Federal Government loan scheme offering ₦250,000–₦3m at 5% per annum to Nigerian entrepreneurs aged 18–35. You also get training and mentorship, but you need a business plan and either CAC registration or proof you will register.
The National Youth Investment Fund is a Federal Government of Nigeria initiative managed by the Federal Ministry of Youth and Sports Development to provide financial support to Nigerian youth entrepreneurs. It offers loans at concessionary rates (5% per annum) to young business owners to start or expand their enterprises across all sectors. Beneficiaries also receive entrepreneurship training and mentorship support.
Who can apply
Nigerian citizen aged 18–35
Hold a valid National Identification Number (NIN)
Hold a valid Bank Verification Number (BVN)
Have a registered business with the Corporate Affairs Commission (CAC) or committed intent to register before disbursement
Have a written business plan
Not currently receiving funds from another federal government loan scheme
Able to provide a guarantor or join a group lending arrangement (especially if you are under 21)
Not eligible
Anyone outside the 18–35 age bracket
Applicants without a valid NIN or BVN
Those already benefiting from another government loan scheme
Individuals without a business plan or evidence of business registration intent
Visit the NYIF Secretariat office or the Federal Ministry of Youth and Sports Development website to obtain the application form and guidelines
Complete the application form in full, including your personal details, business information, and loan amount requested
Attach all required documents, with particular attention to your business plan and CAC registration proof
Submit your application either in person at the Secretariat office or via the official channel (typically email or online portal—confirm current method with the office)
Keep a copy of your submission receipt and reference number for tracking
Await notification of application status; the Secretariat will contact you for any clarifications or next steps
Save and track it and we will email you 14 days, 7 days, 3 days, 24 hours and on the morning of the deadline.
How applications are selected
Applications are assessed against eligibility criteria, business viability, and the quality of your business plan. The Secretariat typically reviews submitted documents, may conduct interviews, and assesses your ability to repay based on your projected cash flow. You will be notified of approval or rejection in writing. Approved applicants then undergo mandatory entrepreneurship training before loan disbursement.
What reviewers look for
Your business plan must include realistic financial projections—revenue, costs, and break-even point for at least 12 months. Vague or overly optimistic figures will weaken your application.
Show evidence that you have already started informal trading or market research, or that you have direct experience in your chosen sector. This demonstrates commitment.
If you are applying as a group or with a guarantor, ensure all parties sign the consent and guarantee forms; incomplete documentation causes delays.
Explain clearly how you will use the loan money—specific equipment, stock, staffing, or premises. Do not request a round sum without justifying each component.
Demonstrate that you understand your market and have identified actual or potential customers. General statements about market size are less persuasive than specific customer conversations or pre-orders.
Frequently asked questions
What is the interest rate and repayment term?
The loan carries interest at 5% per annum, which is concessionary (below commercial rates). Repayment term is typically 3–5 years, but confirm exact terms with the Secretariat when you apply.
Do I need to have my business registered with CAC before applying?
No. If you are still in the planning stage, you can show proof that you have applied for CAC registration or submitted your registration forms. You must complete registration before the loan is disbursed.
What if I am under 21—do I need a guarantor?
Yes, typically applicants under 21 must provide a personal guarantor or join a group lending scheme. Your guarantor must sign consent forms and may be required if you default.
Can I apply if I am receiving support from another organisation or NGO?
You can receive training or mentorship from other sources, but you cannot be a beneficiary of another active federal government loan scheme at the time of application.
How long does the application process take?
The Secretariat does not publish a set timeline. You should expect several weeks from submission to approval decision, particularly if they request clarifications on your business plan or documents.
Guide written from the official programme page on 17 October 2026. Funders change their rules, so confirm the details on the official page before you apply.
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