Federal Government Funding Programmes for Nigerians in 2026
The Federal Government of Nigeria operates several funding programmes aimed at supporting students, entrepreneurs, farmers, and small business owners. Osas Igho identified key funding grants, urging Nigerian entrepreneurs to utilize them.
The Nigerian Loan Fund (NELFUND), established under the Student Loans (Access to Higher Education) Act 2024, provides financial support to eligible students in tertiary institutions. The Bank of Industry's Guaranteed Loans for Women programme offers ₦10 billion in funding for women-owned businesses, including mentorship and capacity-building support.
The Rural Area Programme on Investment for Development (RAPID) targets nano, micro, and small businesses in rural areas, combining financial support with business advisory services. Additionally, businesses in Nigeria's oil and gas sector can access funds through the Bank of Industry and the Nigerian Content Development and Monitoring Board.
NYSC corps members can benefit from a ₦2 billion entrepreneurship intervention by the Bank of Industry, aimed at helping them establish sustainable businesses. The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) also operates relevant intervention programmes.
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