As the portal for Nigerian youths to access the N75billion Nigeria Youth Investment Fund(NYIF) has been officially opened, people that need funding for their business ideas can start applying.
This fund is an initiative that the Federal Ministry Of Youth And Sports Development arranged with funding from the Central Bank Of Nigeria to invest in business ideas by young people, that will in return grow the economy and increase job opportunities in the country.
These are key things you need to know about the fund and how to apply:
1) Who can access it?
The government has released an information stating that only people between 18-35yrs with business ideas that need funding are able to apply.
2) Why did the government launch this fund?
The fund will invest in creative ideas, skills and talents of Nigerian youths. The government believes this will help turn youths to entrepreneurs, wealth creators, employers of labour and this will contribute to National Development. The project will be on for three years.
3) How to apply?
The special assistant to President Muhammadu Buhari on social media, Lauretta Onochie explained that people should visit the website here to apply.
The government also stated it will release N25billion every year for the three years the program will run.
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