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The Federal Ministry of Youth and Sports Development, on Thursday, October 15, 2020, flagged off the application for the N75 billion Nigeria Youth Investment Fund (NYIF) recently approved by the Federal Government.
During the launch of the application, the Minister of Youth and Sports Development, Sunday Dare, said that the NYIF underscored the importance placed on youths by the current administration.
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The Minister said that the fund, which is an initiative of the Federal Ministry of Youth and Sports Development and funded by the Central Bank of Nigeria (CBN), would be spread over 3 years to cater to youth-owned businesses and investment needs.
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Sunday Dare stated, “I must mention the support we enjoyed from the Central Bank of Nigeria (CBN), which in line with the President’s directive, provided the initial N12.5 billion required for the Fund to operate in the remaining part of the year 2020.
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“We are also grateful that the Ministry of Finance, Budget and National Planning has on its part, committed to providing the next tranche of the fund in the 2021 budget.’’
The Minister said that the loan, provided under the NYIF, has an interest rate of 5% per annum and a tenor of 5 years with a moratorium of up to 12 months.
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He explained that any youth who wished to apply as an individual or a non-registered business could draw up to N250,000, while youth-owned registered businesses could apply for up to N3 million.
Going further, he said, “Our commitment to seeing the youth succeed is such that the loan is bundled with training that will ensure business sustainability for successful applicants.
“It is my belief that the fund will grow to become a permanent feature of our society, where beneficiaries run successful businesses and repay the loans.”
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The Minister said that application is available on the Nigeria Youth Investment Fund Application Portal on NIRSAL Microfinance Bank’s site, www.nmfb.com.ng; and the ministry’s website, www.youthandsport.gov.ng or www.noya.ng.
Applicants are expected to provide their Names, Email address, and Website (if available).
When will the federal ministry of Youths and Sports organized training center for the the applicants?
Please, in the form provided for applicant, a bvn was requested… Why bvn.?
I didn’t see any place where BVN was required in the form. Please help me and direct me
I guess to ascertain your real age
I didn’t see any place where BVN was required in the form. Please help me and direct me
I have filled the form but I didn’t see any provision for BVN space. Please help me
Adeyemo Aderonke Maria
I have filled the form any update on the training program time and venue for the appointment
Sir,
This really a great package indeed.
Could you please tell me the conditions and necessary documents for eligibility
Is there any noninterest loan available now that somone can apply for.
I have served since 2019 and no reasonable job since then, I will be glad if you can help me with money to start up my own business
Imagine a whole said government website showing error a website trainee can’t afford to make.
Nigeria government have started their lies again, it’s on internet we would be seen it but real real life it’s all about fake news or people in charge of it have embezzled it. why can’t Nigeria empowerment be real for once.
Please what is eligibility
I don’t trust anything from this government! It’ll take years to build any element of trust in any Nigerian government engagement. #Deceitful, #untrustworthy!
Sir,
This really a great package indeed.
Could you please tell me the conditions and necessary documents for eligibility
Please where can I get my form?
Please let the federal government asure it, because this will another opportunity for we yonth
Sir please how do I get link for over 3days I have registered through online about the form but no reply yet in my e-mail. I speaks french, An Actor, Comedian and movie producer…sir I need your help,Thank you.