How to Access 5-15 million Naira Loan From Nigeria Youth Investment Fund (NYIF)
Written by Olakunle Oke on August 5, 2024
In March 2024, the Federal Executive Council approved the launch of the restructured Nigeria Youth Investment Fund (N-YIF) with an initial seed capital of N110 billion. The N-YIF is a groundbreaking initiative designed to improve access to finance for Nigerian youths and youth-owned enterprises, thereby contributing significantly to national development. The fund’s objectives are clear:
Generate Employment: Addressing youth restiveness by creating much-needed job opportunities.
Empower Youths: Encouraging out-of-school, marginalized, unemployed, and underemployed youths to embark on sustainable, viable, income-generating projects or ventures.
Promote Participation: Enhancing the active involvement of youths in Nigeria’s socio-economic development through the creation of youth enterprise clusters across the nation.
The N-YIF is specifically targeted at young Nigerians aged 18 to 40, outlining the steps necessary to support business establishment, expansion, and job creation. This initiative is poised to financially empower Nigerian youths, with the ambitious goal of generating at least one million jobs.
How to Join:
If you’re a young Nigerian entrepreneur or aspire to be one, the N-YIF offers a unique opportunity to access the financial support and resources needed to turn your business dreams into reality. To join:
1. Eligibility Check: Ensure you meet the age requirement (18-40) and have a viable business idea or existing enterprise.
2. Application: Visit the official N-YIF portal and submit your application with all required documentation.
3. Training & Support: Successful applicants will undergo business development training to enhance their skills in managing and expanding their enterprises.
4. Access Funding: Qualified businesses will receive financial support to kickstart or scale their operations.
For more updates and to hear inspiring stories from N-YIF beneficiaries, tune in to Jordan 105.5 FM, where we bring you the latest developments on how Nigerian youths are transforming their futures with N-YIF.
