Last year the World Bank allocated $750M to Nigeria to support small business owners.
Vice President Yemi Osinbajo, SAN, made it clear in Abuja at the launching of the NG-CARES national program.
NG-CARES is a multi-sectional programme including Economics Sustainability Plan (ESP), with other programs such as State cash Transfer Units, Agricultural Development Agencies, and Job creation units/MSE support units provided by the government, Government Enterprise and Empowerment Programme (GEP).
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Prof. Osinbajo has said that the program will focus on the poor masses of this country. He said, “NG-CARES programme is designed to support the poor and poor in Nigeria, and provide emergency aid to small farmers and business SMEs affected by the Covid-19 pandemic.”
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Vice President added that the World Bank account will be for two years (2021-2023), with each state to be 20 million dollars, FCT to be 15 million dollars, and NG CARES Support Unit will be $1 million. 5.5 States to run the program through the Results-PforR delivery mechanism.
NG-CARES World Bank Programme designed to restore business in Nigeria amid the effects of the Covid-19 and other concerns.
Support has been given from one hundred thousand to one million naira. When traders who register their business with the Business Administration will be given 1 MILLION upwards
To be eligible for this grant, you must first attend business training with Federal approved institutions such as SMEDAN and NDE.
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After the training session, you will visit the Ministry of Commerce and Industry in your state with Any of your ID cards, EDI Certificate (EDI Certificate is given after training and if you are trained for AGSMEIS LOAN, Please travel to ministry with the certificate, this training will not be available again.
At the ministry, once you present your CERTIFICATE, you will be given a form to fill out private and business information. wait for the ministry for further instructions and disbursement on what to do about your applications. Please, this Programme is not online and it is totally free!
Requirements
1. Voters card or national card or driver’s license
2. Bank Verification Number (BVN)
3. CAC Registration Documents
4. Tax Identification Number (TIN)