NYIF Resumes Apply Now for Nigerian Youth Investment Fund 2024
Nigerian Youth Investment Fund 2024
NYIF Resumes Apply Now for Nigerian Youth Investment Fund
The Nigerian Youth Investment Fund launched in 2020 as a 3 years ring-fenced fund has been restarted after the current administration saw the need to institutionalize the program and released 110 billion for the project’s sustainability in May this year.
Following the release of this fund, the Ministry of Youth Development has announced the commencement of fresh applications for all interested and eligible Nigerian youths with fundable business ideas or startups. Read all the requirements for the application below and start your application now before the portal closes.
Apply Now: Presidential Conditional Grant
Requirements for the Nigerian Youth Investment Fund
Interested applicants for this loan and grant program should meet these requirements to be eligible for funding
- You must be a Nigerian by birth
- You must be between the age of 18-40 years
- You must have a valid means of identification(National Identity Card, Permanent voters card, International passport, Drivers license)
- You must have a fundable idea
- Applicant must submit a business proposal
- You should have a registered business name/company
- You should have a valid BVN(Bank Verification Number)
- NIN is a must-have for application
Read: Nigerian Army Recruitment
NYIF Loan/Grant Amount and Category
The amount of fund and type of funding you are given depends on your type of business and the category it falls under as stated in the table below(please pay close attention to avoid making mistakes)
| S/N | Target Beneficiaries | Minimum Amount | Maximum Amount | |
| Categorization | ||||
| 1 | Start-ups and Early to Growth Stage Businesses | Loans | Three(3) Million | Twenty(20) Million |
| 2 | Growth Stage Business and Others | Loans | Fifteen (15) Million | Fifty(50) Million |
| 3 | Start-Ups, Early to Growth Stage, and High Growth Businesses | Grant & Equity | Ten(10) Million | One Hundred (100) Million |
How to Apply for Nigerian Youth Investment Fund 2024
Interested Nigerians who have successfully met the above criteria can submit their application forms online via the Ministry Youth Development official website using this link https://www.fmyd.gov.ng/nyif_application before the application closes. You can apply under a cluster or apply as an individual if you don’t know of any cluster or don’t have the intention of joining one.
Read: SMEDAN/Sterling Bank 5 Billion Naira Loan for SMEs
Documents to be Uploaded On the NYIF Portal
You will be required to upload the following documents while submitting your application;
- Copy of National Identification Card (NIN)
- Business Registration Certificate
- Business Plan/Proposal
- Proof of Business Ownership (if applicable)
After a successful application, ensure you check your email regularly and also make sure your phone sms is not on Do Not Disturb as this can prevent you from receiving invitations and other notifications needed to continue the funding process.
