Some Nigerians have expressed their displeasure as Federal Government (FG) announced it has disbursed 165.7 million naira to 239 beneficiaries who applied for the Nigeria Youth Investment Fund (NYIF).
According to the update by the FG, over 3 million applications for the NYIF have been received so far, while 239 have received the loan.
This development has attracted wide criticisms by Nigerians who are displeased about the “shady process” of the programme.
Recall that TheNewsBeam explained “How to apply for the 25 billion naira youth investment fund.” Some applicants who applied for the programme have lamented that the selection procedure was not transparent.
Reacting to the FG’s announcement in a tweet, @HbZakshi said that: “We can’t access this, even the free business registration by the Corporate Affairs Commission (CAC); the Focal persons are saying it’s still in the process while CAC is saying people are already registered. Nigeria if you don’t know anyone, just forget it.”
In the same vein, @AbeebFajobi said that for “accountability and transparency publish the names of 239 beneficiaries. Most of us registered we don’t even get a feedback email after the completion of our registration.”
@TaiwoSAdebanjo complained that he has not been contacted since he applied. He said “Then why haven’t I been contacted or at least get a feedback email from the Federal Ministry of Youths. What are the criteria you use to pick those that will receive the loan and why we that get nothing get nothing? It’s a shame”
@Qqhaddieminaj confirmed that he received a message notifying him that he had got a loan of 180k which is yet to be paid into his account.
@Qqhaddieminaj: “Not me please, I applied, was sent a message that i got 180k loan, asked me to submit my account number which I did since November till date I’m yet to receive anything, after making all my business plan, o dun mi oh”. (sic)
@IMDONMICHAEL1 said “aome of us have applied and went as far as done our business registration with CAC yet there’s no invitation asking us for our Bank account for the loan.”
Another Nigerian, @Iam_savedworld, said on Twitter: “What happened to us that haven’t received invitation for the training? As we were told until we are trained before getting access to apply.”
@OndaDeRock1 complains that: “the figure is too low na, 239 out of 3million. Make Una consider us na, abeg” (sic).
However, some Nigerians are of the view that providing funds is not the best way to cushion the rate of poverty and unemployment in the nation.
@thekingswisdom2 tweeted “believe me as wonderful as this might sound, this is not what Nigerian youths really want. Just provide them with enabling environment, you will see them soar. We are not lazy to wanting free money or soft loan from government of Nigeria we know too well.”
@Queenla03425347 also, supported this view, “you said my mind, money that does not cater for our needs. They should stop feeding us fish, provide good river so we can go into fishing ourselves. Small request, they cannot grant.”
Nigeria Youth Investment Fund (NYIF) is an empowerment initiative by the Buhari-led administration. The initiative is targeted at Nigerian Youths across the country. The sum of N25 billion has been budgeted yearly for the next three years in order to support youths with entrepreneural skills across the country.