Apply for the Nigeria Youth Investment Fund Loan 2024/2025.
The Nigeria Youth Investment Fund (N-YIF) is back and better! Launched in March 2024, the Federal Executive Council approved a whopping N110 billion to kickstart this initiative. The goal? Empower Nigerian youths aged 18 to 40 to create jobs, foster entrepreneurship, and drive national development.
Key Highlights of the 2024 N-YIF Program
- Fund Size: N110 Billion
- Disbursement Limits:
- Loans: Up to N50 million
- Equity: Up to N100 million
- Tenor: Maximum of 5 years
- Interest Rate: Up to 9%
- Moratorium: Up to 18 months
- Monitoring: Partner financial institutions will oversee processing and evaluation.
Eligibility Criteria
To qualify for the N-YIF, applicants must:
- Be a Nigerian citizen aged 18-40.
- Have a business or business idea that aligns with the Fund’s objectives.
- Possess a National Identification Number (NIN).
- Show a commitment to Nigeria’s economic development.
- Provide a viable business plan.
See Also: FG is Accepting Applications for a n100 Million AI Fund Sponsored by Google.
Required Documents
Make sure to upload:
- Copy of National Identification Card (NIN)
- Business Registration Certificate
- Business Plan/Proposal
- Proof of Business Ownership (if applicable)
How to Apply
- Register: Create an account on the N-YIF portal.
- Complete Application Form: Fill out the online form with accurate details.
- Upload Documents: Attach all required supporting documents.
- Submit Application: Review and submit your application online.
Application Process
- Online Registration and Application
- Submission of Required Documents
- Application Review and Verification
- Funding Decision and Disbursement
Ready to Apply?
Visit the Nigeria Youth Investment Fund Portal to fill out the online application form:
- NYIF 2024 Portal: NYIF Portal
- Links to Apply:
- For Individual Application, Click Here
- For Clusters Application, Click Here
See Also: Student Loan Registration: How To Apply and get quick Approval
Don’t miss out on this opportunity to transform your ideas into reality and contribute to Nigeria’s growth.
Join the conversation>>>> Whatsapp Group
Share this with at least three people who you think can benefit from it.
