Youth Entrepreneurship Fund Disburses 50 Billion Naira to 25,000 Young Business Owners

The Federal Ministry of Youth and Sports Development has commenced the disbursement of 50 billion naira under the Youth Entrepreneurship Fund, a flagship program of the National Youth Empowerment Agenda. The initiative provides zero-interest loans ranging from 500,000 to 5 million naira to 25,000 young business owners aged 18 to 35, accompanied by mandatory business mentorship and financial literacy training.

The first tranche of 12.5 billion naira has already reached 6,250 beneficiaries across all 36 states and the Federal Capital Territory. Eligible sectors include agriculture, technology, manufacturing, creative industries, and green energy. Each beneficiary is paired with a mentor from a network of 3,000 experienced entrepreneurs and industry professionals who provide guidance for the first 18 months of operation.

I applied with just a business plan for a recycled plastic furniture workshop, said Chijioke Nwosu, a 24-year-old beneficiary from Anambra. Two months later, I had 2 million naira in my account and a mentor who used to run a factory with 200 workers. That relationship is worth more than the money.

An independent monitoring unit tracks repayment rates, business survival, and job creation metrics. Early data shows a 94% repayment rate among the first cohort, well above the 72% average for comparable microfinance programs. Beneficiaries have collectively created over 8,000 direct jobs and 15,000 indirect employment opportunities.

The program is scheduled to scale to 100 billion naira by 2027, with a target of supporting 100,000 youth-owned businesses. Special quotas ensure that 40% of funds are directed to female entrepreneurs and 30% to rural applicants.