Loans/Finance
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.
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.
Contents
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.
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.
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
Kabiru Musa
at
Sir.
Please help me my business is low and my family are in hunger walahi I don’t wahat to do am in trouble plz
Ekuma Friday Ekuma
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Unemployed graduate looking for laon start up his business for his daily bread at least
Mudassir shuaibu
at
Dear sir I m businessman I waiting for laon
Achimugu joy Ojoache
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Am a graduate,I need the loan to start up business. Thanks.
ekpe ogochukwu
at
interstered
Agbo Friday
at
Am businessman and I need the loan to support my business
Abba Tamshe
at
Interested
Abubakar Nasir
at
I didn’t received any message up to now
Shamsu Rabilu
at
I am not receive any message through my email
Umar Alhassan
at
I’m not receive any messages in my email
Mohammed
at
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..
Azua Terhemba Timothy
at
Where is exactly portal for training cos I received the message
Shamsu Rabilu
at
I am not receive any message from nyif
Ogamodey Sunday
at
Pls update me when d names is out
Ataka Stephen
at
Please notice me at all time if shortlistted
Adamu Musa Adamu
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I am graduate I need loan to investing my business pls
Sani Dabo
at
I’m business man I need loan my here 08060008115
Iorzaa lubem
at
Notify me at all times
david James
at
how do I know if am shortlisted
Leo
at
Interested
Igwe Michael
at
I want a loan for my computer business,150,000 I will be happy if my application is been granted thanks
Gladys Etim Ebong
at
Am waiting patiently pls
Blessing habila
at
please when are they going to start it please email me if the side is open
Aminu iliyasu
at
I to
Ejaitajeph
at
It’s September already and no news about NYIF please mail me when it’s open ejaitajeph@Hotmail.com
Ogbavwerha favour ogba
at
I need the loan .my no,08109694009
Yilchir happiness donendung
at
I need this loan to start piggery
Nuraddeen Abdullahi Yeldu
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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
ADEMOLA,Olanrewaju Folorunso
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Please sir,i need too.
Yunusa Mohammed
at
Am waiting
Nsisong Okon Ekpai
at
I’m a food production processor, I need a help of loan to start up the business, I have my pharmacy technician certificate to place on, thanks for your help
Muhammad usman
at
Please i am a farmer when this portal will be launch i want to farm a beans is late now my phone number 07043708259
Danladi nuhu
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Please I am farm plant bean and Beanies see when is this side going to open
Ameh Andrew Oche
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Am very much interested
Iromaka ikechukwu johnbright
at
Notify me immediately it is launched
Amankwe Godgive chidera
at
Interested
Ugwu Emmanuel
at
Kindly notify me when available.
Sirajo muhammad
at
Please when the program would start
Sulaiman muhammad usman
at
Notify me if its launched
Sirajo muhammad
at
This is a kindness thanks
John Kwasin Bally
at
Interested
Sharifdeen Shuaibu chukwuebuka
at
Notify me immediately it is launched
Victoria
at
Very interested
George Felix
at
Please keep me updated,, I’m interested this my number 08121376610
Ajayi Temitope
at
Keep me informed of the latest development.
Tel: 08037908508
Femi Abimbola Adele
at
Please I used God to beg update me when the site and everything set because I need of this to boost a business its better plan for the youth here is my number 08156587808
Monday Jacob Thompson
at
Please keep me updated
Dominion edionweme
at
I can’t wait for this,am so happy🙂🙂 pls notify me when the site is out….
Gbemileke Jeremiah
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Please, I can’t wait for the site to be active!!! Email me as soon as the site is launched. Thanks.
Imrana Ibrahim
at
I can’t wait, please notify me when the site is launched
Yakubu munkaila
at
Still now I haven’t received any message through my email
Aliyu Zaria
at
this is a welcome development, kudos to Hon. Sunday Dare. kindly alert me if the process commences.
Abdulrahman Halidu
at
I interest for this load
Adie Julius.
at
Please keep informed as soon as it commence.
Abdulmalik masa
at
please notify me I need it
Awwal
at
Notify me when the site start functioning.
Sadiq Usman
at
Please inform me when the form is ready
Olumide
at
Interested
Fredrick ikechukwu
at
Please keep me posted on the nyif
Shafiu yusuf
at
I interest notifying me if started the processing
Shom Gabriel
at
Notify me
Any time I try such things they won’t work..
But let me give a try
bolarinwa Micheal
at
Is a good idea. Please keep me inform as they start the process
Hamza Hamisu
at
Please I need the loan please notify me