NYCN frowns on poor number of youth accessing N75bn Nigeria Youth Investment Fund

The National Youth Council of Nigeria (NYCN) has expressed sadness over the inability of Nigerian Youth to access the N75 billion Nigeria Youth Investment Fund (NYIF), set aside by the present administration for the youth to tap into.

The National President of NYCN, Comrade Solomon Adodo during a National Youth Economic Summit in commemoration of National Youth Day in Abuja, said there was a lack of coordination, information and transparency surrounding the disbursement process.

He called on the Minister of Youth and Sports Development, Sunday Dare to inform the Nigerian youth on the status of the fund.

“The findings of NYCN show that many young people built their businesses through the loans and grants from the Central Bank of Nigeria or some of its agencies like Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL); Bank of Agriculture (BOA) Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) etc.

“There have also been very deliberate Youth Intervention programmes through training and empowerment by the Federal Ministry of Communications and Digital Economy.

“In all this, one intervention that is very huge and was to offer a lot of innovation and productivity is the Nigeria Youth Investment Fund (NYIF), with N75 billion earmarked to stimulate economic activities in the youth constituency. Sadly, the NYIF has performed very abysmally.

“It lacks coordination, information, transparency and there are a lot of confusion created to frustrate it. It is important that the Minister of Youth and Sports Development, Mr Sunday Dare, informs the masses of the Nigerian youth of the status of things with the fund.

“For us in the NYCN, we consider it an unpardonable sabotage of President Buhari’s good fatherly intention for the youth, and a treachery to our national aspiration in quality youth development”, he said.

He said the NYCN also observed general poor advocacy on these youth intervention programmes/projects initiated and executed under Mr President.

He said the focus of the summit with the theme Enhancing Partnerships for Strengthening the Economy through Youth Innovations and Productivity is to appraise the youth intervention programmes/projects of the President Muhammadu Buhari Administration.

Adodo, therefore, called on the executing agency of the programmes and projects to rise to the occasion and syndicate with all concerned stakeholders for a progressive partnership.

During his presentation, former Secretary of Aso Villa Chaplaincy, Professor Yusuf Obaje said the youth remain the hope of any country.

He said the national economy is extremely important, and without it, there can be no joy of satisfaction for the citizens. He, therefore said the theme of the summit is in the right direction.

“National economy has to do with the resources, what means of production, distribution and indeed the economic dreams of the people as such, it has seven main pillars, national ideology, national economic dream, national economic philosophy, national economic policy, national economic implementation strategy, national economic monitoring programme and national economic futuristic plan.

“I dare to say that it is not a criticism of a particular government, Nigeria for years has no clearly defined national economic policy, and that is because this nation as we know has no national ideology,” he noted.

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