Complete List Of Ongoing Nigerian Federal Government FGN And CBN Loans And Grants For 2023

The Nigerian Federal Government (FGN) and Central Bank of Nigeria (CBN) offer a range of loans and grants to support various sectors of the Nigerian economy. These loans and grants are aimed at promoting economic growth, job creation, and poverty reduction in the country.

In this article, we aim to provide you with a comprehensive list of ongoing Nigerian Federal Government (FGN) and Central Bank of Nigeria (CBN) loans and grants. Our goal is to provide you with all the necessary information you need to know about these loans and grants in one place.

Types of Nigerian Federal Government FGN And CBN Loans and Grants Available

Agricultural Loans and Grants

The Nigerian Federal Government and Central Bank of Nigeria offer a range of loans and grants to support agriculture in Nigeria. These loans and grants are aimed at improving agricultural productivity, increasing food security, and promoting agribusiness in the country.

SME Loans and Grants

The Nigerian Federal Government and Central Bank of Nigeria also offer loans and grants to support small and medium-sized enterprises (SMEs) in Nigeria. These loans and grants are aimed at promoting entrepreneurship, job creation, and economic growth in the country.

Educational Loans and Grants

The Nigerian Federal Government and Central Bank of Nigeria also offer loans and grants to support education in Nigeria. These loans and grants are aimed at increasing access to education, improving the quality of education, and promoting human capital development in the country.

Healthcare Loans and Grants

The Nigerian Federal Government and Central Bank of Nigeria also offer loans and grants to support healthcare in Nigeria. These loans and grants are aimed at improving access to healthcare, increasing the quality of healthcare services, and promoting the development of the healthcare industry in the country.

List Of The Ongoing Nigerian Federal Government FGN And CBN Loans And Grants

Agricultural Credit Guarantee Scheme Fund (ACGSF)

The ACGSF is a scheme that provides guarantees to banks to encourage them to lend to farmers and agribusinesses. The scheme covers crops, livestock, and aquaculture and is available to farmers and agribusinesses who meet the eligibility criteria.

Bank of Agriculture (BOA)

The BOA is a government-owned development bank that provides loans to smallholder farmers, medium, and large-scale agribusinesses. The bank offers a variety of loan products, including the Anchor Borrowers' Program, which is designed to provide loans to smallholder farmers.

Development Bank of Nigeria (DBN)

The DBN is a development finance institution established to provide funding to micro, small, and medium enterprises (MSMEs). The bank offers loans to MSMEs through participating financial institutions, such as commercial banks, microfinance banks, and development finance institutions.

National Youth Investment Fund (NYIF)

The NYIF is a loan and grant program designed to support Nigerian youth between the ages of 18 and 35. The program provides loans up to N5 million at an interest rate of 5% per annum to eligible youth-owned businesses and individuals.

N-Power Program

The N-Power program is a youth empowerment initiative designed to provide young Nigerians with the skills and tools they need to become self-reliant. The program offers training, tools, and a stipend to young people who participate in various skills acquisition programs.

Anchor Borrowers’ Program (ABP)

The ABP is a loan program designed to provide finance to smallholder farmers. The program aims to create a linkage between anchor companies involved in the processing and smallholder farmers of the required key agricultural commodities.

Creative Industry Financing Initiative (CIFI)

The CIFI is a loan program designed to provide finance to entrepreneurs in the creative industry. The program offers loans at a single-digit interest rate to eligible applicants in the fashion, movie, music, and software development sectors.

Micro, Small, and Medium Enterprises Development Fund (MSMEDF)

The MSMEDF is a loan program designed to provide finance to MSMEs. The program aims to reduce the financing gap faced by MSMEs in Nigeria by providing access to affordable finance.

Non-Oil Export Stimulation Facility (ESF)

The ESF is a loan program designed to provide finance to exporters of non-oil products. The program offers loans to exporters to support the development and expansion of their export businesses.

Youth Entrepreneurship Development Programme (YEDP)

The YEDP is a loan program designed to provide finance to Nigerian youth who want to start or expand their businesses. The program offers loans up to N3 million at an interest rate of 5% per year to eligible youth-owned businesses and individuals.

The National Social Housing Program

The National Social Housing Programme (NSHP), which is the housing component of the FGN Economic Sustainability Plan to provide affordable housing and millions of jobs for Nigerians, is now accepting applications.

P-AADS Loan for Farmer

The CBN, in collaboration with state governments, launched the Accelerated Agriculture Development Scheme (AADS) to engage 370,000 youth in agricultural production in order to address food security and youth unemployment issues across the country.

CBN NIRSAL COVID-19 LOAN

The Central Bank of Nigeria (CBN) launched a stimulus package to aid households and Micro, Small, and Medium-Sized Enterprises (MSMEs) impacted by the COVID-19 pandemic.

FGN Agriculture Loans and Grants for Farmers

To apply for the ongoing Federal Government of Nigeria Agriculture Loans and Grants for Farmers and Aspiring Farmers, the loan exercise is open to all Nigerian farmers from afar and close by.

Trader Moni LOAN

Trader Moni aims to provide micro/petty merchants and businessmen/women in Nigeria with soft loans so they can expand their businesses. After creating an effective tradermoni account, you will be able to request and receive funds directly into your account. APPLY

 

FAQS

Can I apply for multiple programs at the same time?

Yes, applicants can apply for multiple programs at the same time, provided they meet the eligibility criteria for each program.

Which federal government loan is ongoing?

There are several ongoing federal government loans, including the Bank of Agriculture (BOA) and SMEDAN Loan, CBN NIRSAL COVID-19 LOAN, Trader Moni.

What is the latest grant in Nigeria 2023?

As part of its subsidy palliative efforts, the Federal Government has announced a $800 million World Bank grant, aimed at 50 million poor Nigerians, or 10 million households, ahead of the expected elimination of subsidies in June 2023.

Is CBN giving out money?

Yes, the CBN offers various loan programs to eligible individuals and businesses.

How can I apply for CBN collateral free loan?

You can apply for the CBN collateral-free loan by visiting the official website of the NIRSAL Microfinance Bank.

Conclusion

In conclusion, Nigeria's FGN and CBN offer numerous loans and grants to help individuals, businesses, and organizations grow and thrive. From agricultural financing to youth entrepreneurship development, there are various programs available to meet the needs of different sectors of the economy. Aspiring entrepreneurs and business owners are encouraged to explore these programs and take advantage of the funding opportunities available to them.