What You Should Know About NYIF
- The Nigeria Youth Investment Fund, NYIF, is a N75 billion Fund by the Nigerian Government.
- The NYIF is dedicated to investing in the innovative ideas, skills, talent and enterprise of the Nigerian Youth and aim at turning them into Entrepreneurs, Wealth creators and employers of labour contributing to national development.
- NYIF is a ring-fenced fund that will provide a minimum of N25 billion each year for the next 3 years (2020-2024) totaling N75 billion.
- NYIF is part of the Federal Government National plan to convert Youth unemployment and drive innovation, fuel entrepreneurship as well as support your MSMEs
- The Nigerian Youth Investment Fund (NYIF) a ring-faced funding that will strictly cater to the investment needs of persons between the ages of 18 and 35 years old.
- NYIF is designed to provide a less cumbersome access to credit and finance for the average Nigerian Youth and birth a whole generation of Entrepreneurs.
- The fund aims to reach 500,000 youth annually between 2020-2014. Each fund approval will range from N250,000-N50,000,000.
- Disbursement will be through various channels, which will include micro credit organisation across the country under the Cental Bank of Nigeria (CBN) supported by Bank of Industry (BOI), Fintech Organisations, and Venture Capital Organizations registerd with the CBN.
Method Application: Method of Application will soon be unveil as the programme is under inauguration and implementation but still you can login to the ministry of youth and sport website below for updates;
The Ministry of Youth and Sports Development is the lead Ministry working with Ministry of Finance, Budget and National Planning, the Central Bank and other relevant MDAs in the implementation of the NYIF.