The Nigeria Youth Investment Fund (NYIF) is a government loan aimed at empowering the Nigerian Youth to finance their business ideas and entrepreneurial ventures. The initiative has announced that application is still opened in 2025 and interested youth can submit applications.
The NYIF is an initiative incepted by the Federal Ministry of Youth Development (FMYD) and backed by the Federal Government. Disbursement and management of the initiative is handled by the Central Bank of Nigeria (CBN) the NIRSAL Microfinance Bank (NMFB).
The NYIF is among the government’s plans to reduce youth unemployment and encourage the growth of youth-owned businesses across the country. The fund started with a seed capital of N110 billion—helping youth ranging from age 18 to 40 establishing their enterprises.
The initiative believes that the more sustainability of businesses in Nigeria, the more economics growth will be driven and job creation opportunities will be surplus. The initiative is focusing on many business sectors including green energy, agriculture, manufacturing, creative industries and ICT.
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NYIF Loan Requirements
To apply for NYIF Loan, meet sure you can provide the following documents and meet all necessary requirements has described here:
- Be a good citizen of Nigeria.
- You must not be below 18 years and above 40 years. Otherwise, your loan will not be approved.
- Have a running business or business idea with a good and well-written business plan.
- Documents: National Identification Number (NIN) and Bank Verification Number (BVN) will be required.
- Running business will need to submit business registration certificate. Even if it’s just registration of business name.
To apply and get approval to the NYIF Loan, businesses or entrepreneurs must meet the above criteria. More so, the business must be between the needed sectors which are technology, green energy, manufacturing, agriculture, creative industries, Computer and ICT, Fisheries, Livestock Farming, Fashion, Film making and content creating and many more.
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How to Apply for NYIF Loan
The NYIF Loan Application Form is available at nyif.nmfb.com.ng and fmyd.gov.ng/nyif. You can visit any of the government websites to download and fill the loan application form with your correct details.
All registrations are filed and submitted online, on the NYIF application portals. All you need to do is visit any of the NYIF’s portals, open the application form and fill in your personal information.
Your BVN, NIN, Business Certificate or Business Plan will also be needed to complete the loan application form on the portal. A verification process will be initiated to validate your bank verification number (BVN). After the valuation, your NYIF profile will be created.
You can now login to your NYIF profile to apply for the loan. Here’s how:
- Login to NYIF profile through fmyd.gov.ng/nyif or nyif.nmfb.com.ng. You will need to access the loan portal using your username and unique password.
- Navigate to “Loan” and check on the eligible credit that’s available to your business.
- If you’re cool with it, click on the credit limit and submit it for disbursement.
- The team behind NYIF will review your entire application and get back to you via the email address you submitted when you created your profile.
How to check NYIF approval status
First of all, do understand that there will be a large number of the loan submissions per day. Due to this, the review process may take 7 to 14 business days. However, while waiting, you can check the approval status through the following methods:
- Visit the NYIF official website: The NYIF official website is https://www.fmyd.gov.ng. On the website, click on “Login” and enter your profile details to access your Loan Account. Once you’re in, click on “Status” and you will see the status of your loan application.
- Regularly Check your Email: Another way to check your approval status is by checking your email app regularly for updates from the NYIF. For deep checking, make sure you’re also checking the spam and junk folders for any spam emails.
If your loan is approved, the funds will be disbursed to your submitted account number. However, NYIF will use your business plan to monitor how the funds are channeled to the business you proposed. Mismanagement will definitely leads to penalties and legal actions.
NYIF Loan Repayments
The repayment is simple. Time given to repay the NYIF loan typically ranges from 1 to 5 years, depending on loan amount, nature of business and tenure selected by the applicant.
In addition to simplicity, the NYIF loan has a highly subsidized interest rate of 5% per annum.
Furthermore, before you start repaying the loan, you will be granted a moratorium (grace period) of up to 12 months before repayment begins regardless of the loan, amount, tenure, terms or business model.
However, note that the repayment will be structured monthly or quarterly, depending on the agreement you made when you were filing the loan application.
To make repayment for the loan, login to your NYIF portal, go-to “Repay Loan”, select “Amount” you wish to payback, copy the designated account number and transfer the money to the account. The amount repaid will be minus from the outstanding loan balance.
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FAQs
Who is Eligible for NYIF?
As of 2025, all Nigerians above 18 and below 40 years are eligible for the NYIF Loan. In addition to that, you must have a running business or business plan.
Meanwhile, if you’re currently running a business, you need to also draft a business plan that explains how you’re going to channel the funds to every area of your business without a room for mismanagement.
Is the NYIF portal open?
Yes, Federal Ministry of Youth Development (FMYD) has announced that the NYIF loan is still available. Interested business or individual can access the portal and submit an application.
How to access NYIF Dashboard
To access the loan dashboard, visit the official website at fmyd.com.ng and login using your username and password to access the NYIF account dashboard.
