The Federal Government has said it received 80,000 applications within 72 hours of opening the portal for the re-launched N110bn National Youth Investment Fund (NYIF).

The government said the overwhelming response underscored the strong enthusiasm and interest among Nigerian youths in accessing the fund to support their entrepreneurial and innovative endeavors.

The Minister of Youth Development, Dr. Jamila Bio-Ibrahim disclosed this during a town hall meeting with stakeholders from the North Central in Abuja.

In a statement by the Director, Information and Public Relations, Omolara Esan on Tuesday, the minister added that the ministry is encouraged by the response and was committed to ensuring a fair and transparent selection process to support the most deserving and impactful projects.

She said: “The NYIF will create focused financing and funding mechanisms for youth-enabled businesses and innovations to keep our youth gainfully engaged in productive ventures. To maximise impact, the programme has been restructured to focus on existing high-potential businesses and create strategic clusters that will generate up to two million direct and indirect jobs in three years.”

The minister noted that the present administration of President Bola Tinubu placed great importance on forming strategic partnerships and fostering collaborative efforts as essential components for successfully achieving the outlined goals.

She said: “All stakeholders, including government at all levels, the private sector, traditional and religious leaders, civil society, and the media, are urged to join us in mobilising youth across all social strata to benefit from the NYIF. Together, we can foster an environment where young entrepreneurs are given the necessary support to thrive, drive economic growth, and build the desired future for our dear nation.

“I am inviting you to chart the course of this initiative, as you grab the opportunity to scale up your businesses for national prosperity. To ensure inclusivity, I am taking this message to every part of the country, especially the grassroots. Join hands with me to actualise this mission as part of the Renewed Hope Agenda of President Bola Ahmed Tinubu for the Nigerian youth.”

The minister explained that NYIF was a strategic initiative of the Federal Government aimed at harnessing the potential of Nigerian youths for economic growth and innovation, focusing on the development and empowerment of young entrepreneurs nationwide.

Chairman, National Youth Council of Nigeria, Sukubo Sara -Igbe Sukubo commended the President for his steadfast commitment to enhancing the well-being of Nigerian youth.

While highlighting the significant progress achieved in socio-economic, human, and infrastructural development within a short timeframe, he pleaded with Nigerians to exercise patience with the federal government.

He expressed optimism that the country would soon overcome the present challenges.

He said youths were central to the policies of President Tinubu’s Renewed Hope Agenda for its successful implementation during this period of economic recovery. (The Nation)

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