Entrepreneurship

FATE Foundation’s Business Recovery Program for Young Entrepreneurs

26 Feb 2021 By ummiyusuf

FATE Foundation has launched the Business Recovery Programme (for youth) to support young Nigerian entrepreneurs hit by the economic impact of covid-19.

The Foundation in collaboration with  Standard Chartered Foundation, aims to support 2000 young entrepreneurs through the program which will be run throughout the year 2021.

FATE Foundation will provide a holistic package of support including Digital Transformation Workshop, Resilience Building Series, and Remote Consulting & Advisory services to be delivered virtually to 2000 entrepreneurs across Nigeria.

The key target segments are:

  • Young entrepreneurs (between the ages of 18-35)
  • Female entrepreneurs (a minimum of 50% will be targeted)
  • Micro-entrepreneurs (as defined by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) – businesses that have less than 10 employees and are valued at less than 5 million Naira).

Visit www.fatefoundation. org for more information or click on the link below to apply. Application is free!!!

https://www.fatefoundation.org/project/youth/

Grow your enterprise by applying for the Guaranteed Offtake Stimulus Scheme

11 Feb 2021 By ummiyusuf

Are you a Nigerian National?

Have you registered your business name with CAC?

Are you ready to produce under NAFDAC and SON specifications?

Do you have a verifiable BVN and Bank Account Number?

Do you have upto 2 or more staff members?

If yes,then you are qualified to apply for the Guaranteed Offtake Stimulus Scheme which aims to protect and sustain the incomes of vulnerable MSMEs in this pandemic.

The products captured under the scheme are in two categories; processed foods, and sanitization and cleaning.

To apply for the fund and get more details about the scheme, visit www.survivalfund.gov.ng. Registration is free!!!

Invitation to register for the Innovation Fellowship for Aspiring Inventors and Researchers (i-Fair) Isreal Nigeria 2020/21

02 Nov 2020 By ummiyusuf

Registration has commenced for the i-Fair 2020/21, an initiative born out of the need to raise a generation of INNOVATORS, INVENTORS and RESEARCHERS in Nigeria; especially among the youths.

i-FAIR is offering Nigerian aspiring inventors a unique opportunity to showcase innovative ideas in the fields of Agriculture and Food Technology, Renewable Energy/Environmental Management, Medical Devices/Simulation, and Social Responsibility/Innovation for the Physically Challenged.

Register now and gain access to;

  • A 3 days skills development and interactive session with the mentors and co-participants at the Skill “G” Innovation Center, Abuja.
  • Sixty (60) hour “Introduction to Entrepreneurship” course, during which participants will work at the Innovation Center to develop their ideas, projects and prototypes.
  • A 3-day Grand Finale Experts/Investors Panel (“Sharks” format) Event; where participants will present their projects and prototypes.

Click on aea.org.ng or www.ifair-israelnigeria.com/form-app/form.php to begin the registration process.

Opportunities for Youth at the Federal Ministry of Youth and Sports Development

22 Oct 2020 By ummiyusuf

Have you registered your business with the Federal Ministry of Youths and Sports Development?

Register today and gain access to various business intervention/support programmes including funding.

The Federal Ministry of Youth and Sports Development is the outcome of the merger of the defunct Federal Ministry of Youth Development (FMYD) and the National Sports Commission (NSC) with a mission to provide sustainable framework for the formulation and implementation of policies, programmes and other initiatives which promote and enhance youth and sports development in collaboration with stakeholders.

Some programmes developed by the Ministry aimed to assist youth and youth owned enterprises includes;

  1. National Youth Investment Fund (NYIF)
  2. The Work Experience Program
  3. IBM Digital -Nation Africa training

To register, visit youthandsport.gov.ng or dy.ng

Boost your business by applying for the N60 billion MSME Survival Fund and N15 billion Guaranteed Off-take Scheme

29 Sep 2020 By ummiyusuf

As we adapt to the pandemic, terming the current condition as the ‘new normal’ and as restrictions are gradually being lifted by the Presidential Task Force on Covid-19, MSMEs are still struggling to survive while dealing with increased cost of production, low sales due to increased prices of output, high cost of raw materials, inability to cover the cost of labour and many others. These problems have also led some MSMEs to close down their business thus increasing the unemployment rate in the country.

To further cushion the adverse effects of the pandemic on the growth of MSMEs, the Federal Government has taken another step to introduce the N60 billion MSME Survival Fund and N15 billion Guaranteed Off-take Scheme as part of the Nigerian Economic Sustainability Plan (NESP), to boost the economy by saving existing jobs and creating new job opportunities.

The fund aims to assist MSMEs by providing;

  1. Payroll support to MSMEs in meeting payroll obligations
  2. Free CAC Business registration for 250,000 new businesses
  3. Artisans/Transport support
  4. Grant of N50,000 for 100,000 MSMEs adversely affected by the pandemic
  5. Means for bulk purchase of products for 100,000 MSMEs

Target beneficiaries of the funding schemes include; Registered MSMEs, employees of MSMEs and self-employed individuals.

Registration is on!!!!

For more information and details on registration, visit www.survivalfund.ng

FCT One- Stop-Shop: Business regulators under one roof

27 Jul 2020 By ummiyusuf

The FCT MSME One-Stop-Shop was officially commissioned by the Vice President of Nigeria on 6th September, 2018.

The One-Stop-Shop brings together business regulators under one roof with the aim of providing a platform for convenient, continuous and and easy interaction between the government agencies and Nigerian-based MSMEs.

The One-Stop-Shop destination for FCT is the Abuja Enterprise Agency Entrepreneurial Complex, located at Plot 74, Sector Centre ‘A’ Cadastral Zone B15, Jahi District, Abuja.

