How To Apply For N75 Billion Nigeria Youth Investment Fund

How To Apply For N75 Billion Nigeria Youth Investment Fund

Hello guys, happy Xmas.  I want to quickly share with you, how to apply for Nigeria Youth Investment Fund 2020 online. The N75 Billion Nigeria Youth Investment Fund (NYIF) aims to financially empower Nigeria youth to generate at least 500,000 jobs between 2020 and 2023. The NIRSAL MFB window shall be funded with an initial take-off seed capital of N12.5 billion

If you want to apply for the 2020 NYIF, you can get started at the Nigeria Youth Investment Fund Portal via https://nyif.nmfb.com.ng

Once the NYIF portal link above opens in your web browser, click the “APPLY NOW” button to start your NYIF application process.

TRAINING

Applicants shall undergo a compulsory entrepreneurship training arranged or

approved by the Federal Ministry of Youth and Sports Development.

5.5 Eligible Activities/Businesses

Legally allowed activities in the sectors or focal areas listed below shall be eligible:

(i) Technology/ Innovation;

(ii) Agriculture and related value chain;

(iii) Green Economy and Renewable energy sector;

(iv) Manufacturing,

(v) Hospitality/Tourism;

(vi) Construction;

(vii) Logistics and supply chain;

(viii) Healthcare value chain,

(ix) Creative sector and

(x) Trading and Services.

(xi) Others as may be determined by NYIF/CBN from time to time.

TERM LOAN (FOR ASSET ACQUISITION/IMPROVEMENT)

(i) Individual (Unregistered business)

Shall be determined based on activity/nature of project subject to the

maximum of N250,000

(ii) Registered Businesses (Business name, Limited Liability, Cooperative,

Commodity Association shall be determined by activity/nature of project

subject to the maximum of N3.0 million (including working capital).

TENOR

Maximum of 5 years depending on the nature of the business and the assets

acquired.

INTEREST RATE

Interest rate under the intervention shall be at not more than 5% per annum (all

inclusive).

Eligibility: Youths (18-35 years old) with business ideas that require funding

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