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.
Foreign news
Diplomatic Community in Nigeria Joins Italian Envoy in National Day Celebration

By Joel Ajayi
It was a vibrant evening of joy, connection, and cultural celebration as the Acting Ambassador of Italy to Nigeria, Mr. Iacopo Foti, hosted members of Nigeria’s diplomatic community in Abuja to commemorate Italy’s National Day, la Festa della Repubblica.
Held in the heart of Nigeria’s capital, the event was a memorable gathering marked by laughter, heartfelt exchanges, and a shared appreciation for the enduring ties between Italy and Nigeria.
In his address, Mr. Foti described the occasion as a time to reflect on the core values that define Italy: liberty, democracy, justice, and the enduring creativity and resilience of its people.
“It is a day to celebrate our rich history, our unparalleled cultural heritage, and our contributions to art, science, and innovation,” he said. “But beyond Italy, today we also celebrate the strong and growing bonds between the Republic of Italy and the Federal Republic of Nigeria — our economies, our cultures, and above all, our people.”
The ambassador emphasized the depth of the bilateral relationship, recalling that diplomatic ties between Italy and Nigeria were established on February 20, 1960. He noted that since the 1970s and 1980s, Nigeria has become a second home for many Italians who have contributed significantly across various sectors.
“We are proud to be part of this welcoming and vibrant society,” he said. “I have personally witnessed the dedication, entrepreneurial spirit, and warmth of the Nigerian people, as well as their hospitality toward the Italian community.”
Looking ahead, Mr. Foti expressed optimism about the future of Italy-Nigeria relations, pointing to untapped opportunities for deeper economic cooperation, technological collaboration, and cultural and academic exchange.
“Nigeria is a cultural powerhouse, a leader in Africa and globally in art, literature, and film,” he remarked. “Italy, with its deep-rooted cultural legacy, is eager to expand its engagement with Africa, and particularly with Nigeria.”
He acknowledged the growing Nigerian interest in Italian culture — from fashion and design to cinema and tourism — while noting that Italy hosts the third-largest Nigerian diaspora community globally, after the United States and the United Kingdom.
The ambassador also highlighted the countries’ cooperation on global challenges such as climate change, peace and security, migration, and human trafficking. Both nations are signatories to the Paris Agreement and active participants in global policy dialogues.
“Our relationship is built on mutual respect and understanding,” he noted. “We see this in our economic ties, cultural exchanges, love for football, and the increasing number of Nigerians who study and travel to Italy, as well as Italians drawn to Nigeria’s rich history and culture.”
He pointed out the many shared qualities between Italians and Nigerians, from strong family values and communal bonds to a vibrant fashion industry and a dynamic film sector.
“We are both historically migrant societies that have achieved success abroad while keeping close ties to our homeland,” Mr. Foti said. “We share humor, resilience, and a deep appreciation for life’s ironies.”
Addressing the issue of stereotypes, he cited renowned Nigerian author Chimamanda Ngozi Adichie, saying: “The single story creates stereotypes, and the problem with stereotypes is not that they are untrue, but that they are incomplete.”
He concluded by expressing gratitude for the support of Nigerian authorities and all who attended the celebration.
“On behalf of the Italian government and the people of Italy, I extend my sincere thanks to everyone who joined us. Your presence is a testament to the strength of our friendship and our shared future.”
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