nigeria youth investment fund (nyif)
NYIF (National Youth Investment Fund) Loan Business Plan Upload 2020/2021 – The Federal Government of Nigeria through its agencies has updated the general public on NYIF (National Youth Investment Fund) Loan Application on the next step or stage. NYIF officials through this article inform the public on the documents they will upload and the link to upload it.
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Latest Update For National Youth Investment fund (NYIF) Applicants – In the just concluded Zoom Town hall meeting with the Permanent secretary of the Ministry of youth and sport and the MD of NIRSAL MICROFINANCE BANK regarding the NATIONAL YOUTH INVESTMENT FUND (NYIF) , the followings are highlights of the meeting:
According to the officials incharge of NYIF Loan Applications and Registrations Online, the latest update is that applicants are required to upload their Business plans online as it will be part of the requirements for shortlisting successful candidates.
Uploading of Documents to NYIF Loan Portal will start from Monday, November 30, 2020. You are expected to upload your Business Plan on NYIF Loan Portal.
The ministry has changed the process of application to the following 3 basic steps:
1.) Registration and uploading of business plan.
2.) Training
3.) Disbursement
Note: Your qualification for the fund will be determined by your business plan, so is the amount to be approved for your business.
To write an effective Business Plan, Click Here
Unlike how it is before, now, It is after your business plan upload you’ll be invited for training if your business plan is worthy of funding.
According to the Minister of Youths and Sports, about 90% of applicants would be selected for training and after which they will become beneficiaries.
In line with that, if selected, you will need one guarantor to enable you benefit or become a beneficiary.
NYIF Business Plan: How to Upload your Business Plan to National Youth Investment Fund Portal
For you to be paid, there is need to upload your business plan, then participate in the training exercise before you will be enrolled for disbursement
To apply successfully, Click www.nyif.nmfb.com.ng
Also, you can also register as a group or cooperative, but only one person representing others must fulfill all the eligibility conditions.
Maximum accessible amount is 3m (3 million Naira)
The lowest amount is 250k (N250,000).
Note: The interest Rate is 5%. Moratorium is 12 months while Loan tenure is 36 months.
To upload your Business Plan to NYIF Portal, kindly Click www.nyif.nmfb.com.ng/app
Do this as soon as the portal is opened for upload.
This most at times pops up whenever you want to upload your Business Plan Document. It does not mean, it is not working, it is an error from the NYIF office end. Anyway, the Minister of Youth and Sports Development has promised to rectify that issue to enable everyone upload their business documents online.
The only thing you are expected to do is to get your Business Plan Ready and exercise patience as soon the portal will be opened for uploading of Business Plan Online.
It simply means that the portal has not been synchronized or arranged to fit in with the recent update of NYIF Loan which is to register and upload Business Document before Training Exercise.
Once, you upload your NYIF Business Plan Successfully, you will be given date for NYIF Online Training (E-Training)
A bill is already being prepared to be sent to the National assembly to pass the NYIF into law so as to ensure its continuity with successive governments.
Accessing the fund, from application to disbursement is 3 to 6weeks.
You’ll need to be a formally registered business to access above 500k. Otherwise you’ll only access between 250, 000 to 500,000 Naira. Survival fund beneficiaries and eligible Covid-19 TCF household beneficiaries will be made eligible.
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View Comments
Does that mean we are going to re-apply again, due to change in the application method?
No... they will create room through which you will add the document
Pls how do I upload my business plan??...it keeps showing me "you have not been trained" has anyone been trained??
Click Here to see the new link to upload your business plan
Why does it keep showing "you have not been trained"
They are rectifying it dear
Thank you for your support but I followed the link several times but it keep saying you have not been trained
Please exercise patience as soon it will rectified
What about those that are not training
You shall be updated
I attended every session of the online training ,and after the training the promise to issue E- Certificate from Monday but up to now no sign. And I have never seen any attendance form through out the training but they keep on saying we should fill it.
The certification form is for the attendance
I attended every session of online training and I never come across anything like attendance form and they keep on asking us to sign.
Did you fill anything for certification
Throughout the training nothing like form talkless of filling it,all I know the facilitator will said tell us your name,what you do and where you are chatting from in the comments box. Nothing again.
That one is okay
Please how do I go about this business plan
If I click it show, you have not been train
They don't need it again for now
That means over for me?
No
How can I training And upload business plans
The link portal will be released soon
Please all I get is you have not been trained so I need urgent uodates
You will be you're when the training starts
Please if apply for loan they told am not training so how can I train i need urgent reply
They will notify if your training day