The Nigeria Youth Investment Fund (NYIF). The Federal Executive Council in March 2024 approved the take-off of the restructured N-YIF with an initial seed-up capital of N110 billion. The objective of the N-YIF is to improve access to finance for youths and youths-owned enterprises for national development; generate much-needed employment opportunities to curb youth restiveness; encourage out-of-school, marginalized, unemployed and underemployed youths to venture into sustainable, viable, income-generating projects or ventures; and promote active participation of youths in the socio-economic development of Nigeria through youth enterprise clusters across the country.
The initiative is targeted at young people ages 18 to 40. It outlines the actions required to support business establishment, expansion, and employment creation. The fund aims to financially empower Nigerian Youths to generate at least one million jobs in 2024.
Objectives of the NYIF
- To reduce youth unemployment by fostering entrepreneurship.
- To provide young entrepreneurs with access to affordable finance.
- To support youth-led businesses in achieving sustainable growth.
- To encourage innovation and creativity among the youth.
- To create job opportunities and improve the standard of living.
For more info visit www.fmyd.gov.ng
