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.

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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

62 Comments

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  1. Ekuma Friday Ekuma

    Unemployed graduate looking for laon start up his business for his daily bread at least

  2. Dear sir I m businessman I waiting for laon

    1. Achimugu joy Ojoache

      Am a graduate,I need the loan to start up business. Thanks.

  3. interstered

  4. Am businessman and I need the loan to support my business

  5. Interested

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

  6. I am not receive any message through my email

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

  8. 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

  9. I am not receive any message from nyif

  10. Pls update me when d names is out

  11. Please notice me at all time if shortlistted

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

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

  14. Notify me at all times

  15. how do I know if am shortlisted

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

  17. Am waiting patiently pls

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

    1. I to

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

  20. Ogbavwerha favour ogba

    I need the loan .my no,08109694009

  21. Yilchir happiness donendung

    I need this loan to start piggery

  22. 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

  23. ADEMOLA,Olanrewaju Folorunso

    Please sir,i need too.

  24. Am waiting

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