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Federal Ministry of Youth and Sports Development Debunks false allegations

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Federal Ministry of Youth and Sports Development Debunks false allegations

Federal Ministry of Youth and Sports Development Debunks false allegations

The FMYSD on Tuesday said its attention was drawn to a mischievous and ignorant allegation made by a discredited and self-acclaimed President of the National Youth Council of Nigeria (NYCN), which was circulated, syndicated  and reported by some newspapers on the alleged misappropriation of 75billion Naira Nigeria Youth Investment fund (NYIF) with no effort made to ascertain the facts. 

The Ministry said there is no N75B released. 

The Ministry states that: “ Approval for NYIF was for 25B per annum for 3 years. 2021 is the first year and only 3B has been released and less than N2 billion disbursed as part of the ongoing process. Over 5,200 youth have benefited. The disbursement was handled solely by CBN and NIRSAL. Not a kobo was released to the account of the Federal Ministry of Youth and Sports. 

Also Read: Residents of Gulani Protests Lack of Electricity in Yobe

“Names of the 5,200 beneficiaries can be found on the official website of the Ministry of Youth and Sports Development  as published In June 2021.  The names were also published in the Nation newspapers of June 21, 2021.

“For the records, approval for NYIF was for N25 billion annually for 3 years, amounting to N75 billion. 2021 is the first year and less than N3 billion has been released.  

“Under this first phase disbursed by the NIRSAL Microfinance Bank, 5,285 beneficiaries got soft loans with a total value of N1,661,370,000.00. The amount represents 55.38% of the N3 billion provided by the Central Bank of Nigeria (CBN) for the first phase.  

“The total number of undisbursed and unqualified applicants for the phase stood at 769 valued at N599,485,000.00. Of these numbers, 322 are yet to accept the loan offer, 26 failed NUBAN 149 failed payment, one (1) applicant rejected the loan offer and 587 are yet to apply for the loan via the NMFB loan application portal.

“The Ministry had transparently declared that some applicants were not qualified for loan disbursement because they did not provide valid or correct contact details for communication on further steps in their application; applicant has existing AGSMEIS or COVID-19 Loan and that an applicant is older than 35 years old, which puts them beyond the age bracket for youth.

“Other reasons are that the applicant has a poor credit rating or currently has a non-performing loan, applicant failed to provide a valid BVN and provided incomplete or incorrect BVN. This information is in the public domain. 

“Beneficiaries and applicants have been consistently reminded that the Nigeria Youth Investment Fund (NYIF) disburses repayable loans to the youth and not grants.

“It is unfortunate that the 36-year so-called Solomon Adodo ignored the well-publicized information about the NYIF and opted to mislead the media organizations that published his lies. The period during which he was remanded in Suleja Correctional Centre for impersonating the NYCN President was not prolonged enough for him to have missed the publication of these facts.”

Federal Ministry of Youth and Sports Development Debunks false allegations

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Nigeria@65: FG’s programmes improving welfare of Nigerians- NOA

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Nigeria@65: FG’s programmes improving welfare of Nigerians- NOA

The National Orientation Agency (NOA), on Wednesday said that the Federal Government’s programmes and policies under President Bola Tinubu-led administration were improving the welfare of Nigerians.

Mrs Adaline Patari, the State Director of NOA, Gombe State office, stated this shortly after a road show to mark Nigeria’s 65th Independence Day anniversary in Gombe.

Patari said that programmes and policies of Tinubu-led administration had supported many Nigerians from the student’s loan to conditional cash transfer to support to small businesses amongst others.

She stated that the initiatives by the present administration had restored hope and put the country amongst serious countries pursuing better reforms to improve their economy while revamping infrastructure.

According to her, many undergraduates benefitting from the student’s loan scheme which has removed all financial hindrances impeding access to tertiary education now feel a sense of belonging.

She said that the programmes and policies of the Federal Government have benefitted many households and improved their welfare in line with the Renewed Hope Agenda of President Tinubu.

“The reforms of the Federal Government are working and many persons are proud to be Nigerians and more persons are now trying to do the right things as Nigerians.

