Apply For Nigeria Youth Investment Fund (NYIF) Programme

Welcome To Nigerian Education Portal. This Article Contains The Brief About Of NYIF Programme, FMYD Initiatives Programmes By FGN, Requirements and Eligibility, Application Process and Method of how to Apply NYIF Programme.

About NYIF Programme

Federal government of Nigeria is set to a new scheme application for 110 Billion Naira to Nigerian youth investment fund (NYIF) in the month of July, 2024. So interested and eligible Nigerian youth should get ready as the federal plans to empowers and uplifting youth with funds to starts and or improve their business capability.

NYIF Programme is not a newly programme, it’s a programme launched by the previous administration under the leadership of General Muhammadu Buhari the former president of Nigeria. This programme is created to support Nigerians youth with Loan to maintain their businesses, and improve the performance of their business operations.

NYIF Application Form is begins today 27th July, 2024 to any eligible Nigerians, NYIF Application Form is available at the NYIF portal, interested and qualified applicants are to submit their Applications.

NYIF is a Loan Application Programme, designed under FMYD, for more about the Programme click About NYIF 

FMYD Initiatives Programmes By FGN

The Federal government of Nigeria (FGN) has Initiatives six (6) Programmes to Support Nigerians, the initiatives programmes were outlined below: to known the full details of any of the following programmes Programmes

1. NigeriaYouth Investment Fund ( NYIF)
2. National Youth Service Corp (NYSC) Reforms
3. Nigerian Youth Academy (NiYA)
4. National youth skills program (NYSP)
5. National youth development (NEXTGEN) Bank
6. Young Leaders Institute (YLI)

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Requirements and Eligibility

To be qualified for Funding Approval and disbursement fund, Applicants Must meets the Eligibility outlined below:

1. Applicants Must be between the age of 18-40 years old.
2. Applicants Must be a Nigerian citizen by Birth.
3. Any business men/women must  have a business experience/idea alignments with the funds necessarily and  wholly for the business.
4. Must provide a certain business plan align with business needs
5. Applicants must have a valid National Identification Number (NIN), only NIN is accepted.
6. Applicants Must have an active Bank verification number ( BVN)

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Mandatory Documents Required

1. National Identification Number (NIN)
2. Business Registed Certificate ( CAC, Smendan)
3. Business Proposal
4. Business prof of Ownership as the case maybe.

NYIF Application Process

• Submit an online Application form
• Submit a mandatory Documents
• Review of Application form by the NYIF review Committee
• Verification of Application by the Verification Committee
• Funding Approval
• Disbursement of Fund to Qualified once.

Important Note:

NYIF Programme: NYIF its a Loan Programme to Nigerians
Loan Disbursement: A Maximum of 50M Naira
Loan Tenor: A Maximum of Five (5) years period
Loan Interest: 5% is to be charged as an interest rate

Moratorium: One year period (12 Month)

Method Of How To Apply

• Visit NYIF Loan Programme Portal via https://fmyd.gov.ng/nyif_application
• Create an account using Name, Email address and Phone number.
• Fill and complete the Application Form with your Personal Informations
• Uploads a Cleared Mandatory Documents
• Provides Two 2 Referees
• Finally, Submit an Application Form.

Conclusion

In a Conclusion, Nigerian Youth Investments Fund (NYIF) is a renewable Programme continues by the Present government under the leadership of Ahmad Bola Tinubu. 110 Billion Naira is set for NYIF Programme to businesses across the Nigerian states.

NYIF Programme was launched since the previous government of Muhammadu Buhari, the aims of this programme is to assist/support Nigerians with Loan Application Programme to any eligible businesses, especially owners businesses with Business registration Certificate ( CAC number).