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FG sets up N75bn Youth Bank to drive innovation and enterprise of Nigerian youths

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President Muhammadu Buhari presiding over virtual FEC meeting at the State House, Abuja-Photo credit: Presidency

By Audrey Lotechukwu

THUR, JULY 23 2020-theG&BJournal– Nigeria’s Federal Executive Council (FEC) Wednesday gave approval for the establishment of the Nigeria Youth Investment Fund (NYIF), with focus on driving and funding innovative ideas, upgrading skills, talents and enterprise of Nigerian youths.

N75 billion has been earmarked for the Fund over a three-year period and would act as a pathway for Nigerian youths seeking soft loan and access to credit. The Fund is the first of its kind in the country.

‘’By approving the establishment of the NYIF, President Buhari has demonstrated his unflinching support for the Nigerian Youth and his implicit confidence in their innovative talents, potentials and industry,’’ Sunday Dare, the Minister of Youth and Sport Development said in a statement seen by theGBJournal.

He said, ‘’the NYIF will accelerate Nigeria’s investment in the ideas of her youth.’’

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