If you are not aware, the application portal for Nigeria Youth Investment Fund is now open. Any interested person can now access up to N3 Million Credit Facility via the Federal Government of Nigerian Youth Investment Fund program aimed at helping young individuals and business owners.
The program is focused on investing in the brilliant, ideas, skills & talents of Nigerian youths, aiding them to become entrepreneurs, wealth creators, and employers of labor. The Nigerian Youth Investment Fund (NYIF) was launched as an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria (CBN). See How To Apply For The Nigeria Youth Investment Fund – Official NYIF Portal:
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How Can I Apply For The Nigeria Youth Investment Fund – Official NYIF Portal?
All interested persons are allowed to apply online by filling the NYIF application form at nyif.nmfb.com.ng, according to the information provided at noya.ng. Participation in the program will involve adherence to the following instructions:
- Get Trained: All applicants must attend a compulsory entrepreneurship training with an approved Federal Ministry of Youth & Sports Development (FMYSD) EDIs.
- Apply For Loan: Successfully trained prospective applicants can go to NIRSAL Microfinance Bank (NMFB) portal to apply for the loan.
- Submit an Application: Eligible applicants will then submit their applications successfully on NMFB’s portal.
- Approval: NMFB conducts loan assessment in line with Risk Assessment Criteria and programme guidelines. The appropriate decision will be made by them before they forward recommended applications to CBN for final approval.
- Disbursement: CBN reviews applications and gives the final verdict for disbursement to NMFB. Tap here to start the application.
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All You Should Know About The Nigeria Youth Investment Fund
- Program Sponsor(s): The Federal Government of Nigeria.
- Program Type: Youth Investment Fund (investment loan).
- Program Targeted at: Individuals and Businesses Owners (youths entrepreneurs only).
- Funding Amount: N250,000 to N3,000,000.
- Loan Tenor: 5 years.
- Interest Rate: 5% p.a (All inclusive).
That is that.
