The Central Bank of Nigeria (CBN) through Sterling bank and Heritage bank is providing finance in form of loan to youths under ‘Youth Innovative Entrepreneurship Development Programme’ (YIEDP) in furtherance of its intervention in the real sector of the economy and job creation effort. YIEDP is open to NYSC members and Non-NYSC with not more than five years post-NYSC experience.
The programme is aimed at harnessing the latent entrepreneurial spirit among the teeming youths by providing timely and affordable loans to implement their business ideas. This further provides a sustainable mechanism to stimulate employment, contribute to the Nation’s non-oil GDP, and address the challenge of youth restiveness.
Individual can access credit line of up to 3 million while a group of 3-5 can access up to 10 million using their academic certificate, NYSC certificate, third party guarantors and other moveable assets as collateral.
Qualified youths between the ages of 18 and 35 are advised to put their creative ideas in form of bankable business plan to qualified for the loan. With your business plan intact you can easily extract your business proposal for submission during online application.
Ayodele Farinde is an agribusiness, greenhouse and organic agriculture expert.
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