Important HIGHLIGHTS OF THE 2024 Loan Application Programme To Apply Now

Apply for the Nigeria Youth Investment Fund NYIF program

NOTE: It’s a Loan Application Programme

HIGHLIGHTS OF THE 2024 NYIF PROGRAM

FUND SIZE: N110 Billion

DISBURSEMENT LIMITS: N50,000,000

TENOR: MAXIMUM OF 5 YEARS

INTEREST RATE: 5%

MORATORIUM: UP TO 12 MONTHS

PROCESSING MONITORING AND EVALUATION: TO BE DONE BY PARTNER MFIs

DISBURSEMENT STRATEGY: PRIMARILY THROUGH YOUTH ENTERPRISE CLUSTERS

Eligibility Criteria

To be eligible for the NYIF, applicants must meet the following criteria:

Be a Nigerian citizen aged between 18 and 40 years.

Have a business or business idea that aligns with the Fund’s objectives.

Possess a National Identification Number (NIN).

Demonstrate a willingness to contribute to the economic development of Nigeria.

Provide a viable business plan.

How to Apply

Register: Create an account on the NYIF portal.

Complete Application Form: Fill out the online application form with accurate personal and business details.

Upload Documents: Attach the required supporting documents.

Submit Application: Review your application and submit it online.

Required Documents

Applicants must upload the following documents:

Copy of National Identification Card (NIN)

Business Registration Certificate (CAC)

Business Plan/Proposal

Proof of Business Ownership (if applicable)

Application Process

Step 1: Online Registration and Application

Step 2: Submission of Required Documents

Step 3: Application Review and Verification

Step 4: Funding Decision and Disbursement

https://www.fmyd.gov.ng/nyif_application

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