Nigerian Publishes Framework for Implementation of N75 Billion Youth Investment Fund

The Nigeria government has released the framework for the implementation of the N75 billion Youth Investment Fund. This was disclosed in a publication titled “Framework for the Operation of the NIRSAL Microfinance Bank Window of the Nigeria Youth Investment Fund” from the Central Bank of Nigeria. NIRSAL, a risk agency within CBN, will do the implementation.

The Federal Government of Nigeria has released instructions on how to access the N75 billion Micro, Small and Medium Enterprises (MSME) Survival Fund. The program took effect from September 21, 2020. This fund is part of the N2.3 trillion stimulus package of the Nigerian Economic Sustainability Plan.

Here is the link; please apply. It is your money and do not wait. Part of this is structured as a grant which means you may not have to pay for it (that can change though). Also check this link.

Good luck. If you are attending Tekedia Mini-MBA, we will get an expert to provide guidance on this next week.

Meanwhile, the government has started the disbursement of N30,000 one-time grant to 330,000 artisans across the country.

As the implementation of the Economic Sustainability Plan progresses, the payment of N30k one-time grant to 330,000 artisans across the country is now in progress with Lagos, Kano, FCT and nine more States in first batch, a Statement from Office of the Vice President.

— Bashir Ahmad (@BashirAhmaad) October 27, 2020

The government has moved really fast on the Survival Fund implementation since the site went up a few days ago. Also, this week, the news is that the President has approved the free business registrations for small businesses. While I do not support these typically wasteful initiatives, I commend the government on doing anything it could do to bring short-term peace. My proposal has been consistent: find an anchor city in each region, and use the money to provide 24/7 electricity for the artisans. If you do that, they would create jobs, help themselves and others. That is a more sustainable roadmap than giving N30k (about $80) to men and women.