The Federal Government (FG) says it has shortlisted 10,000 out of the three million youths who applied for the Nigeria Youth Investment Fund.
This was contained in a statement issued by Kola Daniel, media aide to the Minister of Youths and Sports Development, Sunday Dare, on Wednesday.
According to the statement, the selected youths would be trained after which they would be entitled for loans between N250,000 and N3m.
The statement reads: “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.
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“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.
“These names are available on the FMYSD website and NOYA website. Checks done include Age, BVN whether or not the individual has an existing government loan or has received covid 19 business payments.
“All approved applicants will undergo training to ensure efficient use of the loan, therefore, increasing the yield and growth the loan can deliver to the intended business owner.”