NYIF: Minister
NYIF: Minister Tasks Committee on Effective
Implementation Strategy
Minister of Youth and Sports Development, Mr. Sunday
Dare has charged the Ministerial Technical Committee on
Nigeria Youth Investment Fund to carry out their assignment
with dispatch.
Speaking at the inauguration of the Technical
Committee, the Minister said the setting up of the Fund
underscores the absolute confidence the administration had in
the innovative skills, talents and industry of the Nigerian Youth.
”NYIF is expected to serve as a youth bank to fund and
support the enterprise of the Nigerian Youth through loan and
credit pathways.
The idea was driven by the urgent need to accelerate the loan
and finance processes for our talented youth, fund their ideas with
a view of ratcheting up the number of youths that are
entrepreneurs. The government does not envisage that NYIF will be
caught in the same stringent measures that characterize similar
support for youth,but there will be due diligence and best
practices as it is a loan and not grant”.
He reiterated that the NYIF
Ministerial Technical Committee was constituted to facilitate the
effective operationalization and implementation of the Fund.
The Committee is expected to develop implementation
strategies and roll out; road map and funding sustenance,
advise on implementation structure, define roles of
stakeholders, work out and recommend entrepreneurial
funding. Other mandates include disbursement and recovery
strategies and the possibility of legislating the
Fund.
The members of the Committee drawn from relevant
Ministries, Departments and Agencies is Chaired by the Permanent
Secretary Ministry of Youth and Sports
Development Mr. Gabriel Aduda, who will report to the
Steering committee chaired by the Minister of Youth and
Sports Development.
Responding on behalf of the Committee, , Mr. Aduda
expressed appreciation to the President and the
Minister for the opportunity to serve , assuring that the
Committee will come up with robust modalities for the operation of
the NYIF.
Other members of the Committee are, but not limited to the
following:
a. Director- Enterprise Develpt. & Promotion Dept, FMYSD. –
Member
b.Mrs. Yewande Sidiku, DG, Nigerian Investment Promotion
Commission- Member
c. Mr. Yusuf Gila, Director, Develpt. Finance (CBN) & one other
rep. Of CBN
d. Femi Adeagbo, Adviser on Innovation Devlpt. To the FMYSD –
Member
e. Barrister Ismaeel Ahmed, SSA to President on Social
Investment. – Member
A.B. Lere-Adams
Director-Press/
Media Office of the Minister of Youth and
Sports Development