NYIF

Nigeria Government set up Nigeria youth Investment Fund for the Nigerian youths

The Nigeria youth Investment fund NYIF portal is now open to receive applications from interested Nigerian youths. The scheme was initiated by the Federal Ministry of Youth and Sports development funded by the Central bank of Nigeria.

The Youth Fund is dedicated to investing in the innovative ideas, skills, talents, and enterprise of the Nigerian Youth and aimed at turning them into Entrepreneurs, Wealth Creators, and Employers of labor contributing to national development.

The application which started today been the 13th of October 2020 is opened to Nigerian Youths from the age of 18- 35 years. Nigerian youths wanting to apply for the program need not have a registered business or existing business.

The fund aims to reach 500,000 youth annually between 2020 and 2023. Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year, and term loans set at 3 years with a single-digit interest rate of 5%.

The Nigeria Youth Investment fund (NYIF) was approved by the Federal Executive Council on Wednesday, July 22, 2020, for the establishment.

ELIGIBILITY CRITERIA

  • Official Government Identification
  • Applicant must be between the ages of 18 and 35 years old
  • Notarized Guarantor Forms
  • Passport photographs
  • Bank Verification Number
  • Training Certificate
  • Fundable business idea
  • Registered business
  • Nigeria Citizenship
  • NYSC certificate for graduates

Interested Nigeria youth should visit: https://nyif.nmfb.com.ng/Applicants/New

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