Excited to be attending the BDSP event in Abuja
Someone sent me the link to OPEC Fund and I decided to dig deep into it.
D-Prize receives applications from interested applicants twice a year. This is the second batch for this year.
The businesses, ideas and startups (B.I.S) grant programme for 2021 is live and applications are being received.
Applicants across Africa who scaled through to the Pitching stage of the TEF Entrepreneurship Programme Application process had until yesterday 7th September to submit their pitch videos.
It has been a rigorous process that started since January. In fact, some people started the journey since January. 2020 and because of the COVID-19 pandemic last year, the programme was suspended.
You are to enter your names and your BVN. Automatically on the next page your date of birth would be displayed taken from your BVN. You then enter the other details required on the page.
Next you select Geo-political zone, State of origin, LGA and educational level.
Select your training centre, tell how you heard about NYIF and then tick to declare that the information you provided is true and correct and also declare that you have never been convicted of any financial crime in the last 10 years.
When submitted successfully, you’re going to see a congratulatory message that “your request has been submitted successfully”.
You now wait until you hear from them.
The United States Consulate General in Lagos on Tuesday announced a call for applications for the 2020 Academy for Women Entrepreneurs (AWE), a U.S. Government initiative that supports women entrepreneurs around the world.
The Consulate-General said in a statement that AWE, which first edition was held in Lagos in September last year, “is a component of the White House Women’s Global Development and Prosperity Initiative, designed to empower women worldwide to fulfill their economic potential, thereby creating conditions for increased stability, security, and prosperity for all”
According to a statement, in the second annual AWE, 120 female entrepreneurs from across Southern Nigeria would be selected to receive virtual and in-person training and mentoring.
“To support the comprehensive rehabilitation and reintegration of returned migrants, we will select 20 female returnees to take part in the program.
During the intensive program scheduled to run from November 2020 to March 2021, successful applicants will receive lessons on business management, network with like-minded entrepreneurs and mentors, and learn the practical skills required to create and run successful and sustainable businesses.
United States Consulate Acting Public Affairs Officer, Jennifer Foltz, explained that the goal of the Academy for Women Entrepreneurs was to teach women around the world to become successful entrepreneurs.
According to her, amid the COVID-19 pandemic and its impact on the global economy, the US Consulate General aims to work with the AWE participants to develop their businesses.
One of the U.S. government’s goals is to promote entrepreneurship worldwide. Through the Academy for Women Entrepreneurs, we are doing just that by giving ambitious businesswomen the skills they need to take their ventures to the next level. For this year’s program, we encourage motivated and self-driven female entrepreneurs to apply ,” Foltz said.
Leading local business leaders will help facilitate the workshops. Also, participants will receive access to DreamBuilder, a blended business-training course developed through a partnership between Arizona State University’s Thunderbird School of Global Management and global copper mining company Freeport-McMoRan.
The U.S. Consulate General has partnered with Ascend Studios Foundation to administer this program. Chief Executive Officer of Ascend Studios Foundation, Ms. Inya Lawal, said “We are excited that the U.S. Consulate General in Lagos has partnered with us for the second time to implement this important program tailored for women’s economic empowerment.
With the challenges and opportunities the COVID-19 pandemic has presented, alot more women are looking for new ways to pivot their businesses, and AWE is on the lookout for such women.
Female entrepreneurs interested in participating in the AWE program can apply at no cost by filling out the application form. Application closes on November 8, 2020.
The AWE is a component of the White House Women’s Global Development and Prosperity Initiative, designed to empower women worldwide to fulfill their economic potential, thereby creating conditions for increased stability, security, and prosperity for all.
The first edition of the program was held in Lagos in September 2019.
The registration for the MSME payroll support has ended and the registration for business names has commenced.
As part of the Federal Government’s post Covid -19 pandemic survival intervention to support micro and small businesses to formalise their businesses, the Federal Government has approved the free registration of 6,606 Business Names in each of the 36 States while Abia, Lagos and Kano will have 7,906, 9,084 and 8,406 respectively.
Consequently, all interested Micro and Small Entrepreneurs, Artisans, Craftsmen/Women (one or more persons) that are yet to formalise their businesses should take advantage of this rare opportunity.
In view of this, Aggregators have been appointed to receive applications from interested persons in line with CAC requirements.
The names and contact details of the aggregators can be obtained on the Commission’s Website as follows:
The free registrations will start on the 19th October, 2020
Don’t be left out! Hurry now to any of the centres with the following documents to register your business:
- Three Proposed Names
- Two (2) Passport sized photographs
- Valid Means of Identification
- Phone Number/Email address
………..CAC, committed to prompt and efficient service.
The Federal Ministry of Youth and Sports development has commenced the
process on how to open application portal for Nigerian youths to apply
for the Nigerian Youth Investment Fund, (NYIF) approved by the Federal
Executive Council on Wednesday, July 22, 2020, for establishment.
ABOUT NIGERIAN YOUTH INVESTMENT FUND
The NYIF is a sort of bank designed to help Nigerian youths to gain
access to fund innovative ideas, skills, and talents and also to
provide a special window for accessing funds, finances, business
management skills and other inputs critical for sustainable
Youths can also access credit and soft loans. This
platform is managed by the Ministry of Youth and Sports Development
which along with other MDAs directs the distribution of funds where
necessary. This is the very first of it’s kind by any Nigerian
Nigerian Youth Investment Fund (NYIF)is a government initiative
created to boost the Nigerian economy through leverage and access to
finance for youths.
The fund hopes to serve as a catalyst to unleash the potential of the
youth and enable many of them build businesses that will increase the
The NYIF aims to reach 500,000 youth annually between 2020 and 2023.
