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Home Financial Literacy Small Business

NYIF: Ministry urge fund applicants to come for their loan requests

Samson Akintaro by Samson Akintaro
May 10, 2022
in Small Business
FG will soon subsidize data – Sunday Dare

Sunday Dare, Minister for Youth and Sports Development

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The Federal Ministry of Youths and Sports Development is appealing to Nigerian youths who applied for loans under the Nigeria Youth Investment Fund (NYIF) to come for disbursement.

According to the Ministry, less than 14% of the newly shortlisted applicants from the 25,000 successful candidates, who are expected to be part of the loan, have responded to emails confirming their approval to receive the soft loan. 

While noting that instructions on how to access the funds are contained in the email sent, the Ministry expressed worry that the rate of response to the emails has been “quite low.” It added that those that responded have received the funds into their PFI designated bank accounts. 

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FEDERAL MINISTRY OF YOUTH AND SPORTS DEVELOPMENT

Press Release #NYIF Loan: Ministry Urges Shortlisted Applicants to Respond Promptly.

The Federal Ministry of Youth and Sports Development is currently delivering a fresh round of disbursements of the … pic.twitter.com/r8hN1TyoTM

— Federal Ministry of Youth Dev't, Nigeria (@NigeriaFMYS) May 10, 2022

What the Ministry is saying 

  • The Ministry in a statement signed by its Director, Press & Public Relations, Mohammed Manga, said: “The Nigerian Youth Investment Fund (NYIF) is being disbursed to the youth who have expressed business needs within a range of N250,000 to N3 million depending on the scale of the business and its evaluation.
  • “Shortlisted candidates must respond to communication in order to conclude the disbursement process. Those who fail to respond risk forfeiting this opportunity.  
  • “About 6,000 youth benefitted from the first set of disbursements in 2020 and the names of the beneficiaries have since been made public.
  • While in the second batch 4,375 have so far responded to their loan offer messages and received their funds.”

  What you should know 

  • The Federal Ministry of Youth and Sports Development (FMYSD) and the Central Bank of Nigeria launched the NYIF in 2020 which aims to financially empower Nigerian youth to generate at least 500,000 jobs between 2020 and 2023. It was funded with an initial take-off seed capital of N12.5 billion 
  • The major objectives of the fund are to address the fragmentation of youth initiatives that prevent assessment of impact and to provide the Nigerian youth with investment inputs required to build successful businesses that can become sustainable employers of labour and contributors to Nigeria’s development. 

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Tags: Nigeria Youth Investment FundNYIF
Samson Akintaro

Samson Akintaro

Samson Akintaro is a tech enthusiast and has over a decade experience covering and writing about the tech industry. He is currently the Tech Analyst at Nairametrics.

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Comments 30

  1. Adikeh Nguper says:
    May 10, 2022 at 5:40 pm

    what are they even saying? Most of us were shortlisted and trained in November last year, and up till this very moment the ministry has not sent us any approval mail. We are even tired of waiting.

    Reply
    • Shina says:
      May 11, 2022 at 6:59 pm

      Pls those of us who got in through the Next titan Organizers, what are we to do because we did not get any mail but all details that were required of us we submitted to the Next titan Organizers

      Reply
      • onye says:
        May 23, 2022 at 12:43 pm

        even me, i was called, and shared my bvn and other details needed, up till now nothing.

        Reply
  2. Amodu Monday says:
    May 10, 2022 at 7:27 pm

    Can one who is interested apply for the loan again?
    If yes which links please , so that one doesn’t fall victim.
    Thanks

    Reply
  3. Ayoola says:
    May 10, 2022 at 10:19 pm

    Several beneficiaries have tried to fill and submit the offer letter as required, but the mail address given for submission seems to be too full to receive any more mails from us ( beneficiaries)

    Reply
    • Tochi says:
      May 11, 2022 at 4:39 pm

      Continue trying to send it, it will go.
      That’s how my own was doing. I have received my fund.

      Reply
  4. Obi chika martins says:
    May 11, 2022 at 6:59 am

    I applied for the loan nirsal and covid till date have not gotton anything no response nothing at all

    Reply
  5. Oloye john says:
    May 11, 2022 at 3:38 pm

    Oloye john
    I applied for Nyif but i didn’t receive message from my email

    Reply
    • Badaiki Omozuafo Emmanuel says:
      May 18, 2022 at 10:29 pm

      Of course! I tried to reach them.with a reply of.acceptance but all proved abortive.

