Are you looking for a way to finance your business, project, or personal needs in Nigeria?
Do you know that there are government loans that you can apply for this month? If you are interested, this post is for you.
There are 10 government loans available this month in Nigeria, and these loans are offered by different federal government agencies and the Central Bank of Nigeria (CBN) to support various sectors of the economy and empower Nigerians.
10 Government Loans Available This Month In Nigeria
1. Bank of Industry (BOI) Loans
The Bank of Industry (BOI) is a government-sponsored bank that provides loans and grants to businesses in different sectors of the economy.
Some BOI products and services include the Youth Entrepreneurship Support (YES) program.
The loan amount ranges from N500,000 to N5 million, with an interest rate of 9% per annum and a tenor of up to 3 years.
Read more on Bank of Industry (BOI) Loans
2. Nigerian Export-Import Bank (NEXIM) Loans
The Nigerian Export-Import Bank (NEXIM) is another federal government agency that provides loans and grants to businesses in Nigeria.
The bank offers several financing programs, such as Export Stimulation Facility (ESF) and Rediscounting and Refinancing Facility (RRF).
The loan amount is up to N50 billion, with an interest rate of 7% per annum and a tenor of up to 360 days.
Read more on Nigerian Export-Import Bank (NEXIM) Loans
3. Presidential Conditional Loan and Grant Scheme
The Presidential Conditional Loan and Grant Scheme is a recent initiative of the federal government of Nigeria to provide financial support to businesses in Nigeria, including nano businesses.
The scheme is part of the Presidential Palliative Program, which aims to cushion the economic impact of the COVID-19 pandemic and stimulate economic recovery.
4. CBN Creative Industry Financing Initiative (CIFI)
The CBN Creative Industry Financing Initiative (CIFI) is a loan program for businesses and individuals in the creative industry, such as fashion, music, film, and information technology.
The program is designed to boost the development of the creative sector and create more jobs and wealth in Nigeria.
Read more on CBN Creative Industry Financing Initiative (CIFI) Available This Month
5. CBN Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS)
The CBN Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) is a loan program for businesses and individuals in the agricultural and non-agricultural sectors of the economy.
The program aims to support the growth and development of small and medium enterprises (SMEs) and create more employment opportunities in Nigeria.
Read more on the CBN Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS)
6. CBN COVID-19 Targeted Credit Facility (TCF)
The CBN COVID-19 Targeted Credit Facility (TCF) is a loan program for households and businesses adversely affected by the COVID-19 pandemic.
The program is intended to provide financial relief and support the economy’s recovery from the pandemic’s negative impact.
Read more on the CBN COVID-19 Targeted Credit Facility (TCF) Available This Month.
7. CBN Healthcare Sector Research and Development Intervention Scheme (HSRDIS)
The CBN Healthcare Sector Research and Development Intervention Scheme (HSRDIS) is a grant program for researchers and institutions in the healthcare sector.
The program promotes research and development of vaccines, drugs, and diagnostics for infectious diseases, such as COVID-19, malaria, and tuberculosis.
Read more on the CBN Healthcare Sector Research and Development Intervention Scheme (HSRDIS) Available This Month
8. CBN Non-Interest Accelerated Agricultural Development Scheme (AADS)
The CBN Non-Interest Accelerated Agricultural Development Scheme (AADS) is a loan program for young Nigerians interested in agricultural activities.
The program aims to create employment and income opportunities for the youth, enhancing food security and diversification of the economy.
Read more on CBN Non-Interest Accelerated Agricultural Development Scheme (AADS) Available This Month
9. CBN Non-Interest Intervention Fund for Textile Sector
The CBN Non-Interest Intervention Fund for the Textile Sector is a loan program for businesses and individuals in the textile industry.
The program aims to revive the textile sector, which is facing several challenges, such as low capacity utilization, high energy costs, smuggling, and counterfeiting.
Read more on the CBN Non-Interest Intervention Fund for Textile Sector Available This Month
10. CBN Non-Interest Microfinance Bank (MFB) Intervention Fund
The CBN Non-Interest Microfinance Bank (MFB) Intervention Fund is a loan program for microfinance banks (MFBs) that operate on non-interest principles.
The program aims to enhance the liquidity and capital adequacy of the MFBs and improve their outreach and service delivery to the low-income and unbanked segments of the population.
Read more on the CBN Non-Interest Microfinance Bank (MFB) Intervention Fund Available This Month.
Conclusion
These are the 10 government loans available this month in Nigeria.
If you are interested in any of them, you should act fast and apply before the deadline.
These loans are designed to help you start, grow, or sustain your business and create more jobs and wealth in the country.
Read the terms and conditions carefully and repay your loan as agreed.
Good luck!
