Are you searching for the official Nigeria Youth Investment Fund Application Portal? or how to apply for the Nigeria Youth Investment Fund? Don’t worry, we’ve got you covered.
The Nigerian Youth Investment Fund NYIF is a federal government programme initiated to boost the Nigerian economy through leverage and access to finance for the Nigerian youths. The goal of the programme is to fund hopes, help unleash the potentials of the Nigerian youth, and to enable them to build businesses that will help increase the rate of employment.
The NYIF programme aims to reach 500,000 Nigerian youths annually between 2020 and 2023. Each of the funds that will be approved will range from N250, 000 to N50, 000,000, with a spread across individual applications, group applications, working capital loans set at 1 year and long term loans set at 3 years with a single-digit interest rate of 5%.
There are currently various channels ready for disbursement, and they include Microfinance, finance firms and deposit money banks which will be regulated by the Central Bank of Nigeria and assisted by the Bank of Industry.
You can easily grow or start your own business with the help of Government Loans and Free Business Supports. This is suitable for individuals in search of loans and capitals for their business.
REQUIREMENTS TO ACCESS NYIF LOAN
- Government Identification (e.g Voters Card, NIN, International Passport, etc.).
- Applicant must be between the ages of 18 to 35 years old.
- Passport photographs.
- Notarized Guarantor Forms.
- Training Certificate.
- Nigeria Citizenship.
- Bank Verification Number (BVN)
- Fundable Business Idea.
- Formal business enterprises (Youth owned enterprises) that are duly registered with the Corporate Affairs Commission (CAC) – Not compulsory.
ADVANTAGES OF NYIF
- Collateral free.
- Low-interest rate.
DISADVANTAGES OF NYIF
- Lots of documentation required.
- Existing viable business required.
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How to Apply for NYIF 2021? – NYIF Registration Form 2021
Nigerians that are yet to carry out the NYIF registration portal to sign up, and log in to the NYIF portal in order to fill and update their NYIF loan dashboard, can do that using the steps below.
Step 1: Visit NYIF Application Portal www.nyif.nmfb.com.ng for the Application Form. Click Here For NYIF Application Form.
Step 2: Input Your Personal Information.
- First Name
- Middle Name
- Surname (Last Name)
- Date of Birth
- Email address
- Geo-Political Zone
- Residential Address
- State of Origin
- Educational Level (Primary, Secondary & Tertiary)
Step 3 – Select Your Preferred Training Center.
- (a) Federal Ministry Youth Sports & Development
- (b) National Youth Development Centre (North Central)
- (c) National Youth Development Centre (South-South)
- (d) National Youth Development Centre (North West)
- (e) National Youth Development Centre (North East)
- (f) National Youth Development Centre (South East)
- (g) National Youth Development Centre (South West)
Step 4: Choose How You Heard About NYIF.
Step 5: Accept the NYIF Terms of Service.
- Have you applied for the NYIF (Nigerian Youth investment found)? it is as important as MSME Survival Fund.
Step 6: Submit Your Application.
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