The Federal Government on Monday, approved the sum of N110 billion for running of the operation of newly restructured ‘Youth Development Fund’ and investment in agricultural Small and Medium Enterprises (SMEs).
Minister of Youth Development, Jamila Ibrahim, who disclosed this while interacting with State House correspondents after the Federal Executive Council (FEC) meeting at the Aso Rock Villa, Abuja, said council had allocated N25 billion each in the 2023 supplementary and 2024 budgets, with an additional N60 billion which will come from the Central Bank of Nigeria (CBN).
The Minister explained that though the Nigerian Youth Investment Fund was established in 2020, the current administration had commissioned a technical committee to review and restructure it with the aim of institutionalising it through a legal framework, which will lead to the establishment of the Nigerian Youth Fund.
