Apply for the 2024 N110 Billion NYIF Funding Program
About NYIF aka Nigerian Youth Investment Fund:
If you’re looking for funding opportunities as a Nigerian youth, the Nigerian Youth Investment Fund is for you. The federal government has designed this initiative to enhance young Nigerians’ hustling and entrepreneurship abilities. This business initiatives are expected to boost the economy and drive growth in the society in many indices.
Job Details:
- Company – Nigerian Youth Investment Fund
- Funding Amount – N110 Billion
- Disbursement Amount – N50M Loan, N100M Equity
- Interest Rate – 9%
- Moratorium – 18 Months
- Tenor – 5 Years Max
Description:
The Federal Ministry of Youth and Sports Development (FMYSD) established the NYIF in 2020 in collaboration with the Central Bank of Nigeria (CBN). The NYIF’s goal is to provide financial support to young entrepreneurs, thereby increasing their ability to create jobs and contribute to the national economy.
Expected Duties:
- Empower young Nigerians by offering financial support to start businesses
- To create jobs to tackle the growing unemployment in society
- Promote economic growth and development by assisting SMEs with financing
- Help young people acquire life and entrepreneurship skills to improve their chances of starting businesses.
- Giving everyone an equal opportunity at accessing funding to kickstart any entrepreneurship dreams
Qualification Requirements:
To qualify for this opportunity, here are the eligibility criteria to look forward to:
- Applicant must be aged 18 – 35 years old
- Applicant must be a citizen of Nigeria
- Applicant must reside and operate their business within Nigeria
- Applicant must partake in the required business training offered by FMYSD
- Applicant must have a viable business idea or a currently existing business
- Applicant must be tax-compliant
- Applicant must have a valid BVN
How to Apply for this Opportunity
To get started with this opportunity, visit the NYIF website to begin the process.
– Visit the NYIF portal
– Create an account and fill up the registration
– Upload business plan for review
– Wait for review and approval of the application
– Undergo entrepreneurship training
– Wait for funds to be disbursed if the application is approved
Start your application through this link – www.fmyd.gov.ng
