The application portal for the N75bn Nigeria Youth Investment Fund (NYIF) is officially opened for registration.
The Personal Assistant on New Media to President Muhammadu Buhari, Bashir Ahmad shared the information on his verified Twitter handle on Thursday.
Youths between (18-35 yrs) with business ideas that require funding can apply for N250,000 – N5,000,000.
NYIF was set up as an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria (CBN) to invest in youth ideas to build sustainable businesses that can activate enterprise and increase job opportunities in Nigeria, the FG said.
“The fund is dedicated to investing in the innovative ideas, skills and talents of Nigerian youths aimed at turning them into entrepreneurs, wealth creators and employers of labour, contributing to national development.
“The plan targets young people between the ages of 18-35 years and details the needed actions required to support business establishment, expansion and consequent employment creation for youth in critical economic and social sectors.
“The NYIF aims to financially empower Nigeria’s youth to generate at least 500,000 jobs between 2020 and 2023,” the apex government added.
Who can apply for Nigerian Govt’s N75bn National Youth Investment Fund?
Individuals / Non-registered Businesses
- Individual within the age bracket of 18 to 35 years
- Has a valid BVN and means of ID
- Provision of Business plan Summary or Completed Questionnaire
- Entrepreneurship Training Certification from FMYSD Entrepreneurship Development Institutes (EDIs)
- Formal business enterprises (Youth owned enterprises), duly registered with the Corporate Affairs Commission (CAC)
- Business plan Summary or Completed Questionnaire
- Valid Bank Verification Number (BVNs) of Directors
- Provision of Tax Identification Number (TIN)
- Entrepreneurship Training Certification from FMYSD EDIs
The Nigeria Youth Investment Fund application portal is https://nmfb.com.ng/nigeria-youth-investment-fund/.