Nigerian Youth Investment Fund – Application Portal and How to Apply for NYIF

Nigerian Youth Investment Fund – Application Portal and How to Apply for NYIF

Are you looking for Nigerian Youth Investment Fund? Would you like to know how to apply for Nigerian youth investment fund? Would you like to know the requirements for NYIF? Would you like to know the application form portal for the Nigerian youth investment fund? Are you interested in finding out how to apply for NYIF?

In this post, you will get all the information you need regarding the NYIF including the requirements, the Nigeria Youth Investment Fund application portal, and how to successfully complete your application form online.

About Nigerian Youth Investment Fund

The NYIF is a sort of bank designed to help Nigerian youths to gain access to fund innovative ideas, skills, and talents and also to provide a special window for accessing funds, finances, business management skills, and other inputs critical for sustainable enterprise. Youths can also access credit and soft loans.  This platform is managed by the Ministry of Youth and Sports Development which along with other MDAs directs the distribution of funds where necessary. This is the very first of its kind by any Nigerian government.

Read also: BOA-SMEDAN Matching Fund Application – Application Portal and How to Apply
Read also: App Challenge Nigeria: Apply Now for App Challenge
Read also: INEC Recruitment Past Questions and Answers Free PDF Download
Read also: INEC Recruitment 2020/2021 INEC Recruitment Form Portal
Read also: Nigeria Youth Investment Fund – 10 Things you Must Do Before the Portal Opens

Facts About NYIF

Here are a few points to note about NYIF before we move to the requirements to apply as a beneficiary.

• The Nigerian Youth Investment Fund was approved on the 22nd of July 2020
• The NYIF will get 25 billion to run per year for 3 years making it 75 billion. They are to start with 12.5 billion for the remaining part of 2020.
• The fund is aimed at reaching 500,000 youth annually between 2020 and 2023 and each is expected to get at least 250,000 to 50,000,000 Naira.
• The fund can be accessed on a group application level and individual application. Individuals
• The interest rate for loans offered on the NYIF is 5%
• The moratorium period of the loan will be 1 year for individuals and 3 years for group or team loans.
• Disbursement is through microfinance organizations, fintech organizations, and venture capital organizations registered with CBN.
• The Ministry of Finance, Budget and National Planning (MFBNP) and the Central Bank of Nigeria (CBN) provides the finance to start the NYIF
• To benefit from the fund, you must have a fundable business idea, registered business, be a citizen of Nigeria, present recognized means of identification, and guarantors.

Read also: Nigeria Air Force Recruitment Application Form Portal
Read also: NACA Recruitment – Apply Now for National Agency for the Control of AIDS
Read also: NIMC Recruitment – Application Portal and How to Apply for National Identity Management
Read also: NHIS Recruitment Application Form Portal @ nhis.gov.ng Fresh Recruitment

Enugu State Bursary and Scholarship Application Form Portal

NYIF Application Portal

The Nigerian Youth Investment Fund’s official website or portal is now open although all information regarding the fund is was previously published via the Ministry of Youth and Sports Development website https://youthandsport.gov.ng. However, the application portal is at nyif.nmfb.com.ng all interested applicants are to complete their application form via the portal.

Read also: How to Resolve NYIF Issues with Ease – Fix Nigeria Youth Investment Fund-Related Issues
Read also: Nigerian Youth Investment Fund Portal | NYIF Loan Application Form
Read also: Kwara State Subeb Recruitment Application Form Portal @Subeb.kw.gov.ng
Read also: Kwara State Tescom Teachers Recruitment Application Form Portal @Tescom.kW.gov.ng

Requirements to Apply for the Nigerian Youth Investment Fund

Interested applicants for NYIF must meet the following requirements to be eligible

1. Applicant must be a Nigerian by birth
2. You must be between the age of 18-35 years
3. Applicant must have a valid means of identification(National Identity Card, Permanent voters card, International passport, Drivers license)
4. Applicant must have a fundable idea
5. You must submit a business proposal
6. Applicant must have a registered business name/company
7. A valid BVN(Bank Verification Number)
8. Applicant must provide one guarantor

Read also: Paycentre User Guide and How to Get Free POS
Read also: Shell LiveWire Grant 2020/2021 Application Form Portal
Read also: survivalfund.gov.ng: MSME Survival Fund Registration Portal, Requirements and How to Apply
Read also: Top 10 tips to get really popular on Instagram

How to Apply for NYIF 2024

Interested and eligible candidates who wish to apply for the Nigerian Youth Investment Fund, are to complete their application form online via the application portal nyif.nmfb.com.ng

Expected commencement date

The application process is on till the end of the year when the program will finally come to a close this is because the initiative was designed to last for 3 years.

Read also: Top 10 tips to get really popular on Instagram

This post has been updated so all information is up to date.

Would you like to get an update via Facebook messages? Say hi, to us via our Facebook page and you will get a direct message as soon as the portal opens.

Join the NYIF Facebook Group Now

Thank you for reading this post, sharing is caring, please do share this post with your friends and don’t forget to like us on Facebook, Twitter, Instagram, YouTube and other social network channels for regular update.