News
Youth Investment Fund Benefits 5,200 Youth As 25,000 More Await Approval, Disbursement
Joel Ajayi
The Nigeria Youth Investment Fund (NYIF), operated by the Ministry of Youth and Sports Development, has disbursed loans to 5,200 youth amounting to one billion, six hundred and twenty-nine million two hundred and twenty thousand naira (N1,629,220,000.00)
The information is contained in the latest update provided to the Ministry by the NIRSAL Micro Finance Bank (NMFB), which disburses the loan. The update also showed that it was prepared to disburse to another batch of 25,000 youth as soon as their loan applications are approved.
Total eligible applications approved stood at 6054 out of which the 5,200 disbursements were made, leaving the number of those that have been approved but yet to get disbursement, at 854. The number of unqualified applicants for the batch stood at 721.
An advisory from the Ministry revealed that some applications were turned down because the applicants did not provide valid or correct contact details for communication on further steps in the loan application; or had existing AGSMEIS or COVID-19 Loan while some others were more than 35 years old, which puts them beyond the age bracket for youth.
Other reasons are that the applicants had poor credit rating or currently had a non-performing loan with some others failing to provide a valid BVN as well as incomplete or incorrect BVN.
The Ministry wishes to further remind beneficiaries and applicants that the monies disbursed by the Nigeria Youth Investment Fund (NYIF) to the youth are not grants, but repayable loans.
Meanwhile, another batch of 25,000 youth have been pre-qualified for training ahead of final clearance for disbursement with the Ministry disclosing that it was in consultations with other partners to expand the loans disbursement platform so as to fast-track access to the Fund.
Only N3 billion has been provided by the Central Bank of Nigeria (CBN) out of the N12.5billion approved for the first tranche of the NYIF. So far, 54.6 % of the N3 billion has been disbursed.
About 25,000 are lined up for approval, training and eventual disbursement.
News
AWESSA 2026: Customs Assures Border Cooperation for Women Entrepreneurs
By James Samuel, Abuja
The Nigeria Customs Service has said the nation’s borders must become gateways of opportunity for African women entrepreneurs, not obstacles that kill their businesses.
This was disclosed at the African Women’s Economic Sovereignty Summit and Awards (AWESSA) 2026 held at the Customs House, corporate headquarters of the Nigeria Customs Service in Abuja.
Representing the Comptroller-General of Customs, Bashir Adewale Adeniyi, MFR, his representative, an Assistant Controller, said hosting the summit inside Customs premises was deliberate.
“That this summit holds within the Customs premises is no accident. It is a statement of intent,” he said.
“The border is where the promise of every African trader either comes alive or dies quietly. And the men and women of this Service have resolved that for every woman entrepreneur of this continent, that promise will never die.”
He said women account for an estimated 70% of informal cross-border trade in Africa and over half of agricultural labour, yet they face documentation, standards, finance and harassment challenges.
“Too often she meets the border as an obstacle rather than a gateway. Because she trades in small volumes, in cash, in informality without formal papers, capable business women are now trapped in informality, invisible to trade statistics,” he noted.
He added: “AfCFTA will not be delivered by treaties alone. It will be delivered at border posts, in conference halls, and in market stores.”
Also speaking, the Executive Director of the Nigerian Export Promotion Council, Mrs. Nonye Ayeni, represented by a Director, said women are central to Nigeria’s non-oil export sector.
According to her, NEPC’s focus is now on building export- ready competitive enterprises through programmes like the Women in Export Initiative, Export Clinic, and Zero to Export.
“Our focus is no longer on encouraging exports alone, it is on building competitive export-ready enterprises. We are supporting women to move beyond production into value addition, quality assurance, standard compliance, branding and market positioning,” she said.
She said AfCFTA offers a market of over one billion people, but women need knowledge, certifications and institutional support.
“Empowering women economically is one of the most effective tools for achieving poverty reduction, food security, job creation and inclusive growth,” she stated.
The Convener, Helen Okon, who is the Publisher of Business Review Africa & Africa Today Magazine, as well as representatives of NAFDAC DG and NEXIM Bank MD, reaffirmed commitment to supporting women-owned businesses access standards, certification and finance.
The summit, with the theme of positioning women as drivers of trade and sustainable development, is part of activities marking the International Year of the Women Farmer.
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