Nigeria Youth Investment Fund (NYIF) 2020 (Up to N75 Billion funding)

Application is open to young Nigerians between the ages of 18 and 30 for the Federal Ministry of Youth and Sport N75 billion Nigeria Youth Investment Fund (NYIF).

Deadline: Unspecified

The Nigerian Youth Investment Fund (NYIF) was set up as an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria (CBN) to invest in youth ideas to build sustainable businesses that can activate enterprise and increase job opportunities in Nigeria. The fund is dedicated to investing in the innovative ideas, skills & talents of Nigerian youths aimed at turning them into entrepreneurs, wealth creators and employers of labour, contributing to national development.

The N75 Billion Nigeria Youth Investment Fund (NYIF) targets young people between the ages of 18-35 years and details the needed actions required to support business establishment, expansion and consequent employment creation for youth in critical economic and social sectors.

Successful applicants will undergo 5 days of compulsory online training which is free. Fund approval will range from N250,000 to N5,000,000 with a spread across group applications, individual applications, working capital loans set at 1 year, and term loans set at 3 years.

Objectives

• Access- Improve access to finance for youth and youth-owned enterprises, for national development

• Employment – Generate much-needed employment opportunities to curb youth restiveness.

• Training – Boost the managerial capacity of the youth and develop their potential to become the future large corporate organizations.

Eligibility

Individuals / Non-registered Businesses

• Individual within the age bracket of 18 to 35 years

• Has a valid BVN and means of ID

• Provision of Business plan Summary or Completed Questionnaire

• Entrepreneurship Training Certification from FMYSD Entrepreneurship Development Institutes (EDIs)

Registered Businesses

• Formal business enterprises (Youth owned enterprises), duly registered with the Corporate Affairs Commission (CAC)

• Business plan Summary or Completed Questionnaire

• Valid Bank Verification Number (BVNs) of Directors

• Provision of Tax Identification Number (TIN)

• Entrepreneurship Training Certification from FMYSD EDIs

Requirements

• Phone

• Gender

• Residential Address

• Geo-Political Zone

• State of Origin

• LGA

• Educational Level

• Select Preferred Training Center

• How did you hear about NYIF?

Click here to apply

See Official Link