6 Federal Government Business Funding Programmes To Apply For In 2021

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The spirit of entrepreneurship among Nigerians is gradually growing to another level, as Federal government of lately have been rolling out fresh business funding platforms to aid young Nigerians move their businesses to the next level just by sharing valid business ideas.

In the past, especially 2020, federal government launched quite a lot of business funding platforms to aid SME’s in different sectors of the economy easily access funds or loans. For this singular reason, it would not be a bad to say the federal government of Nigeria is actually doing a whole lot to encourage small business enterprise.

Well, there are a lot of Nigerians who are not even aware of some of these business funding platforms. While others are making judicious use of the opportunities, others are still in doubt and believing it too good to be .

This article is actually for those who have keen interest, but ain’t getting reliable updates regarding opportunities like this.

Below are some of the business funding scheme by the federal government:

FG Business Funding Schemes

Nigeria Youth Funds (NYIF)

The Nigeria Youth Fund is an Initiative of the Federal of Youth and Sports Development funded by the Central Bank of Nigeria.

The Federal Executive Council on July 22, 2020 thus approved the Nigeria Youth Fund to the tune of N75bn spread over three years to cater to youth owned businesses and need. The Youth Investment fund is targeted towards funding the young populace.

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Apply For NYIF Funds

Survival Funds

The Survival fund provides support over half a medium and small enterprises MSMEs in meeting payroll objectives.

Beneficiaries of the fun include self-employed, artisans, transport workers and technicians who are eligible to access up to N50,000 from the fund. The survival fund is a product of the federal government, and is targeted at improving the lives of Nigerians.

Apply For Survival Fund

PAADS Loan

P-AADS whose acronym is “Private Sector-Led Accelerated Agriculture Development Scheme” is another Federal government of Nigeria farmers loan amongst other agricultural loan, targeted at aiding farmers or up farmers to increase food production and provide food security in Nigeria.

The specific objectives are to:

  • Fast land for primary production of agricultural commodities;
  • Promote food security through the provision of large contiguous land for
    agricultural production across all states;
  • Collaborate with agro-processors engaged in backward integration by providing financing for extended land in proximal locations for cultivating commodities for supply of industrial raw materials;
  • Support other capable stakeholders interested in unlocking land for agriculture through appropriate financing; and
  • Engender job creation for individual farmers that will cultivate on the cleared land.

Apply For PAADS Loan

NPower NEXIT

NEXIT is a Portal that will enable Exited N-Power Beneficiaries to apply for Central Bank of Nigeria Empowerment Options.The platform has been launched by the Ministry of Humanitarian Affairs, Disaster and Social Development.

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The platform which was developed in collaboration with the CBN will enable Exited N-Power Beneficiaries to log on and apply for the various economic, empowerment and entrepreneurship options provided by the CBN.

Apply For NPOWER NEXIT

Guaranteed Offtake Scheme

The Guaranteed Offtake Stimulus Scheme is aimed at protecting and sustaining the incomes of vulnerable Micro and Small Enterprises by guaranteeing the offtake of their products. A total of 100,000 Micro and Small Enterprises are to benefit from the scheme. The total target national number of beneficiaries is 100,000 ( 3,880, Kano 3,280, Abia 3,080 while other States will each have 2,640 beneficiaries).

Apply For Guaranteed Offtake Stimulus Scheme

National Young Farmers Scheme

The National Agricultural and Land Development (NALDA) is responsible for these project and the aim is educate, inform and encourage the youth to enable them participate actively in the agricultural sector of the nation. According to news sources, 1000 farmers will be trained from across the 774 Local Governments nationwide aimed at improving the agriculture of the nation.

NALDA will recruit 1000 farmers from each of 774 across the country.

Apply For Young Farmers Scheme here

How do I get Updates of latest business funding?

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  1. Pingback: Federal Road Safety Corps (FRSC) Recruitment 2021 (recruitment.frsc.gov.ng) | Omadaily.com

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