Nigeria Youth Investment Fund (NYIF) – an economic empowerment programme of the Federal Ministry of Youth and Sports Development – has disbursed loans to at least 4,680 beneficiaries amounting to N1.31billion out of the first tranche of N12.5 billion.
Latest report from NYIF partner, NIRSAL Micro Finance Bank (NMFB), shows that the beneficiaries, who received the loans as at the end of April 2021, are spread across the country and critical sectors of the economy.
The beneficiaries have commended the ministry for surmounting the initial challenges to make the disbursements possible.
According to a statement by the Director of Press, Mohammed Manga, “the ministry wishes to assure applicants that more disbursements will be achieved in the coming weeks, to ensure that the objectives of the programme are achieved.