Bank of Industry (BOI) Graduate Entrepreneurship Fund (GEF) 2016 for National Youth Service Corps (NYSC) Members.

By
OFA
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Application Deadline: November 7th 2016

The Graduate Entrepreneurship Fund (GEF) is a special N2.0 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.
  • 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:

  1. 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: boi.ng/gef
  2. Three days intensive entrepreneurship capacity building programme.
  3. Loan amounts of up to N2.0 million to be provided to each successful participant with bankable business plans within BOI’s 35 SME clusters (list at BOI’s website: boi.ng), at an interest rate of 9% per annum, with tenors ranging from 3-5 years inclusive of 6 – 12 months moratorium period.

The Capacity Building Programme is scheduled to hold simultaneously at the following venues:

S/N Geo-Political Zone NYSC Camp Location
1 South-South Former Martins TTC, Issele-Uku, Aniocha North L.G.A, Delta State.
2 South-East Umunna, Bende L.G.A, Abia State.
3 South-West Aisu College Hospital Road, Ede North L.G.A, Ede, Osun State.
4 North-East Government College, Jalingo, Jalingo L.G.A, Taraba State.
5 North-Central Mangu, Mangu L.G.A, Plateau State.
6 North-West Mani Road, Katsina, Katsina State.
7 Lagos Iyana Ipaja, Agege, Lagos State.

 

For More Information:

Visit the Official Webpage of the Bank of Industry (BOI) Graduate Entrepreneurship Fund (GEF) 2016 

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8 COMMENTS

  7. […] The Graduate Entrepreneurship Fund (GEF) programme is a special scheme to encourage and promote entrepreneurship among serving members of the National Youth Service Corps (NYSC). The scheme provides loans of up to N2.0 million at 0% interest rate to support enterprises and potentially viable business ideas. […]

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