Apply for the Nigeria Youth Investment Fund (NYIF)
In March 2024, the Federal Executive Council approved the launch of the rebuilt N-YIF with an initial seed capital of N110 billion.
The N-YIF’s objective is to improve access to finance for youths and youth-owned enterprises for national development; generate much-needed employment opportunities to curb youth restiveness; encourage out-of-school, marginalized, unemployed, and underemployed youths to venture into sustainable, viable, income-generating projects or ventures; and promote active participation of youths in Nigeria’s socio-economic development through youth enterprise clusters.
The campaign targets young people aged 18 to 40. It explains the steps necessary to assist business formation, expansion, and job development. The fund intends to financially empower Nigerian youth to create at least one million jobs by 2024.
Objectives of the NYIF
- To reduce youth unemployment, encourage entrepreneurship.
- To give young entrepreneurs access to inexpensive financing.
- To assist youth-led enterprises in attaining sustainable growth.
- To encourage young people to be innovative and creative.
- To create jobs and raise the level of living.
Which Businesses Are Eligible to Apply for NYIF?
To be eligible for NYIF, your business must fall into one of the following categories:
Startups and Early to Growth Stage Businesses: Eligible for 3 million to 20 million.
Growth-Stage Businesses and Others: Eligible for 15-50 million.
High Growth Businesses: Eligible for 10 million to 100 million.
Eligibility Criteria for the NYIF
To be eligible for the NYIF, candidates must meet the following requirements:
Be a Nigerian citizen aged 18 to 40 years.
Have a business or business idea that is consistent with the Fund’s goals.
Have a national identification number (NIN).
Show your readiness to help to Nigeria’s economic progress.
Prepare a viable business plan.
Required Documents for the NYIF
The applicants must upload the following documents:
Please include a copy of your National Identification Card (NIN), business registration certificate, business plan/proposal, and proof of ownership (if applicable).
How to Apply for the Nigeria Youth Investment Fund (NYIF)
The application process for the NYIF is basic, and it includes the following steps:
Register: Click the button below to go to the NYIF Portal and establish an account.
Fill out this application form: The registration form requests basic personal and business information.
Submit Application: Once the form and papers are completed, applicants can examine them and submit the application online.
Complete the Application Form: Once registered, applicants must fill out an online application form. This form requests specific information about the company or business plan, such as financial predictions, market analysis, and business strategy.
Applicants must attach the following supporting documents: a copy of the National Identification Card (NIN), Business Registration Certificate, thorough Business Plan/Proposal, and proof of business ownership.
Application Process
The NYIF application procedure consists of several major steps:
Online Registration and Application: Applicants register and complete the application form on the NYIF website.
Document Submission: Applicants upload all necessary papers.
Application Review and Verification: Submitted applications are reviewed and verified to ensure that all information is correct and fulfills the fund’s criteria.
Funding Decision and Disbursement: Successful candidates are awarded funding based on their business needs and the strength of their business ideas.
