Nigeria Youth Investment Fund (NYIF) Program Re-Opened
The Federal Government, through the Ministry of Youth Development, has re-opened applications for the Nigeria Youth Investment Fund (NYIF) program.
The Ministry announced this on its official X handle, providing a link to the application.
CALL FOR APPLICATION: NIGERIA YOUTH INVESTMENT FUND
Are you a young entrepreneur with a vision for the future? The Federal Ministry of Youth Development is excited to relaunch the Nigeria Youth Investment Fund (NYIF).
Approval of the NYIF
In May, Dr. Jamila Bio-Ibrahim, the Minister of Youth Development, announced the Federal Executive Council (FEC) approved N110 billion in capital for startups and early-stage businesses targeting the youth demographic.
Dr. Bio-Ibrahim highlighted the goals of promoting well-being, excellence, national unity, and sustainable development, enabling young Nigerians to realize their full potential and contribute to the nation’s progress. She reaffirmed the ministry’s commitment to implementing comprehensive reforms within the National Youth Service Corps (NYSC), focusing on skills development to enhance youth corps members’ capabilities.
About the Nigeria Youth Investment Fund (NYIF)
The NYIF is a government initiative designed to empower Nigerian youth by providing financial support to help them start or expand their businesses. Launched by the Federal Ministry of Youth and Sports Development, the NYIF addresses the challenges young entrepreneurs face in accessing capital. The fund offers various financial instruments, including loans, grants, and equity, to eligible applicants, promoting economic growth, job creation, and youth empowerment across various sectors.
Initially established in 2020, the NYIF was set at ₦75 billion, aiming to generate at least 500,000 jobs between 2020 and 2023, with an initial seed capital of N12.5 billion. The Nigerian Youth Employment Action Plan, developed by the Federal Ministry of Youth and Sports Development (FMYSD), responds effectively to the youth employment challenge in Nigeria.
The plan’s major objectives are to address the fragmentation of youth initiatives and provide Nigerian youth with the investment inputs required to build successful businesses that can become sustainable employers of labor and contributors to Nigeria’s development.
How to Apply
Interested applicants are expected to visit here to apply.