FGN/BOI Low-Interest Loans for Empowerment Program in Nigeria

The Federal Government, in collaboration with the Bank of Industry (BOI), has revealed a groundbreaking initiative to provide low-interest loans of up to N1 billion to millions of Nigerians. Dr. Betty Edu, the Minister of Humanitarian Affairs and Poverty Alleviation, made this announcement during the launch of an extensive empowerment program, emphasizing the government's commitment to fostering entrepreneurship.

As part of the initiative, persons undergoing training in business development and registration with the Corporate Affairs Commission will gain access to the N1 billion loan facility from the BOI. The program aims to equip individuals with the skills to enhance their businesses, contribute to job creation, and promote self-sufficiency.

Dr. Edu, during the launch, distributed point-of-sale (POS) machines and provided N100,000 operational capital to participants. Additionally, she unveiled a scholarship support fund of N130,000 for persons with disabilities in tertiary institutions nationwide. Furthermore, the Federal Government has approved a ten per cent inclusion for persons with disabilities in all humanitarian and social safety interventions and schemes under the Ministry of Humanitarian Affairs and Poverty Alleviation. CONTINUE READING.....

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In her address, Dr. Edu highlighted the program's focus on empowering individuals to pursue their dreams, contribute meaningfully to national progress, and align with the vision of leaving no one behind in the development agenda. The government's commitment to inclusivity is underscored by the N20 million annual grant allocated to the Association of Persons Living with Disabilities in Nigeria.

This comprehensive initiative not only addresses economic empowerment but also reflects a broader strategy to create a more inclusive society. CONTINUE READING......

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*We offer instant recharge of Airtime, Data bundle, CableTV (DStv, GOtv & Startimes), Electricity Bill Payment, Recharge Card Print and more.*
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