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NYIF Loan Disbursement Has Commenced

Did you apply for Nigeria Youth Investment Fund (NYIF) program? If ‘yes’, there is a good news for you. NYIF Loan Disbursement has begun!!!

Get Federal Government Loan for Business Startup => See Here!

NYIF Loan DisbursementThe Federal Government has announced the commencement of NYIF loan disbursement across Nigeria.

Nyscinfo.com learnt that so far the federal government has successfully implemented the disbursement of over N165million worth of loans to 239 beneficiaries.

This was revealed in a statement issued by the federal government on Wednesday. In the statement, the Nigeria government also disclosed that the exercise has received N3million applications so far.

The statement reads;

“The Nigeria Youth Investment Fund (NYIF), being implemented by Ministry of Youth and Sport, has successfully completed its pilot disbursement of loans totaling N165,700,000 to 239 beneficiaries ahead of the processing of the over three million applications so far received.”

It added that the fund¬†“is being implemented by Youth Ministry in partnership with the CBN and Ministry of Finance and is being disbursed through NIRSAL”

What you should know about NYIF

In July 2020, the Federal Government approved the establishment of N75 billion Nigeria Youth Investment Fund (NYIF), which the Primary purpose is to empower the Nigerian Youths with fund to start up a business.

The government said NYIF loan could reduce the increasing unemployment rate, which has been worsened by the outbreak of Covid19 in the country. Check out list of FG free interest loan you can apply for.

Requirements to access NYIF loan disbursement

  • Potential beneficiaries must have a fundable business idea.
  • Business must be registered with Cooperate Affairs Commission (CAC)
  • Must be a citizen¬†of Nigeria by birth
  • Have recognised means of identification.
Also Read:  NSIP Monitors Induction and Training Programme 2021 Date & Venues

  How to Apply for NYIF Loan

To apply for Nigeria Youth Investment Fund, kindly Click Here to start.

How to Apply for FarmerMoni Loan In 2021

How to apply for CBN CIFI loan through GTBank

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