Each fund approval will range from N250,000 to N50,000,000, with a
spread across group applications, individual applications, working
capital loans set at 1 year and term loans set at 3 years with single
digit interest rate of 5%.
Disbursement will be through various channels, which will include
micro finance, finance firms and deposit money banks regulated by the
Central Bank of Nigeria and supported by Bank of Industry.
Here are a few points to note about NYIF before we move to the
requirements to apply as a beneficiary.
• The Nigerian Youth Investment Fund was approved on the 22nd of July 2020.
• The NYIF will get 25 billion to run per year for 3 years making it
75 billion. They are to start with 12.5 billion for the remaining part
• The fund is aimed at reaching 500,000 youths annually between 2020
and 2023 and each is expected to get at least 250,000 to 50,000,000
• The fund can be accessed on a group application level and individual
• The interest rate for loans offered on the NYIF is 5%.
• The moratorium period of the loan will be 1 year for individuals and
3 years for group or team loans.
• Disbursement is through microfinance organizations, fintech
organizations, and venture capital organizations registered with CBN.
• The Ministry of Finance, Budget and National Planning (MFBNP) and
the Central Bank of Nigeria (CBN) provides the finance to start the
• To benefit from the fund, you must have a fundable business idea,
registered business, be a citizen of Nigeria, present recognized means
of identification, and guarantors.
• Official Government Identification
• Applicant must be between the ages of 18 and 35 years old
• Notarized Guarantor Forms
• Passport photographs
• Bank Verification Number
• Training Certificate
• Fundable business idea
• Registered business
• Nigeria Citizenship
• NYSC certificate for graduates
States where you can access Nigerian Youth Investment Fund Loan
• Akwa Ibom
• Cross River
• FCT Abuja
METHOD OF APPLICATION:
The method of application will soon be unveiled. So stay tuned.
We will share the link here as soon as the portal for the application is opened.
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has commenced the process of registering Micro, Small, and Medium Enterprise that operates in Nigeria. The SMEDAN Registration exercise according to the agency is to enable it to use the database in the nearest future in providing funding, training, empowerment, and other facilities to MSMEs and also uses it as a reference to link businesses to lending institution in the private and public sectors.
SMEDAN gives you access to government and private sector benefits to help you grow your small or medium scale business faster.
SMEDAN was created to help small and medium scale businesses and business owners by providing them the right tools for faster growth.
Director-general, SMEDAN, Dr Umar Dikko Radda, explained that it was expected to facilitate the sourcing, developing, warehousing and managing of a comprehensive and verifiable database of MSMEs with aview to providing wholesome solution to a formalised MSME subsector of the Nigerian economy.
He said that MSMEs that are registered on SMEDAN official website portal would be allowed by the agency to gain access to funding support, empowerment, training and other facilities provided by federal government agencies as well as other lending and support institutions at the federal, state and local government levels.
Radda said that successfully registered MSMEs would be issued a Digital MSME Certificate, as well as a SMEDAN Unique Identification Number (SUIN).
According to him, the programme holds other benefits for MSMEs that include creating higher export potentials, facilitating free matchmaking through SMEDAN’s E-Cloud platforms.
While further stressing that MSMEs would gain subsidized access to specialized advisory and Business Development Support (BDS) services, Radda said in addition, they would be exposed to free mentorship services, and would be allowed to participate automatically in government procurement processes; ensuring tax holidays and other incentives.
Expressing optimism that the registration scheme would also create millions of jobs across the entire country, the DG explained that the justification for a database of grassroots enterpreneurs cannot be over-emphasized, including moving informal enterprises to the formal sector.
According to him, it would industrialise the nation, develop the rural economy, stem youth restiveness and unemployment, as well as create the platform for sustainable economic growth and development in the country.
The on-going registration exercise targets the integration of over 40 million micro, small and medium scale enterprises (MSMEs) across the entire country and the information provided would be accessible to donor agencies and multilateral organisations that wish to provide developmental support for MSMEs across the country.
WHY SMEDAN MSMEs REGISTRATION?
Registering as an MSME on this database will enable critical stakeholders in the private and public sector to provide you with the necessary support, policies and programs tailored for you. Registered MSMEs will be the direct beneficiaries of various SMEDAN programs, as well as other public and private sector organizations.
WHO CAN REGISTER FOR SMEDAN GRANT/ LOAN?
1. The Micro, Small and Medium (SMEDAN) eligible to apply are: Artisans, Traders, Tailors, Fashion Designers, Spare Parts Dealers, Barbers etc, if you are eligible, hurry and apply.
2. You must have at hand, your Birth certificate or age declaration.
3. You must reside and be a Nigerian citizen by birth.
4. You must have a valid phone number and E-mail Address
5. You must have a Bank Verification Number (BVN)
6. You must be between 18 to 45 years before December 31st
7. You must possess a WAEC/BSC/HND degree from a reputable institution
8. You must have a valid identification e.g International Passport, Voters ID-Card, National ID-card or Driver’s License.
- Access to Financial Services: Getting SMEDAN Registration Number will help ease access to loans and grants from governmental and private organizations, as in the case of MSME Survival Fund and SMEDAN’s conditional grant.
- Access to business insurance.
- Access to entrepreneurship training and educational content by professionals, consultants, and private investment opportunities.
- Priority funding from different institutions as well as International Donor Agencies.
- SMEDAN Unique Identification Number (SIUN) and digital Certificate.
Visit SMEDAN website on your mobile device or PC to get started
Some of the information you will be asked to provide include the following;
- Business Name
- Date the business started
- Business address
- Business premises you operate from
- Business type
- Product or Services
- Are you registered with CAC?
- Business by assets value
- Number of staff
- Business Owner Information.