The Nigeria Youth Investment Fund (NYIF) has received an overwhelming response, with over 10,000 youths registering for the program. The Federal Government has allocated N110 billion to support young entrepreneurs aged 18-40.
According to the Special Adviser to Governor Bassey Otu on Digital Economy, Philip Obin, the fund is being administered by the Federal Ministry of Youth Development.
Obin noted that the initiative aims to provide funding for business ideas and existing businesses looking to expand.
“Youths who have business ideas but lack funding can access between N3 million and N20 million,” Obin said. “They will use the fund to start up their businesses, while those already in business can use it to expand.”
Obin added that applicants must provide a solid business plan, including market strategy, financial projections, and revenue generation plans.
“We have registered close to 10,000 persons so far, and we are optimistic that this is one of the best programs for Cross River,” Obin said.
“The registration process has been smooth, with 50-100 volunteers helping to register applicants daily”, he added.
This initiative is a significant step towards empowering young Nigerians to contribute to the country’s socio-economic development.
Patrick Abang, National Accord Newspaper
