FEC approves restructuring of N75bn Nigerian Youth Investment Fund, makes additional provisions

The Federal Executive Council (FEC) yesterday approved the restructuring of the Nigerian Youth Investment Fund with additional provisions made to that effect. Minister of Youth Development, Jemila Bio Ibrahim, who disclosed this to newsmen shortly after a meeting of the council at the State House, Abuja, said the N75 billion fund, which was originally established in 2020, will now be institutionalized. According to her, the Fund will receive N25 billion from the 2024 supplementary appropriation while the Central Bank of Nigeria will release an additional N60 billion to it. Jamila also said FEC okayed the institutionalization of a 2 percent youth quota in all government appointments and women representation of 30 percent.