We informed you guys earlier that the Federal government has approved 75 billion naira youth empowerment fund, the portals are now open you(youths) can now apply and get up to 5 Million naira from the Federal government, we will detail you on how to successfully apply for this fund, read on.
The Federal Ministry of Youth and Sports Development launched the application for the N75 billion Nigeria Youth Investment Fund (NYIF) recently approved by the Federal Government on October 15, 2020
During the launch of the application, the Minister of Youth and Sports Development, Sunday Dare, said that the NYIF underscored the importance placed on youths by the current administration
Like we earlier told you this loan from the federal government will spread across 3 years, to cater to youth-owned businesses and investment needs.
Sunday Dare stated, “I must mention the support we enjoyed from the Central Bank of Nigeria (CBN), which in line with the President’s directive, provided the initial N12.5 billion required for the Fund to operate in the remaining part of the year 2020.
“We are also grateful that the Ministry of Finance, Budget and National Planning has on its part, committed to providing the next tranche of the fund in the 2021 budget.’’
Successful applicants will undergo 5 days of compulsory online training which is free. Fund approval will range from N250,000 to N5,000,000 with a spread across group applications, individual applications, working capital loans set at 1 year, and term loans set at 3 years.
Requirements For The Youth Empowerment Fund
To apply for the youth investment you will have to fill out the details below,
Note that this fund is open to Nigerian youth between the age of 18 to 35 years..
~Phone
~Gender
~BVN
~Residential Address
~Geo-Political Zone
~State of Origin
~LGA
~Educational Level
~Select Preferred Training Center
~How did you hear about NYIF?
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How To Apply For the Nigerian Youth Investment Fund
Youth with business ideas that require funding can apply for the fund through the link below https://nyif.nmfb.com.ng/Applicants/New
and the ministry’s website, www.youthandsport.gov.ng or www.noya.ng
On successful completion of the application form, you will get a congratulation message as seen below . Further information will be communicated to you via your provided email address or phone number.
I like the way you make it simple. Very helpful!