The building is open to members of the public to visit and access services of various business regulators including;

  • Corporate Affairs Commission (CAC)
  • National Agency for Food and Drug Administration and Control (NAFDAC)
  • Federal Inland Revenue Service (FIRS)
  • Industrial Training Fund (ITF)
  • Nigerian Export Promotion Council (NEPC)
  • Standards Organisation of Nigeria (SON)
  • Nigerian Export-Import Bank (NEXIM)
  • Bank of Industry (BOI)
  • Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)
  • Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL)
  • National Information Technology Development Agency (NITDA)
  • Abuja Chamber of Commerce and Industry (ACCI)
  • Bank of Agriculture (BOA)
  • FCT Microfinance Bank

You can also follow the One-Stop-Shop on its instagram and facebook pages using the following links: www.instagram.com/ossabuja/ and www.facebook.com/ossabuja/

Womenpreneur Pitch-a-ton Africa 2020: Inspiring female entrepreneurs across Africa

09 Jul 2020 By ummiyusuf

Are you a woman who owns and runs her business?

Is your business innovative?

Do you need grant to expand your business?

Do you also need expert training to help grow your business?

If your answers to all these questions is YES, go ahead and apply for the  Womenpreneur Pitch-a-ton Africa 2020, and stand a chance to win N5millon and attend a mini MBA.

Womenpreneur Pitch-a-ton Africa is an initiative of Access Bank, designed to provide female owned businesses across Africa an opportunity to access finance and World-Class business trainings as well as mentoring opportunities.

This being the 2nd edition, will provide up to N9million financial grant for female entrepreneurs and a unique capacity building program coupled with a mini MBA training in collaboration with ITC.

To apply, click the link below:

Womenpreneur.ng

Application Closes August 14, 2020.

Non-interest loans for farmers and MSMEs

24 Jun 2020 By ummiyusuf

The Central Bank of Nigeria (CBN) is set to establish a policy on non-interest loans which will be integrated in its intervention programmes especially the Anchor Borrowers Programme (ABP) for farmers, and the Targeted Credit Facility for households and Micro, Small and Medium Enterprises (MSMEs) affected by the current pandemic.

The Bank’s Director, Development Finance Department, Yila Yusuf, made these disclosures at a stakeholders’ meeting held in Abuja to review the successes recorded so far under the ABP and the strategies for the 2020 agricultural wet season.

Furthermore, the intervention is expected to create about five million jobs down the agro-commodities value chains stimulate Nigeria’s speedy economic recovery.

So, how can MSMEs, households and farmers gain access to these non-interest loans when it is officially announced by the CBN?

One can begin by applying for the CBN interventions such as the ABP, Targeted Credit Facility, and others, because the the non-interest loans will be integrated with these programs.

To read more about the CBN interventions, visit nmfb.com.ng

CBN introduces intervention scheme and grants for Research and Development in Healthcare

16 Jun 2020 By ummiyusuf

As part of its policy response to the COVID-19 pandemic, the Central Bank of Nigeria has introduced the Healthcare Sector Research and Development Intervention Scheme (HSRDIS) to help strengthen the public healthcare system with innovative financing of research and development (R&D) in new and improved drugs, vaccines and diagnostics of infectious diseases in Nigeria.

The main objective of the scheme is to provide grants for Research and Development in the Healthcare system, whereby researchers and local manufacturers can come up with vaccines, drugs and herbal medicines towards the treatment and prevention of communicable and non-communicable diseases, including the Corona virus.

The Scheme also aims to boost domestic manufacturing of critical drugs and vaccines to ensure their sustainable domestic supply and reduce the bulk manufacturing costs.

The Scheme, which will be funded from the Developmental Component of the Micro, Small and Medium Enterprise Development Fund (MSMEDF), enables access to grant of up to N50 Million for research activities and a maximum of N500 Million for Development/Manufacturing activities.

For detailed guidelines and eligibility to access the scheme, click the link below:

https://www.cbn.gov.ng/Out/2020/CCD/Healthcare%20RnD%20intervention%20guidelines.pdf

FG TO DISTRIBUTE AGRICULTURAL INPUTS TO FARMERS

13 Jun 2020 By halimafarouk

An endeavor has been made by the Federal Government to alleviate the effect of the COVID-19 pandemic on food production in Nigeria, the government started the dissemination of agricultural inputs to farmers nationwide.

According to the Federal Ministry of Agriculture and Rural Development, the move would enhance agricultural production and avert food scarcity in 2021.

It said in a statement issued in Abuja on Monday that the inputs distributed to smallholder farmers included various varieties of seeds of rice, maize, wheat and palm seedlings.

The Minister of Agriculture and Rural Development, Sabo Nanono, inaugurated the distribution exercise in Kaduna.

He stated, “The Federal Government will continue to support smallholder farmers with relevant inputs through associations and cooperatives to ensure that the country does not experience food shortages as a result of the pandemic.

“Rice farmers through the Rice Farmers Association of Nigeria will receive support worth about 270 metric tonnes and 300MT of certified seeds of FARO 66 and 300MT of foundation seeds of flood- tolerant rice varieties of FARO 66 and FARO 67.”

He added, “The ministry is also distributing 26MT of certified wheat seeds to wheat farmers, 1,350 maize production kits and 18,517Kg of Aflasafe to ensure that the maize produced is aflatoxin-free.”

Nanono said the association was expected to distribute the seeds to its members nationwide for the 2020 cropping season.

Source: https://punchng.com/fg-distributes-agricultural-inputs/

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