N70 billion Investment Fund: NYO commends Buhari for setting up fund

The Nigeria Youth Organization (NYO) has commended President Muhammadu Buhari for setting up Nigeria Youth Investment fund (NYIF), saying that the development would curb unemployment and social vices among the youths.

Reacting to the N70 billion Nigeria Youth Investment Fund, the youth body said, it took cognizance of the role the Minister of Youth and Sports, Sunday Dare, played for the establishment of the fund, adding that youths would be mobilised to take advantage of the fund.

In a statement issued on Thursday and made available to CAPITAL POST in Abuja, the National Secretary General of the group, Comrade Duke Alamboye said, the initiative was novel in the annals of the Nigerian history, calling all relevant agencies to make commitment without fail.

Part of the statement read: “The organization also notes with satisfaction, the role of the Minister of Youth and Sports, Mr. Sunday Dare, describing him as “a very pragmatic and visionary leader”, whose unique proposal on the Youth Investment Fund gained approval of the Federal Executive Council.

“Highly pleased with the establishment of the fund, the organization which prides itself as a Non-Governmental Organization, with spread and numerical strength of youths in the Thirty-Six (36) States of the Federation, states that its members with the requisite innovations, skills and novel knowledge shall maximally utilize the fund to empower its teeming members.

“The Nigeria Youth Organization (NYO) also lauds the Nigeria Youth Investment Initiative of the President Muhammadu Buhari-led administration, as the first of its kind in the political history of Nigeria, stressing that the fund shall create a great opportunity for Nigerian Youths to access government support for the special credit and finance.

“The NYO hereby call on the Ministry of Youth and Sports, Central Bank of Nigeria (CBN), the Ministry of Finance, Budget and National Planning, the Bank of Industry (BOI), Fintech Oraganizations, Venture Capital organizations, as well as Microfinance Institutions to ensure judicious utilization of the fund, as part of President Muhammadu Buhari’s led Federal Government to combat youth involvement in crimes and social vices, as well as drive innovation and enhance entrepreneurship for Nigerian youths.

“In the light of this noble development, the Nigeria Youth Organisation (NYO), has also mapped out strategic plans to embark on accelerated training and orientation programmes on financial management and business development, in order to make them access the funds, in partnership with other NGOs.

The NYO applauds the ongoing process of employment generation initiative for the youths via the viable instrumentality of the 774,000 job initiatives spearheaded by Barr. Festus Keyamo, a young, ebullientt and vibrant Minister of State for Labour and Productivity.