      Reply
  6. Charkup says:
    May 11, 2022 at 7:41 pm

    No be una carry money give police?

    Reply
  7. Ipindola Temitope Ayodeji says:
    May 11, 2022 at 8:58 pm

    I have received message since last year June 2021 but I don’t where I will collect the money before my phone lost,pls kindly assist me how I can get the money.send by lpindola Temitope Ayodeji Thanks very much sir/ma

    Reply
  8. Letam Nwilesi says:
    May 11, 2022 at 9:39 pm

    I have responded and even gone to LAPO office to fill their forms, but I’ve not gotten any feedback from LAPO till now. Mine is Rivers state

    Reply
  9. SANNI TAOFEEK OLADIMEJI says:
    May 12, 2022 at 12:10 pm

    Have completed the whole process for 2 weeks now no show no money no message from them nyif or npf….

    Reply
  10. Baba gana modu says:
    May 12, 2022 at 9:24 pm

    Good evening my name is baba gana modu from borno state i beg entire nyif/npf micro finance to pay the money on time so govt will put smile on youth faces and shun the step of offer letter b/c it delaying the process of payment payment.

    Reply
  11. Ibrahim Sadiq says:
    May 15, 2022 at 2:55 pm

    Hm, me since i was notified that i am pre-qualified i din’t even attend the online training hw my case is?

    Reply
  12. Ebere says:
    May 19, 2022 at 8:27 am

    The link is not opening , how come government says they are pleading the youth to login and complete the process,
    Pls for Christ sake the link is not working
    The NYIF link is not functioning

    Reply
  13. Aminu magaji says:
    May 23, 2022 at 2:47 pm

    This the first facing challengies of all beneficiaries unda nyif loan approval ,still we are waitng for been commencement with yours federal government.

    Reply
  14. Aminu magaji says:
    May 23, 2022 at 2:49 pm

    Needed for taking serious payment about nyif tnk

    Reply
  15. Kwembe isaac ushahemba says:
    May 29, 2022 at 11:38 am

    I could mistakingly sent in my union bank account number instead of micro finance bank accoun number so are my chances.

    Reply
  16. Kwembe isaac ushahemba says:
    May 29, 2022 at 11:45 am

    I mistakingly sent in my union bank account number instead of the micro finance bank account number requested for, so what are my chances?

    Reply
  17. Suleiman Abdulkadir says:
    May 30, 2022 at 1:29 pm

    I apply for nyif on 20219 I don’t see

    Reply
    • Ahmad alhaji muhammad says:
      June 21, 2022 at 7:28 pm

      Sir I m Ahmad alhaji Muhammad no sent my money n y I f sir helf me sir I neet capital I get shop my problems no capital,sir god help you in your life and children.

      Reply
  18. Oge says:
    June 7, 2022 at 10:25 am

    i can’t access the site , how can i get my cash

    Reply
  19. Abubakar says:
    June 22, 2022 at 6:51 pm

    Thank you

    Reply
  20. Hajara Abdullahi says:
    June 22, 2022 at 9:18 pm

    I Applied for Nyif and got the pre-qualified qualified message. And my name was in the list,But uptill now I have not gotten the money.kindly help me pls

    Reply
  21. Godbless zuakoro says:
    June 30, 2022 at 2:26 pm

    Hello sir my name is Godbless zuakoro.I applied for nyif and i also got the pre-qualified message.since then I have not heard anything for them again.sir pls help me out.thanks

    Reply
  22. Godbless zuakoro says:
    June 30, 2022 at 2:27 pm

    Help me out sir

    Reply
  23. Sixty Gbaski says:
    July 22, 2022 at 8:46 am

    Will never forget or forgive Nigeria on this… Went through the process during covid without data and strict movements and everything that period with borrowed laptop and all only to be selected and also confirm bvn on the site from email sent. next waiting for disbursement in account provided and nothing came, login to the site and no information again after a while site changed and here is this. You cant shame the shameless, Nigeria is like bet9ja or lottery. if you no sabi the bookers your game go cut finally.

    Reply
  24. Karimatu says:
    August 1, 2022 at 5:58 pm

    Ineed help

    Reply
  25. Jimoh ganiyu aberi says:
    September 4, 2022 at 4:12 pm

    Please sir, and ma , I have applied for the nyif since and am not see capital , I mean money in my account please I need your help any assistance

    Reply

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