Do you know that through the Nigeria Youth Investment Fund Application Portal every youth in Nigeria through their mobile devices and laptops can have access to the business support of the Federal Government?
Yes. If not then take a seat and make sure you read this article to the end. NYIF is a government ingenuity formed to upkeep youths in business. The Nigerian youth investment fund application portal is now officially launched for the Nigerian Youth to submit their applications. The Nigeria youth investment fund (NYIF) application portal opened late 2020 and it’s for every Nigerian Youth aged of 18- 35 years who also met other requirements.
Nigeria Youth Investment Fund NYIF Benefits
The fund intends to reach about 500,000 youth yearly for 4 years starting from year 2020.. Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year and term loans set at 3 years with single digit interest rate of 5%.
GLOBAL CAPACITY: N12.5 billion
FACILITY TYPE: Term Loan
SINGLE CAPACITY: Individual / Non registered Business: Up to #250.000.00 | Registered Businesses (Business Name, Limited liability/ Corporative Societies / Commodities Associations): Up to N3,000.000.00.
How Long To Repay The Loan: Maximum of 5 years
MORATORIUM: Maximum of 12 months
How To Repay: Repayment will be on installment basis online with businesses and NMFB evaluation.
What Do You Need To Have To Qualify for Nigeria Youth Investment Fund NYIF?
This depends on whether your business as a youth is a Formal Business Enterprise or an Informal Business Enterprise
Formal Business Enterprises- Youth-Owned Enterprises
Duly registered formal business enterprises (Youth owned enterprises) with Corporate Affairs Commission (CAC)
Provision of Business plan Summary / Or Completed Questionnaire
Evidence of Training Certificate from approved FMYSD EDIs
Valid Bank Verification Number (BVNs) of Director
Provision of Tax Identification Number (TIN)
Informal Business Enterprises (INDIVIDUAL/ SOLE PRORIETORS)
Must be a Nigerian youth within the age bracket of 18 to 35yrs
Have an operational business /enterprise domiciled In Nigeria (Those with unregistered business can also apply)
Has not been convicted of any financial clime in the last 10 years
Valid Bank Verification Number (BVN)
Evidence of Local Government Indigene Certificate
Beneficiaries of NMFB loans (such as Targeted Credit Facility TCF) and Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS) that remain unpaid are not eligible to apply.
Beneficiaries of other Government loan schemes that remain unpaid are not eligible to apply.
What Documents Are Required for Nigerian Youth Investment Application Fund?
Training Certificate from approved FMYSD EDIs
Evidence of registration with Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A
Valid Bank Verification Number (BVN) for Individuals and Directors
Evidence of Local Government Indigene certificate
Duly completed Application form
A copy of Birth Certificate
Valid Tax Identification Number (TIN)
A Summary Business plan / Questionnaire
Valid means of Identification (Voter’s Card. Drivers License. National ID/NIN Slip 3. International passport)
Automated two years bank statement analysis.
When is the NYIF Application Deadline?
How to Apply For NYIF?
Do you have all the requirements stated above? If yes, Visit the Federal Ministry of Youth and Sports Development (FMYSD) on to apply through the Nigeria Youth Investment Fund Application Portal here or read on for further guide
Below is the Step BY Step Guide on How To Register on the Portal
Step 1: Visit NYIF Application Portal for the Application Form
Click on the link above to open the NYIF application portal. Once the NYIF portal loads, you will see the application form.
Step 2: Enter Your Personal Details
Enter the following personal information
Last Name (Surname)
When you are done filling the above, click the “Next” button
Step 3 – Chose Preferred Training Center
Click on the select box to choose the training center of your choice. The following training center options are available;
National Youth Development Center (North-Central)
National Youth Development Center (North-West)
National Youth Development Center (North-East)
National Youth Development Center (South-East)
National Youth Development Center (South-South)
National Youth Development Center (South-West)
Federal Ministry of Youth Sports and Development
Step 4: Select How You Heard About NYIF
The 4th step is a select box asking you how you knew about NYIF. The following options are available
Step 5: Accept NYIF Terms of Service
The 5th step is a check button requesting you to confirm that the information you provided is true and correct. Click on the button to accept
Step 6: Submit Your Application
Click on the submit button to finally finish your application.
Note This Important Information
No training fees required
Online Training only
Training duration is 5days
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