The Federal government has officially unveiled the registration portal for the N75 Billion Nigeria Youth Investment Fund (NYIF), thereby paving the way for interested young Nigerians between the age of 18-35 years old to apply.
The Nigerian Youth Investment Fund (NYIF) has commenced the sending of Mails for Virtual Youth Entrepreneurship Programme (V-YEP) an e-learning platform, the e-learning platform is meant to equip the youths with the needed skills and knowledge to effectively utilize her potentials inline with mission of the Fund to be disbursed.
Applicants who registered for the programme are required to constantly check their mail for invitation and attendance.
About the Nigerian Youth Investment Fund (NYIF)
The Nigerian Youth Investment Fund (NYIF) was set up as an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria (CBN) to invest in youth ideas to build sustainable businesses that can activate enterprise and increase job opportunities in Nigeria. The fund is dedicated to investing in the innovative ideas, skills & talents of Nigerian youths aimed at turning them into entrepreneurs, wealth creators and employers of labour, contributing to national development.
Successful applicants will undergo 5 days of compulsory online training which is free. Fund approval will range from N250,000 to N5,000,000 with a spread across group applications, individual applications, working capital loans set at 1 year, and term loans set at 3 years.
ELIGIBILITY FOR Nigerian Youth Investment Fund (NYIF)
REQUIREMENTS FOR Nigeria Youth Investment Fund
• Residential Address
• Geo-Political Zone
• State of Origin
• Educational Level
• Select Preferred Training Center
• How did you hear about NYIF?
MODE OF APPLICATION
Youth with business ideas that require funding can apply for the fund through the following link: https://nyif.nmfb.com.ng/Applicants/New
Applicants to attend a compulsory entrepreneurship training with an approved Federal Ministry of Youth & Sports Development (FMYSD) EDIs .
Apply for Loan
Successfully trained prospective applicants proceed to NIRSAL Microfinance Bank (NMFB) portal to apply for the loan.
Submit An Application
Eligible applicants submit applications successfully on NMFB’s portal.
NMFB conducts loan assessment in line with Risk Assessment Criteria and programme guideline, make appropriate decision and forward recommended applications to CBN for final approval.
CBN reviews applications and gives final approval for disbursement to NMFB.