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.
The Ministry made the disclosure in a statement signed by the Director of Media , Mohammed Manga.
He said the 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 beneficiaries commended the Ministry for surmounting the initial challenges to make the disbursements possible.
” We are assuring applicants that more disbursements will be achieved in the coming weeks to ensure that the objectives of the programme are achieved”.