5 Nigeria Support Funds That Can Boost Your Business In 2022

5 Nigeria Support Funds That Can Boost Your Business In 2022

In today's latest Npower discussion group blog update, we will be discussing 5 Nigeria Support Fund That Can Boost Your Business In 2022. So read on

A lot has happened in 2021 with the various government support scheme for businesses and individuals. In as much as some have benefited from this scheme, many are yet to benefit so we decided to create this post to inform you that you can possibly step into the year 2022 with any of the available government support funds.

The currently available fund that you can take advantage of are as follows:

1) The 100 for 100 PPP - is a new initiative by the Central Bank of Nigeria (CBN), designed to create the flow of finance and investments to enterprises with the potential to kickstart a sustainable economic growth trajectory, accelerate structural transformation, promote diversification, and improve productivity. It is a support to private sector companies with the aim of reducing certain imports, increasing non-oil exports, and improving the FX-generating capacity of the economy. Apply here Call For Application - CBN 100 For 100 N5bn PPP Loan 

2) TIES which means Tertiary Institutions Entrepreneurship Scheme, is a new CBN loan for Nigerian graduates and undergraduates as an effort to curb the high rate of the unemployment situation in Nigeria. Here is How To Apply For CBN Undergraduate, Graduate TIES Grant

3) NMFB Non-interest loan - The credit facilities under the Non-interest Banking Window of the Targeted Credit Facility (TCF) are to support businesses that have been affected by the COVID-19 pandemic with business equipment instead of cash. Apply Here NIRSAL Microfinance Bank Non-Interest Loan Portal Goes Live

4) The Anchor Borrowers’ Programme (ABP) - The Central Bank of Nigeria (CBN), in line with its developmental functions as enshrined in Section 31 of the CBN Act 2007, established the Anchor Borrowers’ Programme (ABP) to create economic linkages between smallholder farmers (SHFs) and reputable companies (anchors) involved in the production and processing of key agricultural commodities. The core of the Programme is to provide loans (in-kind and cash) to smallholder farmers to boost agricultural production, create jobs, reduce food import bills towards conservation of the foreign reserve. Visit CBN website https://cbn.gov.ng for more information regarding ABP.

5) The National Youth Investment Fund (NYIF) - Nigerian Youth Investment Fund (NYIF) was set up as an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria (CBN) to invest in youth ideas to build sustainable businesses that can activate enterprise and increase job opportunities in Nigeria. Details here NYIF Loan Application Portal Is Live Again - Apply Now