Are you looking for the application portal for Nigeria Youth Investment Fund (NYIF) Bank loan? Do you want to apply for NYIF fund loan via Noya site or the Ministry of youth and sports? Are you looking for steps on how to register for Youth Bank loan of N75billion ? Are you in search of NYIF Loan Application Form 2020/2021? See how to apply below.
In a move that underscores his absolute confidence in the innovative skills, talents and industry of the Nigerian youth, President Muhammadu Buhari on Wednesday led the Federal Executive Council to approve the establishment of the Nigeria Youth Investment Fund (NYIF) to the tune of 75 billion naira for 3 years.
NYIF PURPOSE –
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. Interested Nigerians seeking such loan will have to visit the NYIF website or the Nigeria Ministry of Youth and Sports. Link below.
WHAT YOU SHOULD KNOW WHILE APPLYING VIA NYIF PORTAL nyif.nmfb.com.ng | nyif | https://nyif.nmfb.com.ng
- The fund aims to reach 500,000 youth annually between 2020 and 2023. Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year and term loans set at 3 years with single digit interest rate of 5%.
- The Nigerian Youth Investment Fund (NYIF) a ringfenced funding that will strictly cater to the investment needs of persons between the ages of 18 and 35 years old.
- Nigerian Youth within the age of 18 and 35 years
- Youths with Innovative ideas, skills, talents and enterprise
HOW TO APPLY
The Ministry of Youth and Sports Development has been directed to immediately commence the process of operationalization and possible legislation of the NYIF in collaboration with relevant MDAs.
According to the Ministry of youth and sports development, the Nigeria youth investment fund (NYIF)will commence by September 2020.
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