We are pleased to inform the Nigerian Youths who have been seeking for financial help from the federal government to start up a business, that the Nigeria Youth Investment Fund (NYIF) loan applications portal is live again. If you have been looking for a way to register for NYIF loan, then this information is for you.
Kindly note that qualify and eligible Nigerian youths can access up to Three Million Naira (N3 million) fund. The federal government is interested in investing in the innovative ideas of the youths that have the potential of creating jobs and turning the Nigerian youths into entrepreneurs, wealth creators and employers of labour.
Who Is Eligible for NYIF loan?
Applicants must meet the following requirements:
1) Individuals/Non-registered Businesses
- Must be between the age of 18 and 35 years
- A valid Bank Verification Number (BVN),
- Provision of well-written business plan – *See how to write a business plan for NYIF loan.
- Summary or completed questionnaire
- FMYSD entrepreneurship training certificate from Entrepreneurship Development
2) Registered Organization
- Must duly registered with the Corporate Affairs Commission (CAC) – See how to register your Business with CAC for free.
- Summary of business plan or completed questionnaire.
- Bank Verication Numbers (BVNs) of the Director(s)
- Provision of Tax Identication Number (TIN) – *See how to apply for TIN.
- FMYSD entrepreneurship training certication from EDIs.
How to apply for NYIF loan
Recall that the Nigerian Youth Investment Fund was introduced by the federal government, through the Federal Ministry of Youth and Sports Development (FMYSD) in partnership with the Central Bank of Nigeria (CBN) to
invest in Nigerian youth innovative ideas to build sustainable businesses that can create jobs and sustain the economy of the country.