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The Federal Government of Nigeria recently introduced the Nigeria Youth Investment Fund (NYIF) to serve as a catalyst to unleash the capabilities of young mobile Nigerians, thereby taking the youths out of poverty line to better fortunes and wealth.
The Nigerian Government in the wake of the COVID-19 pandemic has launched several initiatives to cushion the devastating effects of the global scourge.
It is indeed good news that the Central Government is now factoring in the contribution of the youths to boost the Nigerian economy by making much needed finance available for entrepreneurial activities.
The NYIF has been designed to reach 500,000 youths annually between 2020 and 2023, with amounts ranging from NGN250,000 to NGN50,000,000, categorized into group applications, individual applications and working capital loans, with tenor ranging between one (1) year and three (3) years respectively and single digit interest rates.
Requirements to access the NYIF include but is not limited to the following depending on individual applications:
- Official Government Identification
- Applicant must be between the ages of 18 and 35 years old
- Notarized Guarantor Forms
- Passport photographs
- Bank Verification Number
- Training Certificate
- Fundable business idea
- Registered business
- Nigeria Citizenship
- National Youth Service Corp (NYSC) certificate for graduates
Want to access the NYIF? Hit the link https://noya.ng/home.aspx
