FEC approves $100m AfDB loan for Youth Investment Fund
By Kunle Sanni –
The Federal Executive Council (FEC) on Wednesday approved a $100 million loan from the African Development Bank (AfDB) to boost the Nigeria Youth Investment Fund, a flagship programme aimed at supporting entrepreneurs aged 18 to 35 across micro, small and medium-scale enterprises.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the approval while briefing journalists after the council’s 10th meeting of 2025, chaired by President Bola Tinubu at the State House, Abuja. Edun revealed that the facility would provide young entrepreneurs with access to equity financing, debt instruments, grants and other forms of financial support targeted at stimulating grassroots economic activity.
He also revealed that the council endorsed additional financing from the Islamic Development Bank for the UBAS Integrated Agricultural Development Project, describing both facilities as long-term, concessional funding structured to promote inclusive and sustainable growth.
According to Edun, a major highlight of the meeting was the presentation of the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper. President Tinubu, he said, commended cabinet members for their commitment to the Renewed Hope agenda and emphasised strict prioritisation of government spending.
The minister added that the president has directed ministries, departments and agencies to channel capital expenditure towards high-impact projects, strategic infrastructure and programmes capable of accelerating economic growth.
Edun cited fresh data from the National Bureau of Statistics showing that Nigeria’s economy expanded by 3.89% year-on-year in the third quarter of 2025, driven by gains in agriculture and industry, alongside easing inflation. He noted, however, that the figure remains short of the administration’s 7% annual growth target.
“The emphasis is on improving expenditure efficiency and ensuring maximum value for every naira,” he said, adding that the economic management team is finalising sectoral priorities for the President’s approval.
