The Nigerian Federal Government has launched a loan program through the National Directorate of Employment (NDE) to assist unemployed Nigerians in becoming employers of labour. The loan program offers a maximum of ₦250,000 to eligible applicants.
The NDE has begun accepting applications for the loan program, and interested candidates must have received training from an Entrepreneur Development Institute (EDI) . The application process is straightforward and can be completed online through the NDE Loan Application Portal.
Interested candidates must have received training from an Entrepreneur Development Institute (EDI). The applications will subsequently be forwarded to CBN for review. Applicants will be contacted for an interview about their business.
NDE ₦250,000 FG Loan Requirements
Below are the requirements for the FG Loan by NDE
- Applicant’s full name, phone number, and residential address
- Applicant’s bank verification number (BVN) and bank account details
- Applicant’s business name (if you own a registered business)
- Applicant’s next of kin’s full name and phone number
- Applicants must have received training from an Entrepreneur Development Institute (EDI)
- Applicants are required to submit their loan application through an EDI
NDE ₦250,000 FG Loan Application Guidelines
To apply for the loan, follow these guidelines:
- Visit the official website of the National Directorate of Employment (NDE) at www.nde.gov.ng.
- Click on the loan application link on the homepage.
- Fill out the application form with the required details.
- Upload the necessary documents, including a business plan.
The loan program is aimed at uplifting individuals, creating job opportunities, and stimulating economic growth. The NDE has already trained and provided loan packages ranging from ₦250,000 to ₦500,000 to 40 beneficiaries out of 100 who underwent entrepreneurship training.
In agriculture, the NDE’s Rural Employment Promotion Department recently trained 93 participants who were each given a loan package of ₦100,000. Some of the beneficiaries bought cows, while others are in crop production; some are in the agriculture value chain, and they have already employed some hands and become employers of labour.
The NDE loan program is a significant contribution to addressing Nigeria’s unemployment problems. The federal government is focusing on unemployed youths by implementing various interventions to help them become self-employed. The CBN’s Nirsal Microfinance Bank and the Bank of Agriculture are also progress partners that help and assist unemployed adolescents to become labor employers.
The Nigerian government hopes that this loan scheme will lead to increased commercial activity, increased employment, and a poverty reduction.