The Nigerian federal government is preparing to launch applications this month for the Nigeria Youth Investment Fund (NYIF), aimed at providing substantial financial support to young entrepreneurs.
With a budget allocation of N110 billion, the revitalized NYIF seeks to empower youths nationwide.
Dr. Jamila Bio-Ibrahim, Minister of Youth Development, announced this initiative during the swearing-in ceremony of the 2024 Batch B Stream I corps members at the NYSC orientation camp in Paiko, Niger State.
In a statement by the ministry’s director of press and public relations, Omolara Esan, the minister highlighted plans to streamline the NYIF application process, emphasizing its role in fostering entrepreneurial spirit and translating business ideas into viable enterprises.
This, in turn, is expected to stimulate job creation and economic development.
Dr. Bio-Ibrahim also referenced a recent initiative announced in May 2024, targeting to empower 5,000 NYSC members post-service with up to ten million naira each for entrepreneurial ventures, aiming to bolster economic growth and sustainability.
Furthermore, the minister disclosed plans to launch the National Youth Skills Programme (NYSP) in the same month, aiming to train over one million young Nigerians in fields like technology and agriculture.
This program aims to enhance employability and readiness for successful careers, aligning skills with current job market demands.
Addressing corps members directly, Dr. Bio-Ibrahim urged them to seize these opportunities, stressing the importance of acquiring skills that are pivotal for future success in a rapidly evolving world.
She encouraged them to utilize the NYIF for business ventures and actively participate in the NYSP to acquire diverse competencies during their NYSC service year.
Meanwhile, Governor Mohammed Umar Bago of Niger State announced plans by the state government to offer automatic employment to NYSC members in the medical and health fields willing to work within the state, with a focus on enhancing healthcare services.
He also revealed a N5 billion allocation for the construction of a permanent NYSC orientation camp in Niger State.
