Explainer: 5 Gov Loans to get N150k and Above in Nigerian Can Apply

Nigerian entrepreneurs or business owners can apply for a number of federal government loan programs to help their brand grow in 2022. Some of these Federal government Loans can help you get business funding from ₦150,000 and above. 

Through intervention loan programs, the Buhari-led government is working hard to revive the economy following the devastating effects of the Covid-19 epidemic on the incomes of small and medium-sized businesses in the country last year.

₦250,000 FG Loan by NDE

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Federal Government SMEDAN Loan

Amount: ₦1,000,000 per Individual

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Lagos State MSME Recovery Fund

Amount: ₦1,000,000 per Individual

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CBN Covid-19 Loan

Amount: ₦1,000,000 to ₦25,000,000 per Individual

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Nigeria Youth Investment Fund

Amount: ₦250,000 to ₦500,000 per Individual

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These financial programs are initiated by the federal government and have already helped thousands of people, aimed at youth and SMEs.

READ: Exposed: Faces Of Some Online Loan Apps Agents Terrorising Nigerians

These loan programs are also available in 2022. Let’s take a look at some of the best federal government loan programs you can apply for in 2022.

Tertiary Institution Entrepreneurship Scheme (TIES) Loan Programme

The Third Institute Entrepreneurship Program (TIES Loan Program) is for Nigerian graduates and undergraduates who have entered a Nigerian university or polytechnic.

CBN N500 million the undergraduate and graduate loan was developed as part of TIES in collaboration with Nigerian universities and polytechnics to exploit the entrepreneurial potential of Nigerian graduates.

Graduates with less than seven years of experience can apply for a loan of up to $ 25 million under the loan program.

The Agribusiness / Small and Medium Enterprise Investment Scheme (AGSMEIS) is a program that supports the federal government’s efforts and policy initiatives to promote agribusiness and small and medium-sized enterprises (SMEs) as a means of long-term growth and job creation.

READ: MSME loan: CBN disburses N159.21 billion to 330,128 Nigerians

Applicants without a deposit until 2022. can borrow up to 10 mln. N, with an annual interest rate of 5% and an annual interest rate of 9% for a maximum of 5 years for the remaining years. The morgue usually lasts 12 months.

AGSMEIS loan is now available to entrepreneurs in a variety of areas, including agriculture, creative industries, hospitality, and so on.

If you are a current or former member of the National Youth Service Corps (NYSC) and have a business or business idea that needs a federal government loan to strengthen or start it, you now have the opportunity to apply to the NYSC. Business loan

The NYSC business loan was launched by CBN through Heritage Bank, in conjunction with the Youth Innovative Entrepreneurship Development Program (YIEDP), to help graduates start a business, start working independently and create jobs for others.

The federal government has updated the application process for the Nigerian Youth Investment Fund for eligible young people who want to take advantage of the program to improve their lives.

NYIF is a $ 75 billion loan program developed by the Nigerian government to invest in the innovative skills of young people and businesses in the country.

The loan bears a single interest rate of 5% per annum and a grace period of 12 months before repayment. 2020 July. Authorized by the Federal Executive Council

Nigeria Youth Investment Fund.

National Housing Fund (NHF) Loan

The Federal Mortage Bank Of Nigeria (FMBN) has a number of lending and credit facilities available to Nigerians, particularly low- and middle-income earners. The NHF is one of its most important credit institutions, allowing low-income earners who are unable to purchase a home to own their own home.

NPower Government Enterprise and Empowerment Programme (GEEP) Loan
The Government Enterprise and Empowerment Programme (GEEP) is an effort by Nigeria’s Federal Government, through the Bank of Industry (BOI), to break a multi-decade economic challenge. It is a Nigerian government program to give financial inclusion and microcredit access to Nigerians at the bottom of the economic pyramid.