The Ministry of Youth and Sports Development’s Nigeria Youth Investment Fund (NYIF) has disbursed loans to at least 4,680 beneficiaries amounting to N1.31billion out of the first tranche of N12.5 billion.
A statement by the Director of Press and Public Relations of the ministry Mohammed Manga said 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.
He said the ministry has received commendations from the beneficiaries for surmounting the initial challenges to making the disbursements possible.
The statement assured the applicants that more disbursements will be achieved in the coming weeks so that the objectives of the programme are achieved
