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Why Every Nigerian Youth Should Apply For The Nigerian Youth Investment Fund (NYIF)

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Nigerian Youth Investment Fund is an initiative that the government has created to uplift and make rises in the economy of the country (Nigeria) through an advantage and access to funds for youths. The finances been offered is hoped to serve as a means of which the youth can unleash their potential to enable a lot of them establish business ventures that can help diminish the unemployment rate in the country.

The Federal Ministry of Youth and Sports Development has commenced the process on how to open an application portal for Nigerian youths to apply for the Nigerian Youth Investment Fund, approved by the Federal Executive Council on Wednesday July 22, 2020, for establishment.

The Youth Fund is dedicated to investing in the innovative ideas, skills, talents, and enterprise of the Nigerian Youth and aimed at turning them into Entrepreneurs, Wealth Creators, and Employers of labor contributing to national development. President Buhari led the Federal Government to consider Nigerian youth as a resource to be harnessed and not a problem, hence the initiation of this Fund.

That is why as youths, you as Npower volunteers must not be left out of the Nigerian Youth Investment Fund loan to start

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The government aim through the Nigerian Youth Investment Fund is to reach 500,000 youths a year between the year 2020 – 2023, each finance approved will range from #250, 000 to #50, 000,000. In a spreed across group applications, working capital loans, individual applications, set at one year and term loans set at three years with a 5% interest rate.

Distribution of funds will be going through different channels that will include Finance firms, Micro finance, and deposit money banks regulated by the Central Bank of Nigeria and the Bank of industry.

REASONS TO APPLY FOR THE NIGERIAN YOUTH INVESTMENT FUND.

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1) By applying for the the NYIF you can startup or grow your business with the government loan and also have business benefits, it’s a great opportunity to not miss as a Nigerian Youth looking for money to finance he/her business.

2) The Nigerian Youth Investment Fund a funding that will be available for youths between the ages of 18 and 35 years old and you will be sure to get it and invest in your business.

3)The Ministry of Finance, Budget and National Planning (MFBNP) and the Central Bank of Nigeria (CBN) will provide the fund to startup the Nigeria Youth Investment Fund, which makes it legit and totally true.

4) A minimum of #25 billion a year for the next three years, totaling #75 billion will be needed to strengthen the Nigerian Youth Investment Fund, for the rest part of the year 2020 a specific sum of #12.5 billion will be needed to start-up the Nigerian Youth Investment Fund. So it confirmed that the government will make sure to have it be a successful funding for the three years to come.

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5) The Nigerian Youth Investment Fund is dedicated to investing in the innovative ideas, skills, talents, and enterprise of the Nigerian Youth and aimed at turning them into Entrepreneurs, Wealth Creators, and Employers of labor contributing to national development. President Buhari led the Federal Government to consider Nigerian youth as a resource to be harnessed and not a problem, hence the initiation of this Fund.

Over a million applications have already been received since the #75 Billion Naira Nigeria Youth Investment Fund Portal went live on Monday October 12th 2020.

This Fund will invest in the innovative ideas, skills and talents of young Nigerians aged 18-35.

Application still open at nyif.nmfb.com.ng

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