Registration and funding approval is ongoing for the Nigerian Youth Investment Fund with 110 Billion Naira set aside to empower youths businesses. The funding includes GRANT, EQUITY and LOANS of between N3,000,000 – N100,000,000.
Repayment period — up to 3 years with moratorium up to 12 months (grace period before you start repayment).
You can also apply, even if your business is not yet registered with CAC. If they like your idea and approve your fund, you’ll be required to register your business before the funds can be disbursed.
Requirements for Nigerian Youth Investment Fund with 110 Billion Naira
To be eligible, the applicant must:
- be a Nigerian citizen aged 18 and 40
- NIN
- BVN
- Business plan (5-page maximum)
Of all these requirements, the most critical is the BUSINESS PLAN. To make things more interesting, it mustn’t exceed 5 pages and it has to contain all the important details.
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