The Federal Ministry of Sports and Youths Development says it has shortlisted 10,000 youths that will receive the Nigeria Youth Investment Fund (NYIF) out of the three million youths who applied.
The ministry said in a statement issued in Abuja on Wednesday, said the beneficiaries will be entitled to loans between N250,000 and N3million.
It said, “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, NIRSAL 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 done included age, BVN, whether or not the individual had an existing government loan or had received COVID-19 business payments.
It added that all approved applicants would undergo training to ensure efficient use of the loans.
