NYIF Update: Training is a must in accessing the NYIF Loan (NYIF Training)

Just recently, there has been a social media claim that all Applicants of the Nigeria Youth Investment Fund should expect disbursement of the NYIF Loan without Training.

Similarly, there have been many questions asked by Nigerians about the Nigeria Youth Investment Fund which includes, "Is NYIF ongoing."

Yes, the Nigeria Youth Investment Fund is on going. It has not ended and it is not ending soon.

The Nigeria Youth Investment Fund is a 3 years programme which has only recieved N3 Billion released by the Central Bank of Nigeria out of the N12.5billion approved for the first tranche of the NYIF Loan Scheme, according to a recent report from Federal Ministry of Youth and Sports Development.

The Ministry's report further disclosed that, "so far, 54.6% of the N3 billion amounting to N1,629,220,000 has been disbursed to a total of 5,200 youths in the Loan Scheme.

In the next two years, it is expected that the N75 Billion earmarked for the programme would have been disbursed to more than 249,000 Nigerian Youths on a maximum loan cap of N300,000 per beneficiary.

The Loan Cap of N300,000 maximum loan per beneficiary is to enable as many youths as possible benefit from the loan Scheme. That is to say, no applicant will be given more than N300,000 in the NYIF.

NYIF Training

The Federal Ministry of Youth and Sports Development in a report has clarified that the "Training" of the applicants of the Nigeria Youth Investment Fund is not an option but an essential and compulsory process in accessing the NYIF Loan, which every applicant must undergo regardless of region or calibre.

Currently, a training is being prepared for the recently prequalified 25,000 applicants. The training will be in batches and will commence soon.

How do I check Training Shortlist

The Federal Ministry of Youth and Sports Development (FMYSD) does not publish or release lists of selected Candidates in any batch of the training. However, applicants selected for the Training are usually invited through the "e-mail addresses" and "Phone Numbers" they provided during Registration.

NYIF Training Portal

The NYIF Training Portal is https://fmysdenterprisetraining.ng. Only selected applicants, for each batch of the Training, are sent log in details for accessing the NYIF Entrepreneurship Development Training Portal.

The selected applicants are usually advised to learn how to log in to the NYIF portal through the channel https://youtu.be/5zY-QXGLWao. The Applicants also learn how to use the NYIF Training Portal through the Channel.

Before the Training, pre-qualified applicants are mandated to complete their profiles at https://nyif.nmfb.com.ng/app. Here, the loan application is made and Financial Information provided. Only Applicants whose Loan application is considered viable at this stage, are recommended for the NYIF Training.

How do I get Trained

To get Trained, a selected applicant will be sent log in details for accessing the Training portal. The Training is scheduled in batches and applicants are expected to log in at the appropriate time.

When logged into the Training, the applicants are taken through several entrepreneurial topics that would enable each of them manage a successful business.

An assessment is made after the Training and only applicants who excel in the final assessment, get their loan approved. Once approved, disbursement is assured.

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