The
Graduate Entrepreneurship Fund (GEF) is a special N2 billion empowerment
programme for serving members of the National Youth Service Corps (NYSC) which
was launched on October 5, 2015. This novel scheme, which is a joint initiative
of the Bank of Industry (BOI) and the National Youth Service Corps (NYSC), has
the following objectives:
-
Encourage graduates of tertiary institutions currently undergoing the
compulsory one-year NYSC programme, to venture into business and become
employers of labour rather than job seekers.
-
Address the entrepreneurship capacity gap of the NYSC members who are expected
to produce bankable business plans after the three-day capacity building
programme.Related...http://hollalaycan.blogspot.com/2015/10/9-sure-steps-to-set-up-your-own.html
-
Deepen financial inclusion by de-risking the NYSC members and making them
eligible for concessional loans ranging between N500,000 and N2 million to be
provided by BOI.
-
Ensure sustainability of the businesses of the eventual loan beneficiaries
through effective monitoring by the NYSC Directorate and BOI.
The
GEF Programme comprises the following:
a.
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
[
www.scholarship-nigeria.com ]
b.
Three days intensive entrepreneurship capacity building programme.
c.
Loan amount of up to N2 million to be provided to each successful participant
with bankable business plans within BOI's 35 SME clusters (list at BOI's
website www.boi.ng), at an interest rate of 9% per annum, with tenors ranging
from 3 - 5 years
