opportunities

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

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/

UNION BANK SUPPORTS SMEs

11 Jun 2020 By halimafarouk

All over the world, the current pandemic has had unthinkable impact on people, Small business owners,communities, companies and economies.

This is why one of Nigeria’s most reliable and trusted banking partner   have come up with #TheRiseChallenge to shine the spotlight on their customers, who are doing all you can to rise above this pandemic. If you are being innovative, charitable, creative and resourceful and the union bank wants to hear your story.

Every week for the next 4 weeks, they will select 10 of the most inspiring stories to share and reward. If your story is selected, you will receive N250,000 Naira from Union Bank to support the work you are doing to RISE above the pandemic.

Apply for the 3rd National MSME Awards (Virtual Edition)

08 Jun 2020 By ummiyusuf

Entrepreneurs are encouraged to apply for the Virtual Edition of the National MSME Awards and stand a chance to win cash and other valuable prizes.

The Award Program is an initiative of the Federal Government under the National MSME Clinics Platform and it aims to support and appreciate the efforts of entrepreneurs towards the development of the economy.

The Presidency is working diligently to ensure MSMEs survival during these turbulent times and has not allowed the pandemic to deter it from showing appreciation to outstanding MSMEs.

Award Categories include; Agriculture, Fashion, Manufacturing, Creative Arts, Leather Works, Woodworks, Technology Innovation and many more.

Registration is ongoing and will end on 30th June 2020. Apply today by visiting www.msmeclinics.com.ng

NAFDAC provides 80% discount on registration for MSMEs

19 May 2020 By ummiyusuf

As more palliatives are being rolled out by the Federal Government to protect and sustain MSMEs in the face of the current pandemic, entrepreneurs also need to keep abreast of the environment and identify opportunities they can tap into in order to stay afloat.

One of such opportunities which is also a palliative of the Government, is the discount on online registration of products offered by the National Agency for Food and Drug Administration and Control (NAFDAC) through the Automated Product Administration and Monitoring System (NAPAMS)

MSMEs can now process the registration of their products with NAFDAC from the comfort of their homes, and at an 80% discounted rate over a period of six months. Other palliatives under the platform include; zero tarrifs for the first 200 micro and small businesses to register on the e-platform, and waiver on administrative charges for overdue/late renewal of expired licenses of products for a period of 90 days.

Products that can be registered include Food, Drug and Medical devices, Herbal and Cosmetics, Vaccines and Biologics, Chemicals, Narcotics and Vetinary.

Take advantage of this opportunity by visiting http://www.napams.org

Micro, Small and Medium Scale Enterprises (MSMEs) to benefit from the 50 Billion Targeted Credit Facility (TCF)

04 May 2020 By ummiyusuf

The Central Bank of Nigeria, in its efforts to assist and provide cashflow to individuals and businesses adversely affected during the Covid-19 lockdown, has introduced the 50 Billion Targeted Credit Facility (TCF).

This scheme which is supported by the Abuja Enterprise Agency, is expected to reach out about 3,256 individuals and businesses.

Follow these quick steps to access the fund:

  1. Submit an application to Nirsal Microfinance Bank via your phone, tablet and laptop, with clear evidence of the opportunity or adverse impact of the Pandemic.
  2. Await approval of your application by NIRSAL and the Central Bank

If your application is approved by the Central Bank, then the process of disbursement will be communicated to you by NIRSAL Microfinance Bank.

To begin your application, visit nmfb.com.ng

Zenith Bank Promotes Women Empowerment

30 Apr 2020 By Amina M Bello

Nigeria’s leading financial institute, Zenith Bank Plc has introduced a new merchandise, Z-Woman, which is focused on endowing female business owners.

Z-Woman account holders stand a chance to experience loans of up to N10 million at a single digit interest rate, free digital skills training, free exhibition stands at Zenith Bank events and many other benefits which will help them grow their businesses and increase their sales.

According to the Group Managing Director/ Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, Z-Woman offers women the opportunity to enjoy a partnership with the Zenith Bank brand as the name Z-Woman implies. The Z-Woman account is designed to address the unique needs of women-owned businesses and offer them unmatched services that empowers them to do more and achieve more.

To learn more about Z-Woman, please visit www.zenithbank.com/zwoman

Call for Enrollment for the NIRSAL PLC Agro Geo-Cooperative Formation Process

30 Apr 2020 By ummiyusuf

The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL PLC) is calling on all smallholder farmers, farmer leaders and aggregators to key into its Agro Geo-Cooperative model created for the purpose of sustainable farm/field structuring and governance, to enable sustainable access to finance, quality inputs and structured markets through NIRSAL’s facilitation.

The exercise aims at creating 16,000 Agro Geo-Cooperatives (ranging from 10 hectares to 20,001 hectares and above) on 4 million hectares of farmland and enrolling about 8 million farmers across Nigeria who are expected to produce about 12 million metric tonnes of Grain Product Equivalent (GPE) annually over the medium to long term.

It will also serve as a means of employment and a source of income generation for organised Agro Geo-Cooperatives during this pandemic.

To begin the enrollment process, click the link below:

https://nirsal.com/agrogeocoop/

Covid-19 Stimulus Package: Stabilizing the economy amidst the pandemic

08 Apr 2020 By ummiyusuf

The Corona virus pandemic remains the top headline in all media channels, affecting the old and young and causing a downturn in economic activities around the World.

However, to reduce the spread of the virus and track those that might be carrying the virus in Nigeria, the Federal Government imposed a 14-day lockdown in few states including the FCT, which began on the 30th of March 2020.

Consequently, the lockdown has taken a toll on the activities of Micro, Small and Medium Enterprises (MSMEs) as consumption habits have changed and only certain categories of businesses are allowed to carry on their activities. Thus, people may ask questions such as; what happens to the businesses on lockdown, how will they survive, how will they provide for their families and what is the government doing to ease their plight.

In its proactive measures to provide answers to the questions above, the Federal Government through the CBN, introduced a Covid-19 stimulus package to help households and small businesses hardest hit by the adverse impact of the coronavirus pandemic.

These packages come in the form of food packs and credit facilities and can be assessed via nmfb.com.ng which is the Nirsal Microfinance bank website.

As the Federal government gradually continues to make provisions for all categories of businesses under the Covid-19 stimulus package, we must ensure to take the necessary precautions to prevent the disease and stay healthy, as the saying goes: “where there is life, there is hope”

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