NYIF Update: FG reopens portal for Nigeria Youth Investment Fund Registration | NYIF Loan Scheme

The Federal Government has on Sunday reopened the portal for interested Nigerian Youths to apply for the Nigerua Youth investment fund.

The portal was closed by the Federal Ministry of Youth and Sports Development mid 2021 to enable processing of millions of application recieved from Nigerians Youths who wish to support their businesses.

The Nigeria Youth Investment Fund (NYIF) is a N75 Billion Loan Programme initiated  by the President Mohammadu Buhari led administration to invest in the innovative skills and enterprise of young Nigerians.

The loan has a single digit APR at 5% and a moratorium of 12 months before repayment. The Nigeria Youth Investment Fund was approved by Federal Executive Council in July 2020.

It is a N75 Billion Youth-based Loan Programme which is spread across 3 years and received application of over 3 million Nigeria Youths in its first year.

Out of the 3 million application recieved in 2020, only about 5,200 Youths have benefited from the Loan Programme in 2021 while about 10,000 Youths were recently pre-qualified for training - a prerequisite for accessing the loan.

According to a statistical report from the Federal Ministry of Youth and Sports Development, "2021 is the first year and only N3 Billion has been released and N2 Billion disbursed as part of the ongoing process."

The Federal Ministry of Youth and Sports Development has capped the maximum loan per qualified beneficiary at N300,000 to enable many youths benefit from the Loan Programme.

All interested applicants who wishes to apply for the loan programme should visit https://nyif.nmfb.com.ng/Applicants/New to fill the online registration form for the programme.

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