Nigeria Youth Investment Form 2020 Registration Portal | www.nyif.nfmb.com.ng
Interestingly, the federal government have brought up another empowerment scheme for the youth. This is an opportunity that the youth should not miss out on. However, the full detail of how to apply for this empowerment scheme and the basic requirements are listed out in details here.
- Are you between the ages of 18-35 years old.
- Do you own a business that you might want to establish?
- Also, do you have business ideas that can be considered and put to light?
If you answered yes, then, this is your opportunity to get that dream of yours come to life.
In this post, we have gathered all the information you need to make a successful application and being shortlisted.
Nevertheless, to be a beneficiary of this program, there are eligibility factors and due criteria you must meet up with.
Firstly, let us see the basic things we need to know about the Nigeria Youth Investment Fund and who is responsible for the scheme.
About NYIF | www.nyif.nfmb.com.ng
The NYIF is a federal government initiated scheme to help reach out to the average youth all over Nigeria. The scheme was created in other for every youth who is Innovative to be funded, have access to facilities and be supported.
Who Raises the Fund?
The fund is released by the Ministry of Finance, Budget and National Planning (MFBNP) along with the Central Bank Of Nigeria (CBN).
A sum of 75billion Naira has been approved by the Federal Executive Council and must reach out to atleast 500,000 youths from 2020-2023.
Disbursement Of Loan
The loan is to be disbursed to all youths who applied but within a range of 50,000 – N50M. This can be given across group application, individual application, working capital loan set as one year and term loan set at 3 years. Also, with a single-digit interest rate of 5%.
In addition, a minimum of N25 billion to be disbursed each year for a period of 3 years making it up to N75 billion through out 2020-2023.
Below, are a list of those criteria and requirements to possess before you can be eligible for this opportunity.
- Interested candidates must be a citizen of Nigeria.
- Furthermore, applicant must be between the ages of 18-35 years.
- Also, applicant must have a business idea which he/she wants to establish.
- Applicant must have a registered business no matter how small it is.
- Very importantly, applicants must have a mean of identification and of course, a guarantor(s).
Never think of patronising anyone to make way for you to be a be beneficiary of this scheme. The selection is strictly monitored by the ministry of Youths and Sports. Therefore, beneficiaries are selected by merit and qualifications.
How To Apply
According to the minister of Youths Sports Development, interested youths who fall between the ages of 18-35 can visit and micro-credit bank in Nigeria to access the loan.
Once you are elligible for this loan offer, go to any of the micro-credit banks in Nigeria and request for the form.
For more enquiries, visit the official website @ www.nyif.nfmb.com.ng
Meanwhile, you can ask any questions and expect an immediate response.
Kindly share this post to inform others just like you have been informed too.