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  • CBN disburses N2bn to over 7,000 beneficiaries under youth investment fund

    CBN disburses N2bn to over 7,000 beneficiaries under youth investment fund

    A total of 4,411 beneficiaries were people and 2,646 were little and medium enterprises (SMEs).

    The CBN revealed this at a communique issued by the conclusion of its monetary policy committee (MPC) meeting on Tuesday.

    The Central Bank of Nigeria (CBN) says a total of N2.04 billion has been disbursed to 7,075 beneficiaries under the National Youth Investment Fund (NYIF).

    In 2020, the national executive council (FEC) had accepted an N75 billion childhood investment finance targeted at young people between ages 18-35 decades as well as the ministry of youth and sports development, accountable for budgetary provisions and also for capital mobilisation.

    Read also: Nigerian govt Inquires National Assembly for New review of 2020 Funding

    The programme fiscally enables Nigerian youth to create at least 500,000 jobs between 2020 and 2023.

    The CBN stated under the ABP, N631.4 billion has been awarded to 3,107,949 smallholder farmers cultivating 3.8 million property hectares; N111.7 billion awarded to 29,026 beneficiaries under AGSMEIS; and N253.4 billion awarded to 548,345 beneficiaries below the TCF, which includes 470,969 families and 77,376 SMEs.

    CBN explained these initiatives were utilized to inject money into employment generation and improve growth in the market

  • Federal Government opens talks with China to have access to COVID-19 vaccines for Nigeria

    Federal Government opens talks with China to have access to COVID-19 vaccines for Nigeria

    Federal Government opens talks with China to have access to COVID-19 vaccines for Nigeria.

    Nigeria’s Minister of Foreign Affairs, Mr Geoffery Onyeama, made the disclosure on Tuesday in Abuja while briefing newsmen shortly after a bilateral meeting with the Chinese Foreign Minister, Wang Yi.

    Yi is in Nigeria on a working visit.

    Onyeama recalled that China was of immense assistance to Nigeria at the advent of the pandemic, noting that the donation of protective equipment greatly affected the nation in the fight against COVID-19.

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    The minister said that at this point when countries were discovering vaccines and China being one of them, Nigeria was engaging the country in the area of access to the vaccine.

    “We have received a lot of support from China in the area of personal protective equipment that they were very quick to provide us with and of course, with the vaccine discoveries now,

    “China is also one of those countries that have been able to discover vaccines for COVID-19, so we are also engaging with China to also help with regards to access to vaccines for our people,” he said.

    According to Onyeama, the relationship between both countries has dated 50 years, adding that both countries have many areas of cooperation to celebrate.

    “We also realised that in 2021, we would be celebrating 50 years of diplomatic relations between Nigeria and the Peoples Republic of China,” he said.

    Giving insights into some of the deliberations during the closed-door meeting, Onyeama said that he and his counterpart looked at the trade relations between the two countries and areas that could be improved.

    Read also: FOCAC China, Africa need stronger community of shared future – Wang

    He said that they also discussed health issues and the global pandemic.

    “In the area of fostering relations, both countries are now considering having a direct flight from Nigeria to China.

    “We want to establish direct air link with China. We hope that very soon, a Nigerian carrier would be carrying out scheduled flights to China in the not too distant future,” he said.

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    Posted by Multiplatforms on Tuesday, July 28, 2020