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Minister Gives Technical Committee On NYI Fund Two Weeks To Deliver On Assignment 

 

The 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 with an 8 week mandate to deliver.

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,” the Minister said. 

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, 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.

Members of the Committee include: 

a. Director- Enterprise Develpt. & Promotion Dept, FMYSD. – Member
b.Mrs. Yewande Sidiku, DG, Nigerian  Investment Promotion Commission- Member
c. Mr. Yusuf Gila, Director, Development Finance (CBN) & one other rep. Of CBN
d. Femi Adeagbo, Adviser on Innovation Development. To the FMYSD – Member
e. Barrister Ismaeel Ahmed, SSA to President on Social Investment. – Member
g. Ife Adebayo, S.A Innovation & Entrepreneurship OVP – Member
I. Babatunde  Akpeji, SA, Minister of Youth & Sports Devlpt. – Member
j. Mr. Serese Victor, Group Manager, NSIA Authority – Member
k. Mr Sunny Azaki, Youth, MFCT, Member
l. Prof. Mukhtar Halliru, Prof. of Management, Bayero University, Adviser at Large to the Minister of Youth & Sports Devlpt. On Marketing and Devlpt.  – Member
m. Aisha Aguie- Kuta SA (Digital Communication, HMFBNP) Rep. Of Minister of Finance, Budget & National Planning – Member

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