₦75 Billion FGN/BOI MSME Intervention Fund: How Nigerian Businesses Can Apply Hybridteck Blog | Business, Entrepreneurship & Funding Opportunity Are you running a small business in Nigeria and looking for funding to expand your operations, purchase materials, acquire equipment or strengthen your working capital? The Federal Government of Nigeria, through the Bank of Industry (BOI), has established a ₦75 billion MSME Intervention Programme designed to support Micro, Small and Medium Enterprises across Nigeria. Unlike a grant, this programme provides loans that must be repaid . According to the official FGN/BOI MSME Intervention Portal, eligible businesses can access up to ₦1 million , with an interest rate of 9% per annum (all-inclusive) and a repayment period of three years . Repayment begins three months after disbursement . ( FGN/BOI MSME Intervention Portal ) Key Features of the Loan Feature Details Total Intervention Fund ₦75 billion Maximum per business ₦1 million Interest r...
₦50,000 SMEDAN Conditional Grant: Opportunity for Micro Businesses in Nigeria Hybridteck Blog | Business & Entrepreneurship Opportunity Update Small businesses remain an important part of Nigeria's economy, and access to small amounts of capital can make a meaningful difference for entrepreneurs operating at the grassroots level. The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) currently lists its Conditional Grant Scheme (CGS) for Micro Enterprises as a government support programme designed for nano and micro businesses. ( SMEDAN ) What is the SMEDAN Conditional Grant Scheme? According to SMEDAN, the Conditional Grant Scheme is intended to provide financial support to nano businesses, including support for workforce needs and equipment procurement. The current SMEDAN programme information states that qualifying nano businesses can receive a ₦50,000 grant , subject to the condition of employing one person , with the objective of encouraging ...