Nigeria Youth Investment Fund: 29 Questions and Answers [How to Apply Full Explanation]

Dayo Adetiloye Business Hub

Nigeria Youth Investment Fund: 29 Questions and Answers [How to Apply Full Explanation]

Here’s an explanation and approach for each of the NYIF 2024 application questions:

Name

Explanation: Provide your full name as it appears on your official documents.
Approach: Ensure the name matches exactly with your National Identification Number and Bank Verification Number records to avoid discrepancies.

National Identification Number (NIN)

Explanation: This is your unique identifier issued by the National Identity Management Commission (NIMC).
Approach: Enter your 11-digit NIN accurately. Double-check the number to ensure there are no mistakes.

Bank Verification Number (BVN)

Explanation: The BVN is an 11-digit number that identifies you within the Nigerian banking system.

Approach: Make sure to provide the correct BVN linked to your active bank account, as 4. Email Address

Explanation: A valid email address for correspondence regarding your application.
Approach: Use an email address that you check regularly. Ensure there are no typos, as all communications will be sent here.

Phone Number

Explanation: Your primary contact number.
Approach: Provide an active phone number where you can be reached. Double-check the digits to ensure accuracy.

Age Range

Explanation: Select the age bracket that applies to you.
Approach: Choose the correct range based on your current age. This helps determine eligibility.

Date of Birth

Explanation: Your date of birth as it appears on official documents.
Approach: Ensure that this matches your NIN and other official records. Format it correctly as required.

Apply for Nigeria Youth Investment Fund here https://www.fmyd.gov.ng/nyif_application

Permanent Home Address

Explanation: Your full residential address where you live permanently.
Approach: Include all necessary details like house number, street name, and town. This helps in location verification.

Town / City / LGA

Explanation: The specific town, city, or Local Government Area (LGA) of your residence.
Approach: Provide accurate details to avoid any mismatch with your home address.

State of Origin

Explanation: The Nigerian state where you or your family originates from.
Approach: Select your state of origin from the provided list.

Highest Qualification

Explanation: Your highest level of educational achievement.
Approach: Choose the most advanced degree or certificate you have obtained.

Provide Information on School Attended

Explanation: Details of the school(s) where you obtained your qualifications.
Approach: Include the name, location, and any relevant details like the course or degree obtained.

State of Business Implementation

Explanation: The state where your business operates or where you intend to implement your business idea.
Approach: Choose the state where your business activities will take place.

Town/City of Business

Explanation: The specific town or city where your business is or will be located.
Approach: Provide accurate details to avoid any confusion during site visits or assessments.

Years of Business Experience

Explanation: The number of years you have been in business.
Approach: Be honest about your experience level, whether you are a startup or have been operating for years.

Business Status

Explanation: Indicates whether your business is a startup, growing, or established.
Approach: Select the status that best represents the current stage of your business.

Type of Business/Program of Interest

Explanation: Choose the specific program or business type you are applying for.
Approach: Select the option that aligns with your business goals:
- WANT TO BE PART OF AN EXISTING CLUSTER
- WANT MY STARTUP IDEA FUNDED
- WANT MY BUSINESS GROWTH FUNDED
- WANT TO PROPOSE A SCALING INITIATIVE FOR EXISTING CLUSTER
- WANT TO PROPOSE A CLUSTER IDEA
- WANT TO PROPOSE A RURAL / COMMUNITY BASED VENTURE FOR A COOPERATIVE

Brief Description of Your Business

Explanation: A summary of what your business does.
Approach: Highlight the key products or services you offer, your target market, and what makes your business unique.

Type of Facility

Explanation: The form of financial assistance you are requesting.
Approach: Choose between Loan, Equity, or Grant based on your business needs.

Amount Applied for

Explanation: The specific amount of funding you are requesting.
Approach: Be realistic about the amount needed to achieve your business goals.

Time/Period Repayment

Explanation: The duration within which you plan to repay the loan (if applicable).
Approach: Provide a reasonable time frame that aligns with your projected cash flow.

