4,680 BENEFICIARIES RECEIVE NYIF LOAN DISBURSEMENT.... Youth And Sports Ministry Assures Of More Disbursements Soon

"The beneficiaries who received the loans as at the end of April 2021 are spread across the country and critical sectors of the economy".

The Federal Ministry of Youth and Sports Development’s Nigeria Youth Investment Fund (NYIF) has revealed that, so far, it has disbursed loans to at least 4,680 beneficiaries amounting to N1.31billion out of the first tranche of N12.5 billion. 

A statement from the Ministry, signed by the Director, Press and Public Relations Department, Mohammed Manga, disclosed that, latest report from NYIF partner, NIRSAL Micro Finance Bank (NMFB) showed that the beneficiaries who received the loans as at the end of April 2021 are spread across the country and critical sectors of the economy. 

The statement also disclosed that  beneficiaries have commended the Ministry for surmounting the initial challenges to make the disbursements possible. 

Furthermore, the Ministry wishes to assure applicants that more disbursements will be achieved in the coming weeks to ensure that the objectives of the programme are achieved. 

Mohammed Manga

Director (Press & Public Relations)

May 9, 2021