Nigeria Youth Investment Fund (NYIF) Application Portal 2020

Nigeria youth investment fund

Nigeria Youth Investment Fund (NYIF) Application Portal 2020

The Federal Ministry of Youth and Sports Development has officially launched a portal to apply for the Nigeria Youth Investment Fund (NYIF) of which #75 billion is budgeted to support innovative Nigerian youths with business minds, skills, and talent and needs funding to start up.

The program which was launched in August this year is expected to run for three years between 2020 to 2023.

Nigeria Youth Investment Fund (NYIF) is organized for Nigerian youths between the ages of18 – 35 years, the NYIF #75 billion is an easy loan program by the Federal Ministry of Youth and Sports Development and Central Bank of Nigeria for the teeming youths to upscale their businesses and skills.

The eligibly selected beneficiaries will have access to loans of up to 3 million Naira with a cap interest rate of 5% which is repayable after 3 years.

As aforementioned the program is dedicated to investing in innovative ideas, talents, and skills with the aim to empower Nigerian youths to generate at least 500,000 jobs between 2020 to 2023 by making unemployed Nigerian youths entrepreneurs, labor employers as well as wealth creators.

Every Nigerian youth who is currently unemployed should not miss this golden opportunity by simply following the NYIF application procedures stated below to apply as soon as possible because the application is completely free of charge.

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Nigeria Youth Investment Fund Registration Requirements

Eligibility for the fund is classified into two namely: (I) Individuals/ Non Registered  Businesses and (II) Registered businesses, each category has different requirements as listed below:

Individuals/ Non Registered  Businesses

  • This category of beneficiaries will have access to loans of up to #250,000.
  • Applicants must be 18 – 35 years of age.
  • Must have a BVN and means of identification.
  • Business summary/completed questionnaire.
  • Applicant must possess an Entrepreneurship Training Certificate issued by FMYSD Entrepreneurship Development Institutes (EDIs).

Registered businesses

This category of beneficiaries will have access to loans of up to two 3 million Naira.

  • Formal Business Enterprises (Youth Owned Enterprises).
  • The enterprise must be registered with the Corporate Affairs Commission (CAC).
  • Tax Identification Number (TIN).
  • Applicant must possess an Entrepreneurship Training Certificate issued by FMYSD Entrepreneurship Development Institutes (EDIs).
  • BVN

How To Apply For NYIF

  • Visit the NYIF application portal https://nyif.nmfb.com.ng/Applicants/New
  • Fill the online application form and click the ‘Next’ button.
  • Complete your application by providing the requested information and documents.
  • Submit your application.
  • Wait to be shortlisted.
  • Undergo compulsory entrepreneurship training approved by the Federal Ministry of Youth and Sports Development (FMYSD) (EDIs).
  • Go to NIRSAL Microfinance Bank (NMFB) portal and apply for a loan.
  • Get approved and receive the loan.

2 Comments on “Nigeria Youth Investment Fund (NYIF) Application Portal 2020”

  1. I can’t find where to start the application.
    All I see are the criteria for the application.
    Please assist. Thanks.

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