FG shortlists 10,000 youths for investment loan scheme

The Federal Ministry of Sports and Youths Development on Wednesday said 10,000 youths have been shortlisted out of the three million youths who applied for the Nigeria Youth Investment Fund.

This was disclosed in a statement issued by the ministry’s Youth Development arm in Abuja.

The statement titled, ‘Nigeria Youth Investment Fund: 10,000 youths shortlisted, await training and disbursement’, added that the selected youths would be entitled to loans between N250, 000 and N3m.

It read partly, “The Ministry of Youth and Sports Development stated that out of the ongoing screening of over three million applicants for the NYIF loan, 10,000 have been shortlisted for training by the ministry after which they will be approved for specific amounts.

“With the successful completion of this pilot phase, Nigerian Incentive-based Risk Sharing system for Agricultural Lending has cleared names of another 10,000 for training and subsequent loan approval and disbursement. Loans are in the range of N250, 000 to N3m for now.”

According to the statement, checks that was done include age, BVN, whether or not the individual has an existing government loan or has received COVID-19 business payments.

The PUNCH