NYIF Online Application Form Portal 2024/2025
Are you interested in applying for the National Youth Investment Fund in 2024? This information is for you. The Nigerian government has approved N110 billion to revitalize the National Youth Investment Fund (NYIF) for 2024, aiming to enhance youth empowerment and entrepreneurship.
About NYIF
The Nigeria Youth Investment Fund (NYIF) is a government-supported initiative in Nigeria aimed at providing financial support to young entrepreneurs and small businesses in the country. The fund is managed by the Central Bank of Nigeria (CBN) and was launched in 2020 in response to the economic impact of the COVID-19 pandemic on young people and small businesses in Nigeria.
The NYIF is designed to provide financial assistance to young people aged 18-35 who are interested in starting or growing a small business in Nigeria. The fund is intended to help young entrepreneurs overcome financial barriers to starting and growing a business, such as lack of access to credit or insufficient capital to invest in equipment and other resources.
To be eligible for the NYIF, applicants must be Nigerian citizens aged 18-35, have a viable business idea or an existing small business, and meet other eligibility criteria as determined by the CBN. Interested applicants can apply for the NYIF through the CBN website or participating financial institutions.
The NYIF is just one of several initiatives the Nigerian government has implemented to support the growth of small businesses and entrepreneurship in the country. Other initiatives include the Nigeria Industrial Revolution Plan (NIRP), which aims to increase the competitiveness of Nigerian industries, and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), which provides support and assistance to small and medium-sized enterprises in Nigeria.
The Nigeria Youth Investment Fund and the Central Bank of Nigeria (CBN) have compiled a list of the businesses and projects that are qualified to receive investment from the fund, and the list can be found here.
To be taken into consideration for the Nigerian Youth Investment program, businesses that have already been registered and that are interested in taking part in the initiative are required to provide the information that is listed below.
- Email address
- Personal name
- Business name
- Address
- Business Type
- CAC registration details
Businesses Ineligible to apply for NYIF Registration
According to the publication, potential applicants for the Nigerian Youth Investment Fund who have loans from the NIRSAL Microfinance Bank (NMFB) that are still outstanding, including loans from the Targeted Credit Facility (TCF) and the Agribusiness/Small and Medium Enterprises Investment Scheme (AgSMEIS), are not qualified to apply to the fund.
People who have received loans from other government programs but have not repaid them are not eligible to participate in this particular program either.
Eligible Businesses/activities for the NYIF Scheme
The Central Bank of Nigeria (CBN), as part of the framework, also provided specific information regarding the kinds of businesses and activities that are legally allowed to be eligible for participation in the plan. The following are some of them:
- 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 NYIF/CBN from time to time.
The CBN, on the other hand, specifies that preference should be given to businesses that would contribute to the expansion of priority sectors.
NYIF Application Form Portal 2024
IMPORTANT NOTICE: NYIF application 2024/2025 has not yet commenced, DISREGARD any form of advert you come across. This page will be updated immediately after the NYIF online application form portal is online.
We recommend that you bookmark or save this page and refresh it often. This way, you won’t miss any updates or changes made by the authorities. Rest assured we’ll promptly deliver the most recent information as soon as it’s released.
Should you have any queries or require additional information about the NYIF application 2024, please drop us a line in the comment section below. Our team is dedicated to assisting you and will promptly address any concerns you may have.