It seems a lot of things are gradually changing rapidly, and the Minister of Youth and Sports Development, Sunday Dare, said that the Nigeria Youth Investment Fund (NYIF) underscored the importance placed on youths by the current administration.
In light of this, the Federal government has officially launched 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 Minister said that the loan, provided under the NYIF, has an interest rate of 5% per annum and a tenor of 5 years with a moratorium of up to 12 months. The fund would be spread over 3 years to cater to youth-owned businesses and investment needs.
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.
Requirements
- Phone
- Gender
- BVN
- Residential Address
- Geo-Political Zone
- State of Origin
- LGA
- Educational Level
- Select Preferred Training Center
- How did you hear about NYIF?
How to Apply for The NYIF Funding?
Youth with business ideas that require funding can apply for the fund through the link here https://nyif.nmfb.com.ng/Applicants/New.
Upon successful completion of the application form, you will get a congratulation message as seen above.
Further information will be communicated to you via your provided email address or phone number.
