10 Important things to know about the N75 Billion Nigeria Youth Investment Fund currently

In furtherance to the Nigeria Youth Investment Fund, an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria to invest in youth innovative ideas, skills and talents, transform them into Entrepreneurs and build sustainable businesses that can increase job opportunities in Nigeria, contributing to national development, here are 10 important things to know about the program currently.

1. Uploading of Business Plan has commenced officially through https://nyif.nmfb.com.ng/

2. For now, you must be trained before being granted a chance of uploading your budiness plan. Though, according to the zoom meeting  held days ago, there is a new modality that training would come after business plan upload and reviewing of the uploaded business plan.

3. If you have been trained and gotten your Certificate before the new plan, then you do not necessarily need a business plan to complete your application. You can answer the Technical Questionnaire carefully and you are on the go.

4. If you have been trained and gotten your certificate but it's still showing "sorry, you have not been trained" when you entered your BVN, please be calm as your details have not been uploaded in the Nirsal Portal. You can as well contact your Zonal Cordinator.

5. If you have applied with your BVN before the change of modalities but have not been trained, kindly wait for their invitation to enable you upload your business plan and get trained.

6. If you have not applied before the new modality, kindly tender your application as it's still on going at https://nyif.nmfb.com.ng/Applicants/New

7. The Nigeria Youth Investment Fund is a Loan and not a Grant.

8. The Loan will be disbursed and monitored by the Nirsal Microfinance Bank at 5% interest rate per annum, maximum of 5 years duration with payment plan distributed efficiently across the years, and incredible 12 months maximum moratorium. 

9. You must be between the age of 18-35 years before you can partake in the Program. Your BVN is the major criteria in verifying that.

10. If you do not have a registered business with Corporate Affairs Commision, you can only access a maximum of N250,000. With your CAC certificate, you can access up to  N3million as an individual and up to N10million as a group.

Here are key business sectors considered viable for loan consideration and approval as regards the Nigeria Youth Investment Fund. 

• Technology/ Innovation
• Agriculture and related value chain  
• Green Economy and Renewable energy sector  
• Manufacturing  
• Hospitality/ Tourism  
• Construction  
• Logistics and supply chain  
• Healthcare value chain  
• Creative sector  
• Trading and Services  
• Others as may be determined by FMYSD/CBN from time to time.

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