Three Life Changing Opportunities For Nigerian Youths

 

The Federal Government is offering free business registration to 250,000 Micro, Small and  Medium Enterprises (MSMEs) nationwide under its recently launched Survival Fund Scheme."

The Minister of State for Industry, Trade and Investment, Amb Mariam Katagum, disclosed this in an interview with the News Agency of Nigeria (NAN) on Monday in Abuja. This is part of business formalisation Support of the MSMEs Survival Fund

As part of 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 34 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.

The Aggregators for each states have been appointed to receive applications from interested persons in line with CAC requirements. 

Also, the Federal Government's initiative to lift more than one million Nigerians out of poverty is gradually taking shape. They have officially announced the commencement of registration of youths across the 36 states, including the Federal Capital Territory for the N75 billion Nigeria Youths Investment Fund (NYIF).

The Personal Assistant on new media to President Muhammadu Buhari, Bashir Ahmed took to his official Twitter account to make this announcement.

His Tweet Reads:

IMPORTANT: The application portal for the N75bn Nigeria Youth Investment Fund (NYIF) is officially opened for registration. Youths (18-35 yrs) with business ideas that require funding can apply for N250,000 - N5,000,000.

Visit: www.nyif.nmfb.com.ng for application

          www.survivalfund.gov.ng

Before you visit the website, get your bank verification number (BVN) ready because it will request for it.

The Central Bank of Nigeria has revealed the eligiblity criteria for would-be beneficiaries and businesses/activities, for the N75 billion Youth Investment Fund that was recently launched;

ELIGIBLITY FOR SOLE PROPRIETORS OF INFORMAL ENTREPRISES.

(1) Be a Youth within the age of 18 to 35 years.

(2) Possess a Local Government Indigene Certificate.

(3) Have a valid Bank Verification Number (BVN).

(4) Have a business domiciled and operational in Nigeria.

(5) Has not been convicted of any financial crime, in the last ten years.

ELIGIBLITY CRITERIA FOR FORMAL BUSINESS ENTERPRISES.

(1) Evidence of registration with the Corporate Affairs Commission (CAC).

(2) Tax Identification Number (TIN).

(3) List of Directors with their BVN numbers.

(4) Evidence of regulatory approvals.

Impressively, the Access Bank announces 50 Billion Interest Free Loan and grants for Nigerians. This is first of it's kind in recent times in Nigeria. The bank’s official statement read thus,

''Now more than ever, we remain committed to our purpose of impacting lives positively. In light of the recent occurrences, we will be supporting Nigerian businesses with 50 Billion Naira interest-free loans and grants. Watch this space for more information.”

The impact of the pandemic, coupled with the hijacked #EndSARS protests that led to the looting of businesses and destruction of properties has thrown so many Nigerians into debts.

Therefore, we are announcing that we have set aside a minimum of N50bn (through interest-free loans and grants) to support the rebuilding of businesses and to bring greater opportunities. This will be used to support:

The communities we live in, the people who protect us, and the spaces that we need as communities to thrive. Our micro, small, and medium-sized businesses who employ most Nigerians and feed and educate our children.

Our young population who represent the future and hope for our nation.

We must heal our wounds and come out stronger so that we can occupy our true position in the world and bring a better future for our children.

A lot is happening to improve the well being of Nigerians. This will not come without responsibilities from the citizens also. Like having business name or company registration.  Let's keep our fingers crossed  to see how Access Bank wants execute this lofty ideas.

Good luck as you take advantage of these opportunities to apply!

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