When the Federal Government approved the establishment of the N75 billion Nigerian Youth Investment Fund (NYIF), hundreds of thousands young Nigerians were excited about the innovation. They believe it could reduce the increasing unemployment rate, which has been worsened by the COVID-19 pandemic, in the country.

However, most of them are ignorant of how to access the investment fund and the purpose the fund was actually designed to address.

Check in for the steps.

https://netlinkageblog.org/2020/07/29/how-to-apply-for-n75-billion-nigerian-youth-investment-fund/

How to Apply for the loan
Potential beneficiaries are expected to have a fundable business idea.
Registered business
Must be a citizen of Nigeria
Present recognised means of identification and guarantors.
Also, the Ministry of Youth and Sports claim that the safeguards built around some specifics being crafted around the fund will ensure that potential beneficiaries do not need to know anyone or be “connected” to access the fund.
Note: All Application processes are handled by the Ministry of Youth and Sports Development.

Who qualifies?
It is meant to cater to the investment needs of those 18-35. An individual and group can apply for the Loan.

When the Federal Government approved the establishment of the N75 billion Nigerian Youth Investment Fund (NYIF), hundreds of thousands young Nigerians were excited about the innovation. They believe it could reduce the increasing unemployment rate, which has been worsened by the COVID-19 pandemic, in the country.

However, most of them are ignorant of how to access the investment fund and the purpose the fund was actually designed to address. Below are steps to access the facility and all you need to know about the scheme.

Who provides fund:
The Ministry of Finance, Budget and National Planning (MFBNP) and the Central Bank of Nigeria (CBN) will provide the financing to kick-start the Nigeria Youth Investment Fund (NYIF).

Loan range
The Loan, whose aim is to meet 500, 000 youths from 2020-2023, ranges approval will range from N250, 000 to N50m with a spread across group applications, individual applications, working capital loan set as one year and term loan set at three years with a single-digit interest rate of 5%.

A minimum of N25 billion each year in the next 3 years, totalling N75billion will be required to ring-fence the NYIF. For the remaining parts of 2020, N12.5 billion will be needed to kick start the NYIF. It is expected that successive governments will keep the fund alive.

Disbursement Procedure
It would be disbursed through various channels like Micro Credit Organisations across the country under the Central Bank of Nigeria supported by BOI, Fintech Organisations and Venture Capital Organisations registered with the CBN.

Why it is different from other loan?
NYIF provides a single-window of Investment Fund for the youth thereby creating a common bucket for all Nigerian youth to access Government support. Providing less cumbersome access to credit and finance for the average Nigerian youth and help lift thousands of the youth out of poverty and birth a whole generation of entrepreneurs.

Federal Executive Council approved the establishment of a N75 billion NYIF to support enterprise among 68 million Nigerian youths between ages 18 and 35.

“For the first time in the history of Nigeria, the Federal Executive Council today approved the establishment of the Nigerian Youth Investment Fund (NYIF) to the tune of N75 billion,” he said.

He explained that qualified youths who fall within the stipulated age bracket and have genuine business ideas “can approach any of the 125 micro-credit banks across the country to access it.

The minister added that the fund is meant to create a special window for accessing credit facilities and financing on the part of youths that will help to fund their ideas, innovations and also support their enterprise

REQUIREMENT FOR NIGERIAN YOUTH INVESTMENT FUND LOAN.

You must be a citizen of Nigeria
Your birth certificate.
Active email address.
Registered business.
Present recognized means of identification.
Provide your guarantors.
Potential beneficiaries are expected to have a findable business idea.
an individual and group can apply for the loan.
Is between the age of 18-35.
Active bank account..

You never include where yọ make the actual application

Adegbem01:
You never include where yọ make the actual application

Will be communicated soon.

Why can't it be like NSITF?
I don't have a Registered Business and I don't have any Guarantors!
Childofdoom come and Scam these ones again na. If you scale through notify me immediately!

OK oh! We are waiting!

How or where do we apply?

please how do I undergo this, I mean step by step...I have a registered business.

75billion wetin??!

Pls notify us here when the main application starts.

Let me mark territory on this thread.

I'm waiting

Government has rolled out many funding programs for SMEs. The Nigerian Youth Investment Fund been the latest.

A well written business plan is part of the criteria for accessing some of these funds.

PlanBiz is giving out 5 standard business plans you can customize for yourself and use to apply for the loan.

Visit the link below to get the 5 standard business plans at a discounted price of N5,000 only.

https://planbiz.com.ng/nigeria-at-60-giveaway/

Hurry, offer ends soon.

LGs are not uploaded in Akwa Ibom State

Pls when will the empowerment kick-start and how are we to apply??

I've applied and got msg from them.. who else

I've applied and got msg from them.. who else??

Danny50:
Pls when will the empowerment kick-start and how are we to apply??

.

boss.


I have applied already, I used the nyif portal and that mode was straight and easy compared to the the other one https://nirsalmfb.caderp.com. my problem now is which portal is the orginal

shomutuski:
boss.


I have applied already, I used the nyif portal and that mode was straight and easy compared to the the other one https://nirsalmfb.caderp.com. my problem now is which portal is the orginal

What is going on? I applied through one link circulating on WhatsApp. They just asked for names, bank, gender bvn and some few things that all. Nothing afterwards.

please what should I do?

it kept saying :Your name does not match with the BVN.

but thats the name I used to register my BVN... it has been the same order of name I've been using all through.

ILJC:
please what should I do?

it kept saying :Your name does not match with the BVN.

but thats the name I used to register my BVN... it has been the same order of name I've been using all through.

Pls post the link here.

maryannah:
I've applied and got msg from them.. who else??

what site did you register with please cos I didn't get any message and I did register with nyif website

dani25:

what site did you register with please cos I didn't get any message and I did register with nyif website

I was wondering. I haven't gotten anything.

ILJC:
https://nyif.nmfb.com.ng/Applicants/Newhttps://nyif.nmfb.com.ng/Applicants/New

Thank you.

ehinmowo:



What is going on? I applied through one link circulating on WhatsApp. They just asked for names, bank, gender bvn and some few things that all. Nothing afterwards.

exactly i aPPLIED THROUGH THAT ONE AND ANOHER TYPE THAT HAD THIS AGEIMIS

shomutuski:


exactly i aPPLIED THROUGH THAT ONE AND ANOHER TYPE THAT HAD THIS AGEIMIS

AGSMEIS is different from NYIF.

They are still sending message

I got a message today that I'm pre-qualified to apply with a link. Who else got it?

I did too and got a message that a link would be sent to my email to complete my application but I've waited for several days now and haven't seen it.

muyentinadek:
I got a message today that I'm pre-qualified to apply with a link. Who else got it?

ehinmowo:

AGSMEIS is different from NYIF.

please can explain better the different