Nigeria Youth Investment Fund (NYIF)

AN INITIATIVE OF THE FEDERAL MINISTRY OF YOUTH

AND SPORTS DEVELOPMENT FUNDED BY THE CENTRAL BANK OF NIGERIA

The Nigeria Youth Investment Fund (NYIF) is to serve

as a sort of Youth Bank that will fund and support the innovative ideas, skills, talents and enterprise of the Nigerian Youth. A loan and credit pathway dedicated to assessing credit and soft loans. This is the very first of its kind by any Nigerian government.

The Nigeria Youth Investment Fund (NYIF) aims to reach 500,000 youth annually between 2020 & 2023. Each fund approval will range from N250,000 to N50,000,000. Working capital loans set at 1 year and term loans set at 3 years with single digit interest rate of 5%, and 1-year moratorium.” https://youthandsport.gov.ng/initial-information-sheet-about-the-nigerian-youth-investment-fund-nyif/

One of the most important features of the Nigeria Youth Investment Fund is that it is a ring-fenced fund with a restriction that it can only be used for a particular purpose - that the money goes directly only to the youth to fund their ideas & enterprise

ELIGIBILITY

Youth seeking to benefit must have: - 

• Fundable business idea that show Capital, Profit Margin, Over Head Cost, Market and 
• Registered Business. 
• Must be a citizen of Nigeria.
• Present recognized means of identification
• One guarantor.
• Graduate must have finish NYSC
• Non graduate must have valid means of Identification.
• National Identity Card, INEC Registration Card or Nigerian Passport.
• Bank Verification Number.

Potential beneficiaries will not need to know anyone or be ‘connected’ to access the fund.” 

Click here to apply