By Francis Ogwo
The Nigeria Youth Investment Fund (NYIF) has so far disbursed N165,700,000 worth of loans to 23 beneficiaries.
This was disclosed in a statement by the Federal Government on Wednesday in which it revealed that the exercise has so far received 3 million applications.
The statement read: “The Nigeria Youth Investment Fund (NYIF), being implemented by Ministry of Youth and Sport, has successfully completed its pilot disbursement of loans totaling N165,700,000 to 239 beneficiaries ahead of the processing of the over three million applications so far received.”
They added that the fund “is being implemented by Youth Ministry in partnership with the CBN and Ministry of Finance and is being disbursed through NIRSAL.”
Recall that the Federal Government approved the establishment of the N75 billion Nigerian Youth Investment Fund (NYIF) in July 2020. reduce the increasing unemployment rate in the country.
