How To Apply For N110 Billion Nigeria Youth Investment Fund

The Ministry of Youth Development has reopened applications for the Nigeria Youth Investment Fund (NYIF) programme.

The NYIF is a government initiative aimed at empowering Nigerian youth by providing financial support to help them start or expand their businesses.

Launched by the Federal Ministry of Youth and Sports Development, the NYIF offers various financial instruments including loans, grants, and equity to eligible applicants, promoting economic growth, job creation, and youth empowerment across different sectors of the economy.

Initially established in 2020 with a budget of ₦75 billion, the NYIF aims to financially empower Nigerian youth to create at least 500,000 jobs between 2020 and 2023. The fund is set up with an initial seed capital of N12.5 billion.

Target Beneficiaries Of NYIF

The target beneficiaries of this cohort of Nigeria Youth Investment Fund are:

1. Startups and early-to-growth-stage businesses and they can access loans between 3 to 20 million Naira
2. Growth stage businesses and others can access loans of 15 to 50 million Naira.
3. Then startups, early to growth stage and high growth businesses can access grants and equity investment between 10 and 100 million Naira.

Requirements To Apply For NYIF

To be eligible for the NYIF, applicants must meet the following criteria:

• Age: Applicants must be between 18 and 40 years old.
• Citizenship: Only Nigerian citizens are eligible to apply.
• Business Requirement: Applicants must have a business or a viable business idea that aligns with the fund’s objectives.
• National Identification Number (NIN): Applicants must possess a valid NIN.
• Contribution to Economic Development: Applicants must demonstrate a willingness to contribute to Nigeria’s economic development through their business activities.
• Business Plan: A detailed business plan or proposal is required to outline the business idea, viability, and growth potential.

How To Apply For The NYIF

The application process for the NYIF is straightforward and involves the following steps:

1. Register: Applicants must create an account on the NYIF portal. This initial registration process requires basic personal and business information.
2. Complete the Application Form: After registration, applicants must fill out an online application form. This form requires detailed information about the business or business idea, including financial projections, market analysis, and business strategy.
3. Upload Documents: Applicants must upload the necessary supporting documents, including a copy of the National Identification Card (NIN), Business Registration Certificate (if applicable), A detailed Business Plan/Proposal, Proof of Business Ownership (if the business is already established), Submit Application.
4. Review: Once the form and documents are complete, applicants can review their submissions and submit the application online.

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