The Central Bank of Nigeria (CBN) on Thursday, October 1, declared that its Nigeria Youth Investment Fund (NYIF) would soon be disbursed.
The CBN disclosed this via its Twitter handle on Thursday while the nation marked its 60th Independence anniversary.
TechEconomy.ng can report that the Federal Government of Nigeria initiates the N75billion Nigeria Youth Investment Fund as part of measures to galvanising the economy.
Techeconomy.ng gathered that the Permanent Secretary, Federal Ministry of Sport and Youth Development, Gabriel Aduda, also spoke about the development.
Aduda said the Youth Fund is dedicated to investing in innovative ideas, skills, talents and enterprise of the Nigerian Youth and aimed at turning them into Entrepreneurs, Wealth Creators and Employers of labour contributing to national development.
He explained further that the President Buhari-led Federal Government considers Nigerian youth as resources to be harnessed and not a problem, hence the initiation of this Fund.
According to him, “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.
“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.”