Over 10,000 youths have registered for the Federal Government of Nigeria Youth Investment Fund. The Federal Government has made available a sum of N110 billion down payment to be disbursed to youths aged 18 to 40 years.
Disclosing this during a meeting with journalists in his office in Calabar, Special Adviser to Governor Bassey Otu on Digital Economy, Philip Obin, said the fund is being administered by the Federal Ministry of Youth Development.
Obin noted that under the initiative, youths who have business ideas but do not have funding can access between N3 million and N20 million, saying, “they are to use the fund to start up their businesses while those who are already in business and want to up Nigeria Youth Investment Fund: N110bn to be disbursed to youths between 18 and and 40.”
He explained that there was a compelling need for people living in flood-prone areas operating their businesses to target marketing strategy channels as well as financial projections.
This, he also said, of course includes how much you intend to access, how much you propose to earn or generate, propose revenue for first, second, and third year, the amount being requested, and how you intend to spend the money.
Obin said: “If you have all of this, the government has mandated his office to register all eligible perseverance and ensure that you are guided through the process and ensure they comply with all the requirements.
“With this, they can be deemed guaranteed of accessing this fund,” stating that in the last whole month, “we have 50 to 100 volunteers who are coming here every other day to register people.”
The SA further disclosed that “we have registered close to 10,000 persons altogether on the programme. We are optimistic that this is one of the best for Cross River.”
He regretted that over the years, they hardly met their quota.
