The Ministry of Youth and Sports Development has set up a focal group on the newly-approved Nigeria Youth Investment Fund.
According to a statement released by the Media Office of the Honourable Minister of Youth and Sports Development on Monday, the focal group is an assemblage of youth leaders and groups from diverse fields, entrepreneurial experts and individuals with youth development and finance experience.
PREMIUM TIMES earlier reported how President Muhammadu Buhari approved the establishment of a N75 billion Nigeria Youth Investment Fund (NYIF) for three years following a memo presented by the Minister of Youth and Sports Development.
In a statement, the Minister of Youth and Sports Development, Sunday Dare, said, “The NYIF is to serve as a sort of Youth Bank that will fund and support the innovative ideas, skills, talents and enterprise of the Nigerian Youth.
“A loan and credit pathway dedicated to assessing credit and soft loans.This is the very first of its kind by any Nigerian government.”
The NYIF focal group is entrusted with processing concerned parties’ views and inputs about the Fund and making the same available to the NYIF’s Technical Committee. The group will also provide valuable feedback on expectations of the youth generally and deliberate on wide ranging issues around youth entrepreneurship and credit access.
The minister, Mr Dare, tasked the Focal Group to “provide useful insights around the challenges faced by youth entrepreneurs and youth with burning ideas and how best they think the fund can assist them. The Nigeria Youth Investment Fund is not just another programme of government. You have the responsibility of coming up with suggestions on how to make NYIF serve the needs of the youth and facilitate turning their ideas into viable businesses, helping them to expand existing businesses.”
The 23-member focal group is led by Oladipo Adebiyi with Samson Itodo, Executive Director of Youth Initiative for Advocacy Growth & Advancement (YIAGA) as deputy team lead.
The membership of the group includes Thomas Enitan Eleoramo, Funds Manager/Investment Banker; Ife Adebayo, SA Innovation & Entrepreneurship Office of the Vice President; Fayo Williams, CEO, Simply Exponential Consult; Mr Abubakar Badre; Olisameka Onyeka; Yetunde Adeniji and Usman Bappa.
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