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Business Funding For Nigerians

A variety of funding Opportunities exit for Nigeria entrepreneurs,listed below is a few,

1.The Government Enterprise And Empowerment Programme (GEEP)

In the 2017 budget signed some few weeks back, the government set aside N112.2 billion for enterprise empowerment. The scheme is established to provide interest-free loans to business owners and artisans in the country. Beneficiaries of the scheme will get between 10,000- and 100,000-naira loans with a one-time 5%-administrative fee.

About 200,000 Nigerians benefited from the scheme in 2016. GEEP, in addition to four other social investment plans are ways the federal government aims at helping Nigerians finance their businesses.

2.Business Development Fund For Women (BUDFOW) (http://boi.ng)

BUDFOW is a project of the Federal Ministry of Women Affairs and Social Development (FMWASD) but managed by the Bank of Industries.

The fund programme empower vibrant and ambitious women; to encourage young women to be innovative enough to compete in the entrepreneurial world.

Since inception, N165 million has been disbursed. The interests and returns from those given out are what is being used to sustain the fund. It is not only for startups; it also empowers those that want to expand their businesses. Such businesses must be registered to enjoy this benefit.

3.Dangote-Boi N5-Billion Fund For Small Businesses (http://www.boi.ng/dangotefoundationboi-matching-fund/)

This is a partnership between Dangote and Bank of Industries. The purpose of the foundation is to set up enterprises and support entrepreneurs in Nigeria.

One of its crucial aims is to also create at least a million direct jobs. The initial fund was N5 billion, but the plan is to grow it to about N20 billion. It empowers at least 250,000 lives directly annually.

4.African Women’s Development Fund (http://awdf.org)

This programme is designed basically to empower women and promote equality in Africa. It gives support to women in cash and other needed resourceful materials. Currently, they have 1,160 women organisations from 42 countries in their network.

Apart from the individual opportunity, they also give special funding to the organisations in their network. This is meant to train, support and amplify the voice of women and make them financially independent.

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