FG Inaugurates Office to Manage N110B Nigerian Youth Investment Fund
Maryam Aminu
The Federal Government has officially inaugurated a Project Management Office (PMO) to oversee the implementation of the N110 billion Nigerian Youth Investment Fund (NYIF).
The PMO, comprising technical experts from both the public and private sectors, will manage the fund aimed at empowering young Nigerians.
The inauguration ceremony took place at the Ministry of Youth Development in Abuja, where the Hon. Minister, Dr. Jamila Bio Ibrahim, emphasized the importance of the NYIF in achieving President Tinubu’s ‘Renewed Hope Agenda’.
The fund aims to provide young innovators with capital to start, grow, and expand their businesses, thereby fostering sustainable economic growth and increasing access to capital.
Dr. Ibrahim outlined the expectations for the PMO, stressing the need for strategies that ease financial burdens on Nigerian youth, enhance their entrepreneurial skills, and provide access to markets and mentorship.
She emphasized the significance of professionalism, fairness, and integrity in the implementation of the NYIF, and called for timely, results-based updates from the PMO.
“The fund is crucial for eradicating poverty, ensuring food security, and promoting sustainable economic growth,” said Dr. Ibrahim.
“We must develop effective strategies to support the youth in becoming self-employed and thriving in a challenging business environment.”
The Permanent Secretary Mr. Olusanya Olubunmi, in his welcome address, tasked the PMO with ensuring the NYIF meets its objectives while adhering to Public Service Rules and Financial Regulations.
He assured the PMO of the Ministry’s full cooperation and support.
Also speaking, the National Coordinator Olopade Hakeem expressed gratitude to President Tinubu for prioritizing youth empowerment and thanked the Executive Council for approving the substantial funding.
He committed to transparent and accountable management of the fund, welcoming ideas to further the project’s goals.
The NYIF aims to include vulnerable and underserved communities, ensuring a swift application and fund disbursement process.
Dr. Ibrahim expects the PMO to deliver short-term results within the next three to four weeks, initiating the first tranche of disbursement.
He reiterated the Ministry’s dedication to supporting Nigerian youth through the NYIF, fostering a new generation of entrepreneurs and leaders.
Maryam Aminu
The Federal Government has officially inaugurated a Project Management Office (PMO) to oversee the implementation of the N110 billion Nigerian Youth Investment Fund (NYIF).
The PMO, comprising technical experts from both the public and private sectors, will manage the fund aimed at empowering young Nigerians.
The inauguration ceremony took place at the Ministry of Youth Development in Abuja, where the Hon. Minister, Dr. Jamila Bio Ibrahim, emphasized the importance of the NYIF in achieving President Tinubu’s ‘Renewed Hope Agenda’.
The fund aims to provide young innovators with capital to start, grow, and expand their businesses, thereby fostering sustainable economic growth and increasing access to capital.
Dr. Ibrahim outlined the expectations for the PMO, stressing the need for strategies that ease financial burdens on Nigerian youth, enhance their entrepreneurial skills, and provide access to markets and mentorship.
She emphasized the significance of professionalism, fairness, and integrity in the implementation of the NYIF, and called for timely, results-based updates from the PMO.
“The fund is crucial for eradicating poverty, ensuring food security, and promoting sustainable economic growth,” said Dr. Ibrahim.
“We must develop effective strategies to support the youth in becoming self-employed and thriving in a challenging business environment.”
The Permanent Secretary Mr. Olusanya Olubunmi, in his welcome address, tasked the PMO with ensuring the NYIF meets its objectives while adhering to Public Service Rules and Financial Regulations.
He assured the PMO of the Ministry’s full cooperation and support.
Also speaking, the National Coordinator Olopade Hakeem expressed gratitude to President Tinubu for prioritizing youth empowerment and thanked the Executive Council for approving the substantial funding.
He committed to transparent and accountable management of the fund, welcoming ideas to further the project’s goals.
The NYIF aims to include vulnerable and underserved communities, ensuring a swift application and fund disbursement process.
Dr. Ibrahim expects the PMO to deliver short-term results within the next three to four weeks, initiating the first tranche of disbursement.
He reiterated the Ministry’s dedication to supporting Nigerian youth through the NYIF, fostering a new generation of entrepreneurs and leaders.
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