The Nigerian Youth Investment Fund (NYIF) is a new initiative by the Federal Government in collaboration with the Central Bank of Nigeria (CBN), NIRSAL Microfinance Bank and the Federal Ministry of sports & youth development.
The fund is aimed at providing financial support to young entrepreneurs in Nigeria across various sectors to grow their businesses and contribute to national the economy.
President Muhammadu Buhari in his speech commemorating the Nigerian Youth day revealed that over 1 million applicants have already applied to the scheme.
See also: How to access End Sars relief funds.
Meanwhile the Central Bank of Nigeria has released the criteria for both eligible and ineligible businesses who can apply.
Eligible sectors for the NYIF:
- Agriculture and related value chain
- Green Economy and Renewable energy sector
- Logistics and supply chain
- Healthcare value chain
- Creative sector
- Trading and services
- Others as may be determined by NYIF/CBN from time to time.
- Applicants that are currently enjoying NIRSAL Microfinance Bank (NMFB) loans – which includes Targeted Credit Facility (TCF) and Agribusiness/Small and Medium Enterprises Investment Scheme (AgSMEIS) loans, that remains unpaid.
- In addition, beneficiaries of other government loan schemes that remain unpaid are also not eligible to participate in this scheme.
How to Apply for Nigerian Youth Intervention Fund (NYIF)
Participants are expected to visit the Nigerian Youth Intervention Fund (NYIF) Portal to apply.
You will be expected to provide your BVN as well as other basic information for enrollment.
Apply at https://nyif.nmfb.com.ng/
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