75bn Nigeria Youth Investment Fund (NYIF): How to Apply, All Details


The Federal Government, through the initiative of its  Ministry of Youth and Sports Development, has set aside a sum of 75 billion naira for the development of young adults in business nationwide. This is in the wake of a rising unemployment rate aided by an ailing economy and the damning aftermath of the Coronavirus lockdown. Although the 75bn (billion naira) Nigeria Youth Investment (NYIF) Fund has been rolled out for some weeks, many still do not know about this NYIF fund or how to access it. This article exists to highlight step-by-step procedures on how to get this NYIF fund.

The Federal Ministry of Youth and Sports Development is the primary handler of this scheme, with the Ministry of Finance, the Central Bank of Nigeria, and NIRSAL Microfinance Bank all playing vital roles in approval and disbursement of the 75bn loan scheme.

RELATED POST: NMFB CBN COVID-19 Loan without Collateral: nmfb.com.ng

Types of NYIF Provided

  • Individual (Unregistered business) Shall be determined based on the activity/nature of project subject to the maximum of N250,000 
  • Registered Businesses (Business name, Limited Liability, Cooperative, Commodity Association shall be determined by activity/nature of project subject to the maximum of N3.0 million (including working capital). 

Note: Immovable assets acquired with the loan must be registered with the National Collateral Registry (NCR)

To Apply: Visit https://nyif.nmfb.com.ng/Applicants/New

Eligibility for the 75bn Nigeria Youth Investment Fund (NYIF)

Informal Business Enterprises (Individuals and Sole Proprietors

  • Be a youth within the age bracket of 18-35 years. 
  • Have business/enterprises domiciled and operational in Nigeria. 
  • Has not been convicted of any financial crime in the last 10 years. 
  • Has a valid Bank Verification Number (BVN) 
  • Possess Local Government Indigene Certificate

Formal Business Enterprises (Youth Owned Enterprises)

Documents Required for the 75bn Nigeria Youth Investment Fund

  • Evidence of registration with Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A)
  • Business questionnaire
  • List of Directors with BVN nos
  • Evidence of regulatory approvals (where applicable)
  • Tax Identification Number (TIN).

Ineligible Applicants  for NYIF

  • Applicants currently enjoying NMFB loans, including the Targeted Credit Facility (TCF) and Agribusiness/Small and Medium Enterprises Investment Scheme (AgSMEIS) loans that remain unpaid are NOT eligible to apply. 
  • Beneficiaries of other government loan schemes that remain unpaid are also not eligible to participate.

Important Details about the 75bn NYIF Loan

This section highlights the peculiarities of this Nigerian Youth Investment Fund portal:

Target Audience

The scheme is aimed at meeting the needs of at least 500,000 youths. This includes enterprises and individuals

Span of the Scheme

The scheme will run from 2020 to 2023


The loan, once granted, runs for a maximum of 5 years. This is subject to the type of business, and asset involved


For individuals: N250,000 maximum

For Corporates: N3,000,000 maximum


This means a temporary suspension of an repayment on the obligor’s request. The maximum is up to 1 year, also depending on the type of business and asset involved.

Eligible Activities/Businesses

  • Technology/ Innovation
  • Agriculture and related value chain
  • Green Economy and Renewable energy sector
  • Manufacturing
  • Hospitality/Tourism
  • Construction
  • Logistics and supply chain
  • Healthcare value chain
  • Creative sector
  • Trading and Services
  • Others may be determined by NYIF/CBN from time to time. 

Preference will be given to the ‘high-profile’ sectors identified by the Economic and Recovery Growth Plan ERGP and the Nigerian Youth Employment Action Plan.

Short Training

Applicants must attend a mandatory entrepreneurship training arranged or approved by the FMYSD.

Repayment Method

The repayment is made on an installment basis by the obligor to the handling bank NMFB. A repayment schedule will be made available to every beneficiary of this NYIF at the approval stage.

Collateral Required

NMFB, at the point of approval and disbursement, will set up an SI (standing Instruction) on behalf of the beneficiary/obligor to deduct the installment value at the set dates indicated on the repayment schedule. For corporates, guarantees from their principals shall be admissible.


To ensure equitable, unbiased, and levelled participation by all involved, ALL applications will be reviewed and batched according to State and Local Government Areas of the applicants. 

Gender parity is also promised by the handlers. Thus, all female and male applicants are encouraged to put in strong applications.

Responsibilities of the Stakeholders (Applicants, NMFB, CBN, FMYSD, and FMFBNP)


Applicants shall: 

  • Ensure prudent utilization of funds; 
  • Keep up-to-date records of their activities under the Scheme; 
  • Make their books, records, and projects available for inspection by the NMFB when required; 
  • Comply with guidelines of the Scheme; and 
  • Repay their loans as and when due.

NIRSAL Microfinance Bank (NMFB) 

The NMFB shall: 

  • Serve as the Managing Agent of the CBN contributions to the program; 
  • Comply with the guidelines of the program; 
  • Establish an online portal for loan administration of the CBN contribution and as may be decided by the FMYSD; 
  • Collaborate with PMO in the implementation of the program 
  • Keep accurate records of all applicants in a format to be agreed with the PMO; 
  • Prepare periodic reports to the CBN and FMYSD

Federal Ministry of Youth and Sports Development (FMYSD) 

The Federal Ministry of Youth and Sports Development shall: 

  • Serve as a member of the Steering Committee of the NYIF; 
  • Coordinate the overall implementation, including sensitization, mobilization, and monitoring of the program; 
  • Establish the Project Management Office; 
  • Provide periodic progress report to the Federal Executive Council

Federal Ministry of Finance, Budget and National Planning (FMFBNP) 

The FMFBNP shall: 

  • Ensure the release of budgeted funds for the program 
  • Ensure the payment of interest rate differential to the CBN, where applicable. 
  • Participate in the activities of the program as may be required from time to time

Process Flow: Application, Processing, Approval, and Disbursement



This is the function of the applicant, the ordinary young citizen who wishes to be a beneficiary of this 75bn YIF fund. This is to be done on the Nigerian Youth Investment Fund portal: website: https://nyif.nmfb.com.ng/Applicants/New provided by the Federal Government.


Most of this would happen at the backend. It will be a joint function of the NMFB, and FMYSD. It will involve the collating and batching of the applications as they come in.


This is the stage where the applications are essentially appraised by the credit team in the FMFBNP. Approved applications will proceed to the disbursement level.


The approved fund is thus released to the applicant’s designated bank account by the CBN and FMFBNP. Applicants details on the Nigerian Youth Investment Fund portal will also be updated.


1 Comment
  1. Sani usman Adam says

    I supported the Nigeria

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