Will Nigeria's Youth Investment Fund Defuse Jobs Time Bomb?

The Central Bank of Nigeria has released the guidelines for the Nigeria Youth Investment Fund (N-YIF) with a take-off seed capital of U.S.$32,9 million. The scheme seeks to improve access to finance for youth and youth-owned enterprises for national development. It will also seek to generate much-needed employment opportunities, and boost  managerial capacity. Youth unemployment has posed a huge challenge for the government. Obinna Chima writes in This Day that the unemployment rate as of the second quarter of 2020 stood at 27,1%, according to the National Bureau of Statistics. This means that more than 22 million Nigerians are presently unemployed, with 13,9 million being young people.

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