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FG Flag-Off NYIF Application Process

Published

5 years ago

October 15, 2020

Joel Ajayi

The Federal government has officially flagged off the start of the National Youth Investment Fund applications process.

Minister of Youth & Sports Development t. Mr. Sunday Dare made this announcement on Thursday in Abuja when he addresses major unfolding issues relating to the initiative.

“It is my pleasure to address you as we record yet another milestone in our drive to increase the government’s investment in our youth, who we recognize as assets and not problems. This mindset is the impetus that propelled us to approach the Federal Executive Council to approve the Nigeria Youth Investment Fund (NYIF) as a ringfenced Fund for the Nigerian youth, our own sort of a Youth Bank.

“The Federal Executive Council on July 22, 2020, thus approved the Nigeria Youth Investment Fund (NYIF) to the tune of N75 billion spread over three years to cater to youth-owned businesses and investment needs. Following the approval, the Ministry of Youth and Sports Development set up three distinct bodies to work out the operationalization of the Fund.

“These are A Steering Committee which is chaired by me with the Honourable Minister of Finance, Budget and National Planning, Minister of Women Affairs and Social Development, Minister of Industry, Trade and Investment and the Governor of the Central Bank of Nigeria as members.

“There is also the Technical Committee chaired by the Permanent Secretary, Ministry of the Youth and Sports Development with other members drawn from the relevant MDAs with representatives from the CBN, the Ministry of Finance, Budget and National Planning among others. More importantly, there is the Focal Group, largely made up of youth that was selected based on their knowledge and specialized areas of expertise with the major task of being a springboard for gauging youth’s perception, expectations, and input to the Fund.

“I am pleased to inform you that membership of the three groups is on the basis of volunteer work and is therefore unpaid. The commitment with which they worked ensured that we are able to rapidly get to the stage we are at today. For me, this commitment signifies the drive and passion that the Nigerian Youth are renowned.

“These three groups were within this short time able to harmonize the input of stakeholders such that the delivery vehicle that guarantees access for all eligible youth was immediately prepared to commence the application, processing, and disbursement of the Fund. The assignment of the three groups culminated in NISRAL Microfinance Bank being selected as a disbursement agency, given its reach and spread which ensure that youth across the country have access to apply for the Fund.

“I must mention the support we enjoyed from the Central Bank of Nigeria (CBN), which in line with Mr. President’s directive, provided the initial N12.5 billion naira required for the Fund to operate in the remainder of the year 2020. We are also grateful that the Ministry of Finance, Budget, and National Planning has on its part committed to providing the next tranche of the Fund in the 2021 Budget.

“With the great work put in place by stakeholders and in line with Mr. President’s desire to increase investment in the youth, the loan provided under NYIF has an interest rate of 5% per annum. Youth applying as an individual or non-registered businesses are able to draw up to two hundred and fifty thousand nairas (₦250,000.00), while youth-owned registered businesses can apply for up to three million naira (₦3,000,000.00). Loans are with a tenure of five years and a moratorium of up to 12 months.

“Our commitment to seeing the youth succeed is such that the loan is bundled with training that will ensure business sustainability for successful applicants. It is my belief that the Fund will grow to become a permanent feature of our society when beneficiaries run successful businesses and repay their loans.

It is the least that beneficiaries of this round of Funding can do for those coming after them.

“It is therefore my pleasure to officially announce the start of the NYIF application process.

However, application is available online on NISRAL Microfinance Bank’s site, www.nmfb.com.ng . Applicants can also visit our website, www.youthandsport.gov.ng and www.noya.ng.

Speaking also was the permanent Secretary Ministry in of Youth Mr. Gabriel Aduda he expressed: “It’s historic in any way, it’s happening for the first time for the Development all Nigerians Youth.”

He commended President Muhammadu Buhari and the Ministry of Youth.

Also Speaking the representation of Central Bank of Nigeria CBN the Director of Development Finance Department Mr. Philip Yila Yusuf commended the creativity of the Minister of Youth and Sports Development.

According to him, the process is quite democratic, we are encouraging all youth to apply to contribute to national development N12.5billion is readily available for youth to grab.

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Nigeria’s Historic Bid for the 2030 Commonwealth Games: A Call for National and Global Support

Published

5 days ago

September 30, 2025

The Gleamer

Joel Ajayi

Nigeria is poised to make history as it seeks to host the Centenary Commonwealth Games in 2030, a monumental opportunity that promises to transform the nation’s economy, infrastructure, and global standing.

More than a sporting spectacle, the Games would serve as a catalyst for development across multiple sectors, leaving behind a legacy of national pride and sustainable growth.

The benefits of hosting the Games extend far beyond the sports arena. Nigeria stands to gain both empirical and non-empirical advantages, with direct, indirect, and induced impacts that will touch every corner of society. Infrastructural development will take center stage, with new facilities such as indoor sports halls, conference centers, and improved road networks reshaping urban landscapes while strengthening the nation’s capacity to host future international events.

Economic growth is another significant dividend. Over 10,000 jobs are expected to be created, spanning construction, facility management, event planning, and tourism services.

The hospitality industry will undergo major improvements as hotels and resorts are upgraded to meet international standards, while local restaurants, lounges, and tourist attractions will see a surge in patronage from international visitors. Small and medium enterprises, particularly in the transport, finance, and food service sectors, will become some of the greatest beneficiaries, as the Games generate new demand and expand opportunities for local businesses.
The Commonwealth Games will also accelerate the growth of Nigeria’s sports industry.

Investments in training facilities, coaching, and talent development will inspire a new generation of athletes, ensuring long-term benefits that extend beyond 2030, a major focus of the President Bola Tinubu administration.
At the same time, the process of preparing for the Games will create opportunities for Nigerians to learn new crafts, acquire technical skills, and engage in global-standard event management, thereby strengthening human capacity and innovation across industries.

Mallam Shehu Dikko, Chairman of the Nigeria Sports Commission, and Hon. Bukola Olopade, the Director General, have been widely recognized for their tireless and visionary leadership in repositioning Nigeria’s sporting sector.

Their commitment to facilitating infrastructural development and strengthening grassroots sports development has laid the foundation for Nigeria’s bold bid to host the 2030 Commonwealth Games. Under their leadership, the NSC is fostering strategic partnerships and driving innovation in sports administration, they have demonstrated the nation’s readiness to stage an event of such global magnitude.

Beyond the tangible gains, the hosting of the 2030 Commonwealth Games carries profound symbolic value. It would be a moment of unity and pride, a chance for Nigeria to showcase its cultural richness, resilience, and excellence to the world.
As a centenary edition, the Games would stand as a historic milestone not just for the Commonwealth but for Nigeria itself, cementing its place on the global stage as a capable, ambitious, and forward-looking nation.

The gains from hosting the Commonwealth Games can never be undermined or overemphasized. This is Nigeria’s time to step forward and show the world our resilience, and excellence. We call on every Nigerian, across sectors and communities, to support this noble aspiration.

Nigeria’s pursuit of the 2030 Commonwealth Games is a vision for transformation, a blueprint for national development, and a legacy project that will inspire generations to come.

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