News
Youth Ministry Clears Doubt On NYIF Disbursement
Joel Ajayi
The Ministry of Youth and Sports Development has cleared doubts about the disbursement of the Youth Investment fund, assuring that it is being done in phases.
In a press statement issued on Monday in Abuja by the Director of Press for the Ministry of Youth and Sports Development Muhammed Manga stated that, the Ministry has been following with interest the reaction of some beneficiaries of the Nigeria Youth Investment Fund (NYIF), particularly those expressing disappointment at the N300,000.00 cap on disbursement under the first tranche of N12.5 billion.
According to the statement firstly, the framework specified 250k as the maximum for individual and eligible businesses that are critical can access up to 3m subject to meeting key criteria set in the guideline and conditions.
“Considering the number of applications received, there was need to ensure spread and enable more beneficiaries enjoy the facility.”
The statement further stated “It is pertinent to state that the Ministry received over three million applications for the N12.5 billion that is available; and at the current cap of N300,000.00 per beneficiary, only about 41,000 beneficiaries can be covered.
“The Ministry is desirous of reaching as many beneficiaries as possible, hence the decision to limit loans to the current amount.
“We also know that some of the applicants have also benefitted from existing intervention, which has supported them and are impacting the economy.
“It is important we start and increase gradually, considering that there are lots of first-time borrowers as well and that the programme double edge, which includes capacity building, mentoring, monitoring and support will sustain the beneficiaries and guarantee expected outcome. Higher loan thresholds would be possible once additional funds are available”.
The Ministry re -affirmed that NYIF is not a grant, but a loan targeted at supporting the youth to start small businesses or to inject funds into existing small businesses.
News
AUDA-NEPAD CEO Highlights Collaboration as Catalyst for Africa’s Economic Competitiveness
Joel Ajayi
The Chief Executive Officer and National Coordinator of AUDA-NEPAD Nigeria, Hon. Jabiru Salisu Abdullahi, has called for stronger public-private partnerships to boost Africa’s global competitiveness.
Speaking at the High-Level Business Forum 2025 organised by the NEPAD Business Group Nigeria in Lagos, Hon. Abdullahi said Africa’s transformation will be driven by enterprise, not aid.
He urged governments to create enabling environments that foster innovation, industrial growth, and sustainable development.
He reaffirmed AUDA-NEPAD Nigeria’s commitment to working with private sector actors and development partners to deliver key initiatives in agriculture, ICT, manufacturing, and renewable energy under the AU Agenda 2063 framework.
The event brought together top business and policy leaders, including representatives from the African Business Roundtable, the Bank of Industry, the Africa Finance Corporation, and the Manufacturers Association of Nigeria, among others.
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