More than one million Nigerians have already applied to receive
the federal government survival grant about three weeks after the
portal opened.
This was confirmed by President Muhammadu
Buhari in a tweet where he wrote:
“Over a million applications have already been received
since the 75 billion Naira Nigeria Youth Investment Fund (NYIF)
Portal went live on Oct 12, 2020. This Fund will invest in the
innovative ideas, skills and talents of young Nigerians.”
retwtr.com understands the government
plans to give cash grants ranging from N250,000 to N50, 000,000 for
individual and group applications to Nigerians with the expectation
that such funds will be used to invest in business ideas and boost
the economy.
The target is 500,000 youths each year.
Meanwhile, the federal government has announced a new website
for Nigerians to access the Macro, Small, and Medium Enterprises
(MSMEs) Survival Fund.
The government had explained that the fund is to cushion the
impact of COVID-19 on Nigerians through the Micro, Small and Medium
Enterprises, MSMEs, supportive initiatives.
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This, it plans to do by making available N75bn for Nigerian
Micro, Small, and Medium Enterprises as 100% grants.
Registration for the fund began earlier but those who wished to
apply had been having difficulties registering for the funds.
This prompted the government to announce a fresh
website for Nigerians to access the fund, noting that the
new portal will open on Sunday, 1st November, 2020.
Mariam Katagum, Minister of State for Industry, Trade, and
Investment, gave the update in a statement on Saturday, noting that
operational challenges are responsible for the change.
The new website can be accessed here.
The post Over 1 Million Nigerians Apply For N75bn Survival Fund
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