The Federal Ministry of Youth and Sports Development has appealed to over 22,000 successful applicants to respond to emails approving the disbursement of loans under the Nigeria Youth Investment Fund (NYIF).
In a statement, the ministry said that out of over 25,000 successful candidates, less than 14% (about 3,500) of the newly shortlisted applicants, who are expected to be part of the loan, have confirmed their approval for the soft loan. . Email replied.
The e-mail contains instructions on how to use the funds.
“The email response has been meager. However, other respondents have received money in their PFI designated bank accounts,” he said.
The shortlisted candidates will have to respond to the communication to complete the distribution process. Those who fail to respond to risk lose the opportunity.
The ministry said NYIF is being distributed to youth who have expressed vocational needs in the range of N250,000 to N3 million.
It also said that the names of around 6,000 youth who benefited from the first set of distributions were published in 2020, while 4,375 in the second batch have responded to their loan offer messages and raised their funds.