“People are beginning to see themselves as proud Nigerians and that confidence of being a Nigerian is being restored.

“Today, many Nigerians are benefitting from the programmes of the current administration, this means that the country is now working for them,” she said.

While acknowledging that there were still challenges that needed to be addressed, Patari said, at 65, we have made tremendous progress especially working together in peace and unity.

She urged Nigerians to continue to support Tinubu administration’s programmes towards building a better country that works for all Nigerians.

The state director said that with the necessary reforms being carried out and already yielding results in the economic, agriculture, security and other sectors, more Nigerians would be prouder to be Nigerians in the future.

“Today, the country is progressing and we are united; we are now prouder to be Nigerians and I can tell you that the labour of our heroes past, indeed is never in vain,” she added.

Commending the contributions of youths to national development, Patari urged them to have a positive mind-set towards Nigeria and to always express optimism of a better Nigeria for everyone.

Patari also lauded the renewed strength with which NOA under the Director General of the agency, Malam Lanre Issa-Onilu was being driven.

She said that government’s policies and programmes were getting more supports from Nigerians because of the constant engagements of Nigerians by the NOA nationwide.

The event also featured sensitisation of residents on Federal Government’s policies, programmes and the need for the people to support the current administration’s Renewed Hope Agenda

Nigeria@65: FG’s programmes improving welfare of Nigerians- NOA

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Nigeria, European Union hold inaugural Trade and Investment Dialogue

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Nigeria, European Union hold inaugural Trade and Investment Dialogue

By: Michael Mike

Senior Government officials of the Federal Republic of Nigeria and the European Union (EU) have today met in Abuja to assess the vibrant economic partnership between the two parties and chart a way forward.

The inaugural Nigeria-EU Senior Officials Trade and investment Dialogue (TID) was anchored by the Permanent Secretary, Federal Ministry of Industry, Trade and Investment (FMITI), Ambassador Nura Abba Rimi, and Director of the European Commission’s Directorate-General for Trade and Economic Security (DG TRADE), Ms Dora Correia,

The Minister of Industry, Trade and Investments, Dr. Jumoke Oduwole, and the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot,, welcomed the launch of the Dialogue, which they said underscored the growing importance attached to trade and investment in the EU-Nigeria partnership.

This Senior Officials’ meeting marks an important step in strengthening the trade and investment partnership between the EU and Nigeria, and provided opportunity for the officials to exchange views on areas of mutual interest; address potential challenges and explore opportunities for further collaboration.

Discussions focused on a range of issues, including trade and investment policy, cooperation on market access barriers and requirements, preferential trade and investment arrangements, investment, collaboration within the World Trade Organization (WTO), regulatory measures that could impact trade and investment, and the identification of trade and investment-related development cooperation areas.

Both sides expressed their interest to continue the Dialogue, with the second TID billed to take place in Brussels, Belgium, in 2026, on a date to be jointly decided.

Nigeria, European Union hold inaugural Trade and Investment Dialogue

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FG Declares Wednesday, Oct. 1 Public Holiday to Marks 65th Independence Anniversary

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FG Declares Wednesday, Oct. 1 Public Holiday to Marks 65th Independence Anniversary

By: Michael Mike

The Federal Government has declared Wednesday, 1st of October as a public holiday to commemorate Nigeria’s 65th Independence Anniversary.

The Honourable Minister of Interior, Hon. Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government, congratulated all Nigerians both at home and in the diaspora on this historic occasion.

Tunji-Ojo, in a statement by the Permanent Secretary, Ministry of Interior, Dr. Magdalene Ajani, enjoined citizens to continue to uphold the patriotic spirit, unity, and resilience that have sustained the nation since independence in 1960.

He urged Nigerians to further keep faith in the Renewed Hope Agenda of President Bola Tinubu, which is anchored on national rebirth, economic transformation, and collective prosperity.

The Minister expressed confidence that, with the cooperation of all Nigerians, the country will continue to grow stronger in peace, progress, and development.

He wished Nigerians a happy and memorable 2025 Independence Day celebration.

FG Declares Wednesday, Oct. 1 Public Holiday to Marks 65th Independence Anniversary

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