Categories: Jobs/Recruitment

NYIF Disbursement Update 2021 – Why you will Receive Low Payment from NYIF

Reason for Low Disbursement by NYIF – The Ministry of Youth and Sports Development has been following with interest the reaction of some beneficiaries of the Nigeria Youth Investment Fund NYIF, particularly those expressing disappointment at the N300,000 cap on disbursement under the first tranche of N12.5bn

NYIF Disbursement Update

NYIF Disbursement News – Firstly the framework specified 250,000 as the maximum for individual and eligible businesses that are critical can access up to 3m subject to meeting key criteria set in the guideline and conditions.

Considering the numbers of applications received, there was need to ensure spread and enable more beneficiaries enjoy the facility.

Read  – Survival Fund Registration 2021/2022 to be expanded says FG

It’s pertinent to state that the ministry received over 3million applications for the N12.5 bn that is available; and at the current cap of N300,000 per beneficiary, only about 41,000 beneficiaries can be covered.

The Ministry is desirous of reaching as many beneficiaries as possible and possible hence the decision to limit loans to the current amount.

Read – Npower Disengagement of Batch A Beneficiaries Update/Latest News

It may also interest you to know that some of the applicants have also benefited much from existing intervention, which has supported them and are impacting the economy.

It is important we start and increase gradually, considering that there are lots of first time borrowers as well and that the programmes double edge, which includes capacity building, mentoring, monitoring and support will sustain the beneficiaries and guarantee expected outcome.

Read – Federal University of Technology Akure (FUTA) Recruitment 2021

Higher loan thresholds would be possible once additional funds are available.

The Ministry wishes to state again that #NYIF is not a grant, but a loan targeted at supporting the youth to start small businesses or to inject funds into existing small businesses.

Read-

Kaduna State Independent Electoral Commission Adhoc Staff Recruitment 2021 – jobs.kadsiec.kd.gov.ng

FG SPW 774000 Recruitment 2021- NDE Commenced Partial Payments of Stipends/Salary

Corona Virus: Recommendations to Safeguard Yourself from COVID-19

5G Network: Everything you need to Know About 5th Generation Network – Spark Gist

12 of the World Worst Epidemics and Pandemics Disease in History – Spark Gist

Honey and Health Benefits: 9 Benefits/Importance of Consuming Honey that you don’t know

To get more Updates

sparkgist

Sparkgist.com is one of the leading information providers in Nigeria; we deliver latest and essential information that can be of a great help to you our reader.

Recent Posts

3MTT Programme Test Past Questions and Answers Download Pdf here

3MTT Programme Test Past Questions – Download Pdf -  The 3 Million Technical Talent (3MTT) Program Test for the recruitment…

1 month ago

Universal Basic Education Commission Recruitment 2025 – UBEC Recruitment Portal

Universal Basic Education Commission (UBEC) Recruitment 2025 | www.ubec.gov.ng fts application form -If you are interested in recruitment for Teachers…

1 month ago

University College Hospital (UCH) Recruitment 2025 – Apply Now

uchemployment2025 - University College Hospital (UCH) Recruitment Application 2025 | UCH Application Portal 2025 - The University College Hospital (UCH),…

1 month ago

Nigeria Immigration Contactless Passport (CONPAS) | How to Apply

Nigeria Immigration Contactless Passport (CONPAS) | How to Apply. The Nigeria Immigration Service (NIS) has introduced the Contactless Passport Application System…

1 month ago

JTB TIN Registration Portal | Joint Tax Board TIN Portal – Register Now

JTB TIN Registration Portal | How to Register Online JTB TIN Registration Portal | How to Register Online. To obtain…

1 month ago

PFMO Recruitment Portal 2025: PFMO.ng Registration Form Login Portal

PFMO Recruitment 2025 | How to Apply Online. Performance and Financial Management Officer (PFMO) Recruitment 2025-  The Performance and Financial…

1 month ago