In this article, I will show you how to apply for NYIF NMFB loan called Nigeria Youth Investment Fund (NYIF). See NYIF loan value, interest rate, requirements, and how to apply.
The NYIF is an Initiative of the Federal Ministry of Youth and Sports Development funded by the Central Bank of Nigeria. The application form is available at the NYIF application portal – www.nyif.nmfb.com.ng.
The Federal Government of Nigeria, through the Federal Ministry of Youth and Sports Development, has officially launched the NYIF application form for the N75 Billion Nigeria Youth Investment Fund. By so doing, interested Nigerian Youths between the ages of 18 to 35 years can apply to get
What is Nigeria Youth Investment Fund (NYIF)?
The Nigeria Youth Investment Fund (NYIF) is a Federal government loan in partnership with the Central Bank of Nigeria and the Ministry of Finance, Budget and National Planning. The loan has five a years tenure with a moratorium of up to 12 months.
NYIF interest rate:
5% per annum. The loan provided under NYIF had an interest rate of five per cent per annum.
As we speak, a total of N75bn has been made available and will spread over three years to cater to youth-owned businesses and investment needs in Nigeria.
NYIF Loan Value:
Nigerian Youths who are applying as individuals or non-registered businesses can get up to N250,000, while youth-owned registered businesses could apply for up to N3m. You see how to register your business in Nigeria.
NYIF payment bank: NISRAL Microfinance Bank (located in almost all states of the federation).
Nigeria Youth Investment Fund Requirements
These are the things and information you need to apply for the ongoing NYIF loan.
- A good business idea
- Age: Not more than 35 years.
- Mobile or Smart Phone
- Residential Address
- Geo-Political Zone
- State of Origin
- Educational Level
- Select Preferred Training Center
- How did you hear about NYIF?
How to Apply for Nigeria Youth Investment Fund (NYIF)
Youth with business ideas that need funding can apply for the NYIF loan follow the instructions below;
- Visit the NYIF application portal: https://nyif.nmfb.com.ng/Applicants/New
- Type in your First name, Middle name and Surname.
- Type in your BVN and click the “Next” button.
- Follow the form fields to complete the form.
How to Succeed
Please note that the N75 Billion Nigeria Nigerian Youth Investment Fund is a dedicated fund aiming at investing in innovative ideas, skills, talents, and enterprise of the Nigerian Youth. The main goal is turning Nigerian Youths into Entrepreneurs, wealth creators and employers of labour contributing to national development.
Therefore, you succeed in getting this loan, you have to submit a killer business idea that has the potential of changing lives. We have various great business ideas you can choose from. See the list below;
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