NYIF Application Form 2024
Are you a Nigerian entrepreneur looking for opportunity to finance your business? Search no more, the Nigerian Youth Investment Fund (NYIF) is back again for the year 2024.
Federal Government had approved N110 billion for youths in business within the age of 18 to 40 years. Disbursement will be channelled through established youth enterprise clusters governed by the Presidential Initiative For Youth Enterprise.
Summary of the NYIF Program
- Fund Size: N110 Billion
- Disbursement Limits: N50,000,000
- Tenor: Maximum of 5 Years
- Interest Rate: 5%
- Moratorium: Up to 12 Months
- Processing Monitoring And Evaluation: To be done by Partner Mfis
- Disbursement Strategy: Primarily through youth enterprise clusters
Nigeria Youth Investment Fund
| Application Deadline | Not Specified |
| Value | Up To N50,000,000 |
| Type | Entrepreneurs |
| Sponsor | Federal Ministry of Youth and Sports Development (FMYSD) |
| State of Origin | Nigeria |
| Gender | Men and Women |
Benefits of (NYIF) Nigeria Youth Investment Fund
The goal is to turn them into entrepreneurs who can create wealth and employment, thereby contributing significantly to national development.
- Fund Size: N110 Billion
- Disbursement Limits: N50,000,000
Objectives of the NYIF
- To reduce youth unemployment by fostering entrepreneurship.
- To provide young entrepreneurs with access to affordable finance.
- To support youth-led businesses in achieving sustainable growth.
- To encourage innovation and creativity among the youth.
- To create job opportunities and improve the standard of living.
Requirements for (NYIF) Nigeria Youth Investment Fund
To be eligible for the NYIF, applicants must meet the following criteria:
- Be a Nigerian citizen aged between 18 and 40 years.
- Have a business or business idea that aligns with the Fund’s objectives.
- Possess a National Identification Number (NIN).
- Demonstrate a willingness to contribute to the economic development of Nigeria.
- Provide a viable business plan.
Application Documents
- Applicants must upload the following documents:
- Copy of National Identification Card (NIN)
- Business Registration Certificate
- Business Plan/Proposal
- Proof of Business Ownership (if applicable)
How to Apply
- Register: Create an account on the NYIF portal.
- Complete Application Form: Fill out the online application form with accurate personal and business details.
- Upload Documents: Attach the required supporting documents.
- Submit Application: Review your application and submit it online.
Application Process
- Step 1: Online Registration and Application
- Step 2: Submission of Required Documents
- Step 3: Application Review and Verification
- Step 4: Funding Decision and Disbursement
Apply Here
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