NYIF Loan Disbursements 2022: Over 25000 Youth to Benefit from New Round of NYIF Loan Disbursements
Good news to all NYIF loan applicants as the Nigerian government is set to disburse new rounds of Nigerian Youth Investment Fund loans. The three years ring-fenced fund was officially launched on the 22nd of July 2020 and aimed at reaching 500,000 Nigerian youths each year.
Although only about 6,000 beneficiaries seem to have received the loan in the launch year(2020) as against the stipulated 500,000 per year, the current announcement appears to be a headway for the millions of applicants who have continuously lamented the low response rate in the release/disbursement of the said fund.
NYIF Loan Disbursements 2022
In a recent development, the Federal Ministry of Youth and Sports Development is set to begin a fresh round of disbursements of the Nigeria Youth Investment Fund(NYIF) to deserving beneficiaries.
Most of the newly shortlisted beneficiaries from the over 25,000 successful candidates, who are expected to be part of the loan, have been said to have confirmed receipt of emails and text messages confirming the approval processes for the scheme and instructions on how to access the funds.
The NYIF loan will be disbursed to the beneficiaries within a range of N250,000(Two Hundred and Fifty Thousand Naira) to N3M(Three Million Naira) depending on the scale of the business and its evaluation.
Although at the moment, no date has been received or known for the disbursement neither have we been able to confirm receipt of funds from any beneficiary but we will put out word in our NYIF Facebook group to see if anyone got the message.
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