Nigerian Youth Investment Fund NYIF is a government initiative created to boost the Nigerian economy through leverage and access to finance for youths. The fund hopes to serve as a catalyst to unleash the potential of the youth and enable many of them build businesses that will increase the employment rate.
The Nigerian Youth Employment Action Plan was developed by the Federal Ministry of Youth and Sports Development (FMYSD) as a built-in strategy to respond effectively to the youth employment challenge in Nigeria. The major objectives of the plan are to address fragmentation of youth initiatives that prevent assessment of impact, and to provide Nigeria youth with investment inputs required to build successful businesses that can become sustainable employers of labor and contributors to Nigeria’s development.
Requirements
The Federal Executive Council on the 22nd of July, 2020 approved the sum of N75,000,000,000
business management skills and other inputs critical for sustainable enterprise development.
Eligibility
(i) Be a youth within the age bracket of 18-35 years.
(ii) Have business/
(iii) Has not been convicted of any financial crime in the last 10 years.
(v) Has a valid Bank Verification Number (BVN)
(vi) Possess Local Government Indigene Certificate.
Target
The NYIF aims to financially empower Nigeria youth to generate at least 500,000 jobs between 2020 and 2023.
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