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ALERT: You can now register for FG’s N75bn youth investment fund

The federal government says it has opened the portal for Nigerians to apply for its N75 billion youth investment fund.

The initiative of the ministry of youths and sports is being funded by the Central Bank of Nigeria (CBN).

On July 22, Sunday Dare, minister of youth and sports development, announced that the federal executive council approved the establishment of NYIF to the tune of N75 billion.

The NYIF is dedicated to investing in the innovative ideas, skills, talents and enterprise of the Nigerian youth with the aim of turning them into entrepreneurs.

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Dare had explained that the funding targets 500,000 youth annually.

He said a minimum of N25 billion will be disbursed each year over the next three years, totalling N75 billion.

Dare said for the remaining part of 2020, an initial sum of N12.5 billion will be needed to commence the NYIF.

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He added that the initiative, which is part of President Muhammadu Buhari’s plan to address unemployment in the country, will be sustained by successive governments.

“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%,” he said.

The minister said disbursement of the fund will be through various channels, which will include micro credit organisations across the country the CBN supported by the Bank of Industry, fintech organisations and venture capital organisations registered with the CBN.

According to him, the ministry of finance, budget and national planning and the CBN will provide the initial financing for NYIF, while youth seeking to benefit from the fund must have genuine business ideas and registered business entities.

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He added that such persons must be citizens of Nigeria and must be able to provide recognised means of identification and guarantors.

Interested applicants can access the registration portal via this link.

61 comments
      1. This is a great opportunity to youth that have zeal and jealious to deeply into business and depending themselves for future in advance to make Nigeria better ,so thankful thanks God that show us this pmb government, may God bless Nigerian Nigeria peaceful and achievement in each line underline by our government

    1. Please I need this money to finance my snail farm business and I believe the disbursement will be transparent.
      Thank u nice move by the FG

  1. This fund will enable me establish a good rice farm, poultry and fish farm. So I appeal that I should be considered.

    1. I think this is a great step of empowerment to the youth, this is what we all have been expecting from our leaders, and with this there will be less crime in the country

    2. I would need the money to start up my own pharmacy store for I have graduated from University of Delta State of school of health

  2. The application process/form is not here, it’s not functional. Hope this is not another mind game politics that you’re bringing in.

    Since , over six years I graduated, no work , no money to start up business. Am only surviving by his grace through online marketing that comes in once in a while. If the government can hear our cry more especially me , I’ve learnt alot OF businesses/skilss and agriculture but no capital.

    I’ll be happy if am been offered a capital of 15 -18million to start up either of the followings…poultry farm ,red oil production, full cream powdered milk production, shea butter and dry cassava.

    1. I need to start up my business which is a make up business all I need is a fund I have done my make up training I need support please to start the business thank you for this opportunity

  3. Please we are all Nigeria youth, and need help from our leaders ohhh because we all have a good reason and good plans towards the money aspect, and am happy because this will really help our youths a lot

  4. Will thank god for this life but no job no business to do. be cos no money i want the government to looking into this. How can somebody be a graduate and he or she have no job is very bad the government should help us. That is my opinon let us pray for Nigerian and god bless Nigeria.

  5. Am very happy for this great development i believe it can help and Burst the moral of the youth more especially we that are not working yet for me i will use the money and invest in my small cocoa buying business and i believe it would go a long way

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