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FEC approves N75b for ‘youth bank’

* The Youth Investment Fund to support enterprises among 68 million 'young persons' in Nigeria

 

The Federal Executive Council (FEC) has approved the establishment of a Nigerian youth investment fund for N75 b.

The ‘youth bank’ is created to support youth enterprise among Nigeria’s 68 million youth between ages of 18 and 35.

The Minister of Youths and Sports, Sunday Dare disclosed this to State House Correspondents at the over eight hours meeting.

According to him, youth within this age group with genuine business ideas are to pitch their ideas in any of the 125 micro credit banks across the country and qualified candidates will have access to the funds.

Dare assured that just as the N-power programme, the process is digital and will be fair to all youth aged 18 – 35 regardless of their ethnicity or social status.

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