The Nigeria Youth Investment Fund (NYIF) happens to be the latest government scheme that offers individuals or an organization access to up to N3 Million Naira Credit Facility.
The Nigerian Youth Investment Fund (NYIF) is the brainwork of the Federal Ministry of Youth and Sports Development (FMYSD), although it’s funded by CBN (Central Bank of Nigeria) majorly to invest only on the youths.
The programme is dedicated to investing in the talents, innovative ideas & skills of the Nigerian youths. It’s also aimed at turning the Nigerian youths into wealth creators, entrepreneurs and employers of labour. So, if you are a Nigerian Youth with an innovative idea that can create sustainable businesses or activate enterprise that can increase job opportunities in Nigeria, then you can apply for the fund.
The scheme is targeted at individuals between the ages of 18 – 35 years. The programme also provides details of needed actions required to support business expansion, establishment and consequent employment creation for the Nigerian youth in these critical economic and social sectors.
Objectives of the Nigerian Youth Investment Fund
Below are some of the reasons why the Nigerian Youth Investment Fund programme was created by the Federal Ministry of Youth and Sports Development.
1). To financially empower Nigerian youths to generate at least 500,000 jobs between 2020 and 2023.
2). Improve access to finance for the Nigerian youth and youth-owned enterprises, for national development.
3). Enhance the managerial capacity of the Nigerian youth and also develop their potential to become future large corporate organizations.
4). Create a lot of employment opportunities to curb youth restiveness.
Eligible Candidates for The Fund
- Individual within the age bracket of 18 to 35 years.
- Those who have a valid ID and BVN.
- People with Business plan Summary or Completed Questionnaire.
- Those with an entrepreneurship Training Certification from FMYSD Entrepreneurship Development Institutes (EDIs).
Eligible Registered Businesses:
- Formal Youth owned business enterprises, duly registered with CAC (Corporate Affairs Commission).
- Valid Bank Verification Number (BVNs) of Directors
- Business plan Summary or Completed Questionnaire
- Provision of TIN (Tax Identification Number)
- Entrepreneurship Training Certification from FMYSD EDIs
How Do I Apply For The Nigerian Youth Investment Fund?
Nigerians that are still yet to carry apply for the NYIF should sign up, and log in to the Official NYIF Portal so as to fill and update their NYIF loan dashboard, and also apply for the fund following the steps below:
1). Visit NYIF Application Portal www.nyif.nmfb.com.ng.
2). Input Your Personal Information.
3). Choose Your Preferred Training Center.
4). Select How You Heard About NYIF.
5). Accept the NYIF Terms of Service.
6) Finally, Submit Your Application.