The graduate entrepeurship fund (GEF) invites applications from serving corps members for its grants.This a special N2.5 bilion empowernment programme for serving members of the National Youth Service Corps (NYSC) which was launched on October 5, 2015. This novel scheme is a joint initiative of the Bank Of Industry and National Youth Service Corps.
- To encourage graduate especially serving Corp members to embrace entrepreneurship and become job creators rather than job seekers.
- To help address the entrepreueship capacity gap of serving Corp members who are expected to produce bankable business plans after the 3 day caacity building programme.
- Deepen financial inclusion by de-risking the NYSC members and making them eligible for concessional loans for loans between 500,000 and 2 million naira to be provided by the bank of industry.
- Ensure the sustainability of the businesses of eventual loan beneficiaries through efective monitoring by NYSC and BOI.
THE GEF PROGRAMME WILL COMPRISE THE FOLLOWING:
- Online business plan competition to select the most promising real sector business ideas. Selection/Screening of participants shall be done via the GEF online application portal: www.boinigeria.com
- Three days intensive entrepreneurship capacity building programme.
- Loan amount of up to 2 million naira to be provided for each successful participant with bankable business plans within BOI’s 35 SME clusters at an interest rate of 9% per annum, with tenure ranging from 3-5 years inclusive of 6-12 months moratorium period (see list of clusters on www.boi.com.ng).
CAPACITY BUILDING PROGRAMME IS SCHEDULED TO HOLD SIMULTANEOUSLY IN THE FOLLOWING LOCATIONS
S/N GEO-POLITICAL ZONE/STATE NYSC CAMP LOCATION
- South-South Former macfris TTC Issele-uku, Aniocha north L.G.A , Delta
- South-East Umunna, Bende L.G.A , Abia state.
- South-West Aisu College Hospital Road, Ede. Osun state
- North- East Government College Jalingo
- North-Central Mangu, Plateau state
- North-West Mani Road, Katsina, Katsina state
- Lagos Iyana Ipaja, Agege, Lagos state
How to Apply
Interested serving NYSC members are hereby requested to apply online as soon as possible at www.boi.com
Deadline: The Entrepreneurship Capacity Building Programme will take place at the above stated centers between 18th-20th November, 2015