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Youth Minister Empowers Artisans With Cash And Tailoring Equipment’s

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In his continued efforts to eradicate poverty and improve the living standards of the people of Oyo State, the Minister of Youth and Sports Development, Chief  Sunday Dare on Friday empowered over 20 Oyo State Indigenes with cash and Tailoring equipment.

The cash and equipment were handed over to the beneficiaries at the Minister’s office in Ogbomoso, Oyo State.

Dare who was represented by his wife, Chief (Mrs.) Kemi Dare explained that the Minister is determined to improve people’s lives through job creation.

 She enjoined the beneficiaries to make good use of the cash and the tailoring equipment properly.

Speaking at the event, Media Aide to the Minister Mr. Kola Daniel stated that the gesture is in line with the Minister’s continued charity work of over 2 decades which predates his foray into politics with thousands of beneficiaries across Nigeria.

He further stated that the Minister’s gesture was a fulfillment of his personal vow to God to always give back to the society by touching the lives of the downtrodden.

Minister urged to the beneficiaries to make good use of the cash and equipment.

Also speaking at the event, Olori Nike Olugbodi said the Minister as a son of the soil believes in teaching people how to fish instead of always giving them fish. She urged them to use the cash and  the equipment  for the purpose they are meant.

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Youth Ministry Clears Doubt On NYIF Disbursement

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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.

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