, the hope of millions of talented, hardworking, and creative young Nigerians is being restored.”
Dare, who was represented by Mr. Gabriel Aduda, the Permanent Secretary in the youth and sports ministry, said that the fund would enable the country to go beyond empowerment to investment.
He said that the fund would help to boost youth investment in the country, noting that the ministry would work with Central Bank of Nigeria (CBN) to evolve modalities that would ensure that the fund was used for the investment it was meant for.
“The youths will be involved in the decision making as they will be in the forefront to achieve the goal of the fund,’’ he said.
Dare said that Nigerian youths did not lack ideas but have not had enough opportunities to utilise their talents.
He said that “we are hoping that with the fund, the youths will put every effort to get it running.”
The minister advised youths to be more involved in social media to be abreast with current developments in the world. (NAN)
– Aug. 3, 2020 @ 16:09 GMT |