Did you apply for NYIF? Were you shortlisted and trained? If ‘yes’, there is a good news for you. The NYIF payment will commence this month for the First Batch Applicants.
The Nigerian Youth Investment Fund (NYIF) which was brought into existence by the Federal Government (FG) of Nigeria to provide funds (loan), and promote businesses of individuals and firms had successfully shortlisted, trained and selected its first set (batch) of beneficiaries.
Requirement for NYIF fund disbursement
- A proof to determine that you went through the training given by EDI.
- Uploading of business plan: These are necessities that must be put in place, while the body (NYIF) compute names of applicants that will be receiving their soft loan this month.
The NYIF loan will be given annually starting from the year 2020 to 2023. And the approved amount to be given is within the ranges of two hundred and fifty thousand naira (N250,000) to thirty million naira (N30,000,000), with a five percent (5%) interest rate.
For those that didn’t underwent the training, and also fail to provide their business plans, they are hereby advised to be patient as they will be rescheduled to have the compulsory training soon.
This training will make them eligible for updating their business plan, and as well be a beneficiary of the loan scheme.
More info will be updated in due course about the next training, hence, we encourage those that applied and are yet to be trained to follow us for the subsequent updates. To register for NYIF, cIick here.