Rapid Economic Recovery Fund (REREF) 2022/2023 | rerefnigeria.ng

Rapid Economic Recovery Fund (REREF) 2022/2023 | rerefnigeria.ng

Rapid Economic Recovery Fund (REREF) 2022/2023 | rerefnigeria.ng: When you apply for Nigeria’s Rapid Economic Recovery Fund (REREF), you will be empowered with a loan that will transform your business into a sustainable business, capable of employing others  

For clarity, the Rapid Economic Recovery Fund (REREF) is the response to Nigeria’s poverty reduction and growth challenges. The goal of the Rapid Economic Recovery Fund is to make a fundamental break, recover and stabilize Nigeria’s economy through small and medium-scale enterprises.

As Nigeria’s Poverty Reduction Strategy, REREF builds on the earlier efforts to produce the interim Poverty Reduction Strategy and its comprehensive consultative processes.

Benefits of Rapid Economic Recovery Fund (REREF)

It will reduce poverty and increases wealth among poor Nigerians  in a long run

It promotes business development

It creates a system of incentives to bring to life 15000 businesses and empower the people to take advantage of the opportunities.

Requirement for Rapid Economic Recovery Fund (REREF)

1. Entrepreneurship Training

2. Business Plan

3. Application Form

4. Verifiable Address

5. Guarantor

Application Procedure

1. If you have an existing Entrepreneurship Certificate from CBN Certified EDC or EDI forward it to contactus@rerefnigeria.ng (REREF will assign a new “Entrepreneurship Certificate Number” acceptable on REREF Application Portal) otherwise you must go through Entrepreneurship Training.

Note:

Rapid Economic Recovery Fund has made it easy for applicants without valid Entrepreneurship Certificates by partnering with two EDCs to provide Entrepreneurship Training and Business plans at a subsidized rate.

3. To register for Entrepreneurship Training, “Start Application” select Entrepreneurship Development Centre (EDC) and training category of your choice, download and print the Entrepreneurship Training Request Form, complete it neatly and make payment for the training, forward the Entrepreneurship Training Request Form and Evidence of Payment via email to the select Entrepreneurship Development Centre as instructed on the form.

4. On receipt of “Entrepreneurship Certificate Number” visit www.rerefnigeria.ng and “Start Application” input Entrepreneurship Certificate Number and Validate.

5. Complete the Application Form and Submit it.

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Loan Specifications

Business Startup:

N500,000 – N3,000,000

Business Expansion:

N500,000 – N5,000,000

Loan Duration:

3 Years + 3 