In a move that underscores his absolute confidence in the innovative skills, talents and industry of the Nigerian youth, President Muhammadu Buhari on Wednesday led the Federal Executive Council to approve the establishment of the Nigeria Youth Investment Fund (NYIF) to the tune of 75 billion naira.
Also Read: Presidential Youth Empowerment Scheme (P-Yes) – Register Now
NYIF is to serve as a sort of Youth Bank that will fund and support the innovative ideas, skills, talents and enterprise of the Nigerian Youth; a loan and credit pathway dedicated to assessing credit and soft loans.
The fund aims to reach 500,000 youth annually between 2020 and 2023. Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year and term loans set at 3 years with single digit interest rate of 5%.
The Ministry of Youth and Sports Development has been directed to immediately commence the registration process of NYIF. Application link can be found below
Do you have an existing business or a fundable business Idea?
Application link : https://nyif.nmfb.com.ng/Applicants/New
Also Read: FG COVID-19 Survival Fund Support Grants 2020 – MSME Payroll Support Scheme
Do you want a Job today? Click Here to see New Jobs in Nigeria Now!
To get more Updates
Ascentech Services Limited is a full-fledged Human Resource Solution Provider incorporated in 2013 with its…
CIIBEX Group Limited is a holding name for an indigenous conglomerate which comprises of eight…
The International Committee of the Red Cross (ICRC) is an impartial, neutral and independent organization…
NNPC Ltd/ TotalEnergies International Masters Degree Scholarship - 2024-2025. TotalEnergies is a global multi-energy company…
Seven-Up Bottling Company Limited is one of the largest manufacturing companies in Nigeria, producing and…
Jumia is Africa's leading internet group, with already over 3,000 employees in more than 20…