According to Newsone, the Central Bank of Nigeria (CBN) has created awards for recent graduates and students in an effort to lower unemployment. For registration for CBN N500k grants, go to cbnties.com.ng. In collaboration with Nigerian Polytechnics and Universities, the Tertiary Institutions Entrepreneurship Scheme (TIES) taps into the entrepreneurial potential of Nigerian graduates. According to Pex Bank, TIES seeks to expand financial access for Nigerian polytechnic and university graduates as well as those with creative business and technological concepts. The Supreme Bank claimed that by concentrating on job development, the TIES will address the problem of white-collar job seekers. According…
Author: Akeem Oyerinde
Have you submitted an application for the ongoing FG 1.5 million SMEDAN grants and low-interest loans? As you read, we’ll demonstrate how you can obtain one of the 1.5 million SMEDAN Grants that the federal government is offering for 2022/2023. Are you prepared for my practical advice? Let’s get going: The Jaiz Bank Plc and Small and Medium Companies Development Agency of Nigeria (SMEDAN) funding project, which aims to increase the capacity of micro and small enterprises (MSEs) throughout the nation, has begun. ONGOING LOAN APPLICATION SMEDAN N1.5m Loan APPLY NOW Nigerian Youth Investment Fund (NYIF) Begins APPLY NOW N40,000…
The NIRSAL Microfinance Bank’s webpage has opened up for applicants who match its requirements after the CBN decided to offer a loan opportunity to companies, businesses, and people affected by the ongoing Covid-19 pandemic. Micro, Small, and Medium-Sized Enterprises (MSMEs) may qualify for this loan if they can show that the pandemic has significantly harmed their operations and that their employees’ jobs are protected. Businesses like airline service providers, healthcare, pharmaceuticals, and medical supply distributors, as well as other income-generating enterprises approved by CBN, may also submit applications. Shari’ah complaints may also be submitted. A maximum loan of N2,500,000 is…
The Federal Government of Nigeria has agreed to pay graduates who complete the National Youth Service Corps (NYSC) program a monthly stipend of N75,000 as part of the Youth Innovative Entrepreneurship Development Programme (YIEDP), with an aim of encouraging entrepreneurship and decreasing youth unemployment in Nigeria. This initiative is supported by over 700 businesses nationwide. The YIEDP is a collaborative initiative of the Federal Government and the Bank of Industry (BOI). Through this program, graduates have access to funding for their business ideas as well as training and mentorship to help them become successful entrepreneurs. This program is open to…
The Federal Government of Nigeria has launched the Special Public Works (SPW) program, offering a monthly stipend of N40,000 to 774,000 beneficiaries across Nigeria. This initiative is intended to create jobs and reduce poverty levels in Nigeria. The program will employ 1,000 beneficiaries in each of Nigeria’s 774 local government areas, for a total of 774,000 beneficiaries. They will work for three months on various public works projects such as clearing drainages, planting trees, and repairing roads. The program is a welcome development in a country with high unemployment and poverty rates. The COVID-19 pandemic has only compounded these issues,…
Up to #5Million Business Loan for SME If you’re looking to expand your business or fund an investment, a $5 million small business loan is the perfect solution. Although this type of financing is a bit more expensive than smaller loans, it comes with a few benefits, including lower interest rates and longer repayment terms. The best way to find a small business loan of this size is to shop around and compare offers from different lenders. You can do this through online lenders, credit unions, or traditional banks. Some lenders have stricter qualifications than others, so it’s important…
The President Buhari-led Federal Government is adamant on the fact that youths in Nigeria are resources to be harnessed and not a problem, hence their initiation of a new initiative tagged “Nigeria Youth Investment Fund” (NYIF). NYIF will empower young entrepreneurs with easy access to soft loans between N250,000 to N3 million. The loan will be granted through a number of channels such as Micro Credit Organisations, Bank of Industry, BoI, Fintech Organisations and Venture Capital Organisations registered with the Central Bank of Nigeria. According to the Minister of Youth and Sports Development, Mr Sunday Dare, the aim of…
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has introduced a loan scheme worth N1.5 million to assist small businesses in Nigeria. This initiative is part of SMEDAN’s effort to provide financial assistance to SMEs throughout the country. This loan scheme is tailored to microenterprises, businesses with fewer than ten employees and an annual turnover of less than N5 million. These loans aim to give these firms the financial resources they need to expand operations, purchase equipment, and invest in their businesses. The loan scheme presents microenterprises with a great opportunity to access much-needed funding. Accessing loans from…
The COVID-19 pandemic has been a devastating global health emergency that has caused major disruptions to societies and economies around the world. Nigeria, in particular, has taken measures to mitigate its effect on its economy by awarding a grant of N253.4 million to combat the crisis. The CBN has been actively engaged in efforts to combat the COVID-19 pandemic in Nigeria. They have implemented a variety of measures designed to aid healthcare facilities, small and medium-sized enterprises (SMEs), and households affected by this crisis, including loan moratoriums, credit facilities for healthcare facilities, and providing funds for essential medical supply production.…
The new coronavirus outbreak has a significant influence on household and corporate operations, causing, among other things, a reduction in consumer confidence, a halt in production, and a dip in global demand for goods and services. The Federal Ministry of Finance, Budget, and National Planning, along with the Central Bank of Nigeria (CBN), has announced certain monetary and fiscal measures to help lessen the effects of the coronavirus pandemic on the economy, Nigerian businesses, and households. The CBN has independently announced some stimulus packages that will have an effect on a variety of industries, including the health sector, Micro Small,…