The Federal Executive Council has granted its consent for the disbursement of N60 billion from the Central Bank of Nigeria via the Agric Small and Medium Enterprises Investment Scheme to boost small business growth, particularly among young entrepreneurs nationwide.

This is contained in a statement by the Minister of Youth, Jamila Ibrahim, on Monday following the conclusion of the fourth FEC meeting in Abuja on Monday.

The fund was established in 2020, which was initially amounted to N75 billion, with annual releases of N25 billion, has since been increased to 60 billion, designated for youth-led and youth-owned enterprises operating in priority sectors.