NEXIT Loan Update: Online Training/ Email Notification Starts Soon

According to the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, the training would commence next month.

All is set for the Federal Government to commence the Npower Nexit Programme as over 390,000 ex-volunteers have been captured for Nexit, FG confirmed

See 2021 FRSC Salary Structure For BSC/HND/OND/NCE/SSCE Holders

Batch A and B will officially be transformed into entrepreneurs and other meaningful economic ventures, in line with FG plans to lift 100M Nigerians out of poverty

“She disclosed these on Wednesday while speaking at the Chatham House on social development and humanitarian challenges facing Nigeria, and the government’s responses to the ongoing humanitarian and food crises in the country.

See Approved Nigerian Police Salary Structure For BSC/HND/ND/NCE/SSCE

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 “The exited volunteers have been put on a programme with the Central Bank of Nigeria in partnership with the ministry to prepare an exit package for them and we have gone very far in this regard.”

Batch A and B volunteers will start receiving Emails congratulating and preparing them for the training which would be online, over 500,000 would be trained before funds would be disbursed

No one knows how long the training would last, but all training would be concluded within 2021 and funds would be released to volunteers. In no distant time, volunteers start receiving email notifications as to when and how the online training would be

See more details HERE

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NExit CBN Loan

The Federal Government has not approved money for the programme, funds will be approved regarding this within a shortest possible time  

How to Qualify?

  • It is meant to cater to the investment needs of  over 500,000 Batch A and B of the Npower Programme .
  • Only batch A and B disengaged volunteers can Apply

Who funds it?

  • The Fderal Government through the Ministry of Finance, Budget, and National Planning (MFBNP)
  • The Central Bank of Nigeria (CBN) will provide the financing to kick-start the NExit Loan package

Disbursement

It would be disbursed through various channels like

  • Micro Credit Organizations across the country under the Central Bank of Nigeria supported
  •  Bank of Industry
  • Nirsal MicroFinance Bank
  • Fintech Organizations and
  • Venture Capital Organizations registered with the CBN.

How to access loan

  • Must be a citizen of Nigeria
  • Present recognized means of identification and guarantors.
  • Beneficiaries are expected to have a fundable business idea.

Loan range

The Loan, whose aim is to meet over 500, 000 youths; ranges from N450, 000 to N5M

Why it is different

This is different from other poverty elevation schemes like Covid-19 Laon, NYIF, Survival Fund, Nigeria Jubilee Fellows Programme, etc, because, it will provide a single-window of Investment Fund for the youth thereby creating a common bucket for all Nigerian youth to access Government support.

Providing less cumbersome access to credit and finance for the average Nigerian youth and help lift thousands of the youth out of poverty and birth a whole generation of entrepreneurs

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