Details and how to apply for Nigeria Youth Investment Fund (NYIF) 2024 Application.
The Federal Executive Council approved the take-off of the restructured N-YIF for an initial seed-up capital of N110 billion in March 2024.
The goals of the N-YIF include improving access to finance for youths and youth-owned enterprises for national development; generating much-needed jobs to curb youth restiveness; encouraging out-of-school, marginalised, unemployed and under-employed youths to go into sustainable, viable, income-generating projects or ventures; and promoting the active participation of youths in socio-economic development in Nigeria through youth enterprise clusters across the country.
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This is a program directed at 18- to 40-year-olds. Clearly, it spells out what should be done to attain the twin goals of establishment and expansion of business and, concurrently, that of job creation.
The Fund shall financially empower the Youths to generate at least one million jobs by the year 2024.
Objectives of the NYIF 2024 Application
- To reduce youth unemployment by fostering entrepreneurship.
- To provide young entrepreneurs with access to affordable finance.
- To support youth-led businesses in achieving sustainable growth.
- To encourage innovation and creativity among the youth.
- To create job opportunities and improve the standard of living.
Eligibility Criteria for Nigeria Youth Investment Fund (NYIF) 2024 Application.
To be eligible for the NYIF, applicants must meet the following criteria:
- Be a Nigerian citizen aged between 18 and 40 years.
- Have a business or business idea that aligns with the Fund’s objectives.
Possess a National Identification Number (NIN). - Demonstrate a willingness to contribute to Nigeria’s economic development.
- Provide a viable business plan.
How to Apply
- Register: Create an account on the NYIF portal.
- Complete Application Form: Fill out the online application form with accurate personal and business details.
- Upload Documents: Attach the required supporting documents.
- Submit Application: Review your application and submit it online.
Required Documents for Nigeria Youth Investment Fund (NYIF) 2024 Application form.
Applicants must upload the following documents:
- Copy of National Identification Card (NIN)
- Business Registration Certificate
- Business Plan/Proposal
- Proof of Business Ownership (if applicable)
Application Process for Nigeria Youth Investment Fund (NYIF) 2024.
Step 1: Online Registration and Application Step 2: Submission of Required Documents Step 3: Application Review and Verification Step 4: Funding Decision and Disbursement
Frequently Asked Questions (FAQs)
Q: What is the maximum amount I can apply for?
A: The maximum funding amount will depend on the business needs and the evaluation of your business plan.
Q: How long does the application process take?
A: The application review process typically takes 4-6 weeks. However, this may vary depending on the volume of applications received.
Q: Can I apply if I don’t have a registered business?
A: You can apply if you have a viable business idea and meet the other eligibility criteria. However, you will need to register your business before the funds can be disbursed.
Q: Is there a fee for applying for the NYIF?
A: No, the application process is free of charge.
Use the link below to Apply as Clusters
