How to access ₦75 billion NYIF Loan – nyif.gov.ng

This post will serve as a guideline on to apply for the newly approved ₦75 billion Nigerian Youth Investment Fund, NYIF loan of the federal government.

NYIF Loan

The approval range for this loan is between ₦250,000 and ₦50 million, which spread across group applications.

This loan is specifically for Nigerian youths between the age of 18 and 35 years who have a fundable business idea. It is expected that this loan will help reduce the increasing rate of unemployment, which has been worsened by the COVID-19 pandemic.

Requirements for NYIF loan

Below are requirements to access the Nigerian Youth Investment Fund;

  • Prospective beneficiaries must be a Nigerian citizen by birth.
  • Must be between the age of 18 and 35 years.
  • Passport photographs
  • Active phone number and e-mail address
  • Bank Verification Number (BVN) and bank account
  • A fundable business idea or registered business.
  • Must have government issued ID card. See how to check your National Identity Number (NIN) with your mobile phone.
  • Must provide at least two guarantors.
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Loan funding

The Central Bank of Nigeria (CBN) and the Ministry of Finance, Budget and National Planning (MFBNP) will jointly provide the financing to kick start the project.

Amount, interest rate and term

The loan ranges from ₦250,000 to ₦50 million, and loan term set at 3 years, with an interest rate of 5%.

A minimum of ₦25billion will be released each year for 3 years, totaling ₦75 billion.

How to apply for Nigerians Youth Investment Fund (NYIF) loan

The loan will be disbursed via various channels like; Micro Credit Bank across the country under the Central Bank of Nigeria supported by BOI, Fintech Organisations and Venture Capital Organisations registered with the CBN.

SEE ALSO:  How to Apply for National Young Farmers Scheme (NYFS), NALDA (2020/2021)

Qualified Nigerian youths, who have genuine business ideas, should visit any of the 125 micro-credit banks across the Nigeria to access the loan. You can also apply online at https://nyif.nmfb.com.ng/Applicants/New

Below are other loan opportunities you can apply

Updated: October 17, 2020 — 11:04 am

56 Comments

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  1. Interested

    1. I didn’t received any message up to now

  2. I am not receive any message through my email

  3. I’m not receive any messages in my email

  4. How do I train online, I don’t know the essential training portal And I didn’t receive any message meant for training invitation via my mail box or otherwise..

    1. Azua Terhemba Timothy

      Where is exactly portal for training cos I received the message

  5. I am not receive any message from nyif

  6. Pls update me when d names is out

  7. Please notice me at all time if shortlistted

  8. I am graduate I need loan to investing my business pls

  9. I’m business man I need loan my here 08060008115

  10. Notify me at all times

  11. how do I know if am shortlisted

  12. I want a loan for my computer business,150,000 I will be happy if my application is been granted thanks

  13. Am waiting patiently pls

  14. please when are they going to start it please email me if the side is open

  15. It’s September already and no news about NYIF please mail me when it’s open ejaitajeph@Hotmail.com

  16. Ogbavwerha favour ogba

    I need the loan .my no,08109694009

  17. Yilchir happiness donendung

    I need this loan to start piggery

  18. Nuraddeen Abdullahi Yeldu

    Hi oga at the Top.
    I have a business proposal which I want to start sperghety processing and production. I need this loan to help start this my enterprenuer business. Thank you

  19. ADEMOLA,Olanrewaju Folorunso

    Please sir,i need too.

  20. Am waiting

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