Moratorium

Explanation: A period during which repayment of the loan is not required.
Approach: If applicable, specify the moratorium period that would help your business stabilize before starting repayments.

Business Registration Status with the CAC

Explanation: Indicates whether your business is officially registered with the Corporate Affairs Commission.
Approach: If registered, provide the date and registration number. If not, explain your plans to register.

Received Business Development Training

Explanation: Indicates if you have undergone any formal training in business development.
Approach: If yes, mention where and which institution provided the training.

Business Plan

Explanation: A comprehensive document detailing your business strategy.
Approach: Ensure your business plan covers all necessary sections: Executive Summary, General Business Information, Product Description, Access to Market and Marketing Plan, Management Structure, Financial Information, Implementation Schedule.

Have you been part of an Existing Cluster?

Explanation: Indicates whether you are currently involved in a business cluster.
Approach: Answer honestly, as this could affect your eligibility for certain types of funding.

Apply for Nigeria Youth Investment Fund here https://www.fmyd.gov.ng/nyif_application

Other Attachments

Explanation: Additional documents like CAC registration, state-level registration, or community development association certifications.
Approach: Upload all relevant documents to support your application.

Referee 1 & 2

Explanation: Provide details of two individuals who can vouch for your character and business integrity.
Approach: Choose referees who are familiar with your business and can provide a strong recommendation.

Additional Information

Explanation: Any other details that might support your application.
Approach: Use this section to highlight anything unique about your business or situation that wasn’t covered in the previous questions.

This guidance will help you prepare a strong application, increasing your chances of securing funding from the NYIF.

Apply for Nigeria Youth Investment Fund here https://www.fmyd.gov.ng/nyif_application

Top 10 Business Sectors and Ideas that Can Win Nigeria Youth Investment Fund (For New Businesses)

Poultry Business Plan Live sample of Nigeria Youth Investment fund 2024

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We can help you write a winning business plan for Nigeria Youth Investment Fund and deliver it to you within 2-3 days. Call or Whatsapp us on 08060779290 or 08105636015 or send a mail to dayohub@gmail.com

We have Over 10 years experience in working with SMES and MSMEs to win grants, loans and raise Equity Investment.

You can download our company profile here https://dayohub.com/dabh-company-profile-copy.pdf

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Dayo Adetiloye Business Hub is a grassroot business development service provider with a 6 year of track record of excellent service delivery for local and international clients.

As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).

Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.

Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.

We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.

Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community

Mission Statement:
– Provide bespoke management and business planning consultancy
– To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
– To inspire, empower and champion entrepreneurship in the global online community.

Business Goals and Objective

– Engender national prosperity by contributing to the creation of at least 100 new businesses every year
– Become a go-to brand for outstanding business development services for MSMEs
– Strategic partnership with local and international organization to empower start-ups
– Continuous innovation to serve our clients better

Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness

Enter your name and email and Download our FREE eBook, get the weekly newsletter, Update on Grants, Business Opportunities & Premium Services from DayoAdetiloye.com... Joining is FREE!

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Lets connect

Dayo Adetiloye Business Hub is a grassroot business development service provider with a 6 year of track record of excellent service delivery for local and international clients.

Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community

Business Goals and Objective

Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness

Starting out in Life and Business

Grant Winning Workbook

How to Turn Yourself into a Live Breathing Cash Machine

Ecommerce Business

GI Vital Soft Gel

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Dayoadetiloye.com is a property of Dayo Adetiloye Business Hub committed to connecting entrepreneurs with resources.

We are one stop Business Resource Center where we help you discover, Develop and Fulfil your business potentials.

On this platform, we help you develop business plans and strategies, connect you with funding opportunities and share with your business opportunities.

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Nigeria Youth Investment Fund: 29 Questions and Answers [How to Apply Full Explanation]

Approach: Make sure to provide the correct BVN linked to your active bank account, as 4. Email Address

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