National Enterprise Development Programme (NEDEP) 2022/2023 Loan Application For SMEs And Cooperatives 

Please check your E-mail inbox or spam to confirm.

The Micro, Small and Medium Enterprises (“MSME”) represent one of, if not the most important sector of our economy. It currently represents 96% of the businesses in Nigeria and contributes 75% of the National employment. Of the 17.2 million MSMEs in Nigeria, over 17 million are micro-enterprises. Thus, growth in this sector is directly correlated with growth in the economy as a whole and the level of employment throughout Nigeria.

JOIN US FOR MORE ON:
or

There is no doubt that a nurtured and well structured MSMEs sub-sector can contribute significantly to employment generation, wealth creation, poverty reduction and sustainable economic growth and development in Nigeria. However, a number of challenges are inhibiting the potential of MSMEs in Nigeria. Prominent among these challenges are:

  • Very low access to affordable finance.
  • Poor access to Business Development Service (BDS), and
  • Inadequate infrastructure/high cost of doing business.

For example, a recent National Bureau of Statistics (NBS)/SMEDAN survey of MSMEs reported that 73.24% of the topmost priority of assistance needed by MSMEs’ operators is finance. In addition, only 4.2% of 17.2 million MSMEs have been able to access loans or overdrafts from financial institutions while new entrants or start-ups find it practically impossible to access funds from banks.

In order to address these challenges the “NATIONAL ENTERPRISE DEVELOPMENT PROGRAMME (NEDEP)” was initiated by the Honourable Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, CON. The programme, which is aimed at generating an estimated 5.0 million direct and indirect jobs between 2013 and 2015, is focusing on Skills Acquisition, Entrepreneurship Training/Business Development Service (BDS) and Access to Finance.

SEE ALSO: 5 Reasons Why You Should Consider A Personal Loan

The entrepreneurship training/business development service component is being implemented under the One Local Government One Product (OLOP) platform while the access to finance component is being handled by the Bank of Industry (BOI) and the skills acquired by the Industrial Training Fund (ITF).

The NEDEP, which is being coordinated by the Small and Medium Enterprises Development Agency of Nigeria (“SMEDAN”) is guided by empirical research based on experiences of successful similar enterprise development initiatives in Africa and Asia and the OLOP pilot projects in Kano and Niger States.

2. Benefits/Potentials of NEDEP

  1. It is aimed at generating an estimated 5.0 million direct and indirect jobs between 2013 and 2015.
  2. It will revitalize the rural economy, improve employment opportunities, create wealth and alleviate poverty in rural areas in     Nigeria. This will be done through the establishment of sustainable MSMEs in the 774 Local Government Areas (LGAs) based on comparative and competitive advantages.
  3. Entrenchment of entrepreneurial culture, industrialization of rural areas, enhanced industrial cluster development, increased MSMEs contribution to GDP, increased export potentials, etc.
  4. Elimination of youth restiveness, militancy and other social vices (e.g. kidnapping, extremists’ insurgence like Boko haram, prostitution, armed robbery, drug abuse, thuggery, etc).
  5. The entrenchment of the social security system in Nigeria.

3. Attributes of NEDEP

  1. Delivery by 3 Agencies (SMEDAN, ITF, BOI)
  2. Formation and registration of Cooperative Societies
  3. National and State Council on MSMEs
  4. Restructuring of implementing Agencies (SMEDAN, BOI, ITF)
  5. Implementation of the One Local Government One Product      (OLOP) programme.
  6. Development of One Product for Export in each State
  7. Upgrading of Industrial Development Centres (IDCs) to MSMEs   Clusters
  8. Provision of Common Facilities & Services
  9. Continuous Engagement, Monitoring & Reporting System
SEE ALSO: 5 Common Loan Mistakes Business Owners Make

4. Implementation strategies

  1. Sensitization and needs assessment
  2. Selection of products
  3. Baseline surveys and value chain analysis
  4. Formation and registration of cooperative societies
  5. Development of business plans by cooperative societies
  6. Assessment of business plans and provision of finance
  7. Access to markets
  8. Access to equipment/machines
  9. Entrepreneurship training
  10. Vocational skills training
  11. Delivery of Business Development Service (BDS)
  12. Monitoring and evaluation (impact assessment)

5. Current activity

  • Formation and registration of cooperative societies
  • Collection of business plans from cooperative societies across the country.

How To Apply

For more information, please click here

Please click to Download the Guideline and criteria for accessing NEDEP Loan

Cooperative Questionnaire-checklist (Repaired) Guidelines & Criteria

Stand-alone Questionnaire-checklist  Guideline & Criteria

 

NOW FREE: Telegram SuperGroup Sales Formula: How to use Telegram to Sell Digital Courses



DISCLAIMER: Do not pay or release sensitive financial details to any organizer/recruiter unless futher verified from your end.
Easter Hunt Sale
Easter Sale
Sam Rantimi

About the Author: Sam Oluwarantimi

Interpersonal Communication Specialist & Graduate (Biology), Obafemi Awolowo University. Join me on Twitter.

Got a question/Suggestion? Let's talk!

LATEST OPPORTUNITIES:

🕛 Oct 03, 2022
2023 Getty Foundation Pre- and Postdoctoral Fellowships Program
in Fellowships | for Post Graduates

🕛 Oct 03, 2022
Apply: Getty Foundation 2022 Scholar Grants
in Grants & Fundings | for Post Graduates

🕛 Oct 03, 2022
European Patent Office(EPO) Young Inventors Prize 2023
in Awards & Prizes | for Everyone

🕛 Oct 03, 2022
Herbert Scoville Jr. Peace Fellowship 2022 (Fully-funded)
in Fellowships | for Graduates

🕛 Oct 03, 2022
Nigeria Solidarity Support Fund (NSSF) 2022 Graduate Internship
in Internships / Graduate Trainee Progs. | for Graduates

🕛 Oct 04, 2022
2022 Youth Adaptation Solutions (YouthADAPT) Challenge for African Entrepreneurs
in Grants & Fundings | for Africans

🕛 Oct 05, 2022
2022 Graduate Trainee Programme at The Place
in Internships / Graduate Trainee Progs. | for Graduates

🕛 Oct 05, 2022
2023 GBHI Atlantic Fellows for Equity in Brain Health Programme
in Fellowships | for Professionals

🕛 Oct 05, 2022
Google for Africa Small & Medium Businesses Masterclass 2022
in Trainings and Workshops | for Entrepreneurs

🕛 Oct 05, 2022
Nimbus Media Aid Project for MSMEs 2022 (Win N2M Free Advertising)
in Grants & Fundings | for Entrepreneurs

1 2 3 4 5 6 7 8 9 10 11 12