{"id":18052,"date":"2020-08-05T20:22:06","date_gmt":"2020-08-05T19:22:06","guid":{"rendered":"https:\/\/experts.ng\/blog\/?p=18052"},"modified":"2020-10-17T21:04:48","modified_gmt":"2020-10-17T20:04:48","slug":"nigerian-youth-investment-fund","status":"publish","type":"post","link":"https:\/\/www.experts.ng\/blog\/nigerian-youth-investment-fund\/","title":{"rendered":"The Nigerian Youth Investment Fund"},"content":{"rendered":"\n

The percentage of unemployed Nigerian youth rose to almost 14%<\/a> according to the International Labour Organization. There\u2019s no denying that Nigerian youths are hardworking, innovative, skilled, enterprising, and talented, but many obstacles hinder them from optimizing their full potentials. <\/p>\n\n\n\n

Among the significant reasons for the increase in the unemployment rate<\/a> is the lack of funding. Many Nigerian youths have amazing ideas that won\u2019t only create employment opportunities for themselves, but for other youths as well.<\/p>\n\n\n\n

Funding is an essential resource for any enterprise, a crucial aspect of building and sustaining a business for growth and maximum profitability. Luckily, there are several available sources of funds for small business owners in Nigeria.<\/em><\/strong><\/p>\n\n\n\n

Considering the high-interest rates charged by Nigerian banks, business owners \u2013 startups and small businesses, find it hard to raise the required funds to get their businesses off the ground, especially within Nigeria – Sources Of Funding For Small Business Owners in Nigeria<\/a>.<\/p>\n\n\n\n

The federal government of Nigeria in her efforts at meeting the demands of the Nigerian youth for a simplified, SME friendly source of business funds for youths have decided to create the Nigerian Youth Investment Fund.<\/em><\/strong><\/p>\n\n\n\n

Criteria for Applying for the Nigerian Youth Investment Fund <\/strong><\/h2>\n\n\n\n

To apply for the Nigerian Youth Investment Fund<\/a>, applicants must meet the following requirements:<\/strong><\/p>\n\n\n\n

  1. Applicants must not be less 18 years or older than 35 years.<\/li>
  2. National ID card, INEC registration card or international passport<\/li>
  3. Bank Verification Number (BVN)<\/li>
  4. The idea must be economically viable<\/li>
  5. Graduate applicants must have completed NYSC<\/li>
  6. Non-graduates must have a form of identification<\/li>
  7. Provide one guarantor<\/li>
  8. The entrepreneur must have a company that is registered with the CAC<\/a><\/li>
  9. Applicants must have a well-structured business plan that shows the following: