Youth Investment Fund Initiative (YIFI)

The Youth Investment Fund Initiative (YIFI) is a strategic program by the Federal Ministry of Youth Development (FMYD) aimed at empowering Nigerian youths by providing access to affordable credit. This initiative is designed to harness the potential of young Nigerians by supporting entrepreneurial ventures that contribute to national economic growth. YIFI offers financial assistance to young Nigerians who demonstrate innovation, entrepreneurial spirit, and commitment to driving economic development.

Through YIFI, successful applicants can secure funding to start or scale their businesses, thereby creating employment opportunities, boosting productivity, and promoting sustainable development in line with Nigeria’s economic goals.

Requirements to Qualify for the Youth Investment Fund

To be eligible for the Youth Investment Fund (YIFI), applicants must meet the following criteria:

1. Age Requirement: Applicants must be Nigerian citizens between the ages of 18 and 40 years at the time of the application.
2. National Identification: All applicants must possess a valid National Identification Number (NIN) as part of their application.
3. Comprehensive Business Plan: Applicants must present a viable business plan that clearly outlines their business objectives, strategies, and projected impact. This plan should demonstrate the applicant’s ability to manage the business effectively and achieve sustainable growth.
4. Proof of Cash Flow: Applicants need to provide evidence of sufficient cash flow within their business to guarantee their ability to repay the loan. This includes recent financial statements or bank records showing the business's financial health.
5. Business Alignment with National Development Goals: The applicant's business idea must align with Nigeria’s national economic development goals. This includes sectors such as agriculture, technology, manufacturing, education, and others that contribute to the country's broader economic and social objectives.

Application Process

Interested individuals must submit an application through the FMYD’s designated portal, including all required documents. These include the applicant's NIN, a viable business plan, proof of cash flow, and other supporting materials that demonstrate the alignment of their business with national development goals.

Successful applicants will receive funds to support their business ventures, enabling them to contribute to Nigeria's economic transformation.