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Application for FGs N75bn youth investment fund opens

The Minister of Youth and Sports Development Minister, Mr Sunday Dare, on Thursday, inaugurated the application for the Nigeria Youth Investment Fund in Abuja.

The Federal Executive Council on July approved the Nigeria Youth Investment Fund to the tune of N75bn spread over three years to cater to youth owned businesses and investment need.

Youths applying as individuals or non-registered businesses would be able to draw up to N250,000, while youth owned registered businesses could apply for up to N3m, he said.

According to him, the loans have five years tenure with moratorium of up to 12 months.

He said NISRAL Microfinance Bank was selected as disbursement agency, given its reach and spread which would ensured that youths have access to apply for the fund.

4 comments

Newan Nannak October 16, 2020 at 12:00 pm

Such a good one to my great Nation

Reply
Shuaibu ISA October 16, 2020 at 9:58 pm

I want to expand my business

Reply
Arma Y ibrahim umar October 18, 2020 at 1:24 am

Good

Reply
Martin October 18, 2020 at 8:14 am

Loan in form of… They will payback or as grant
Hmm anyway Jar bless

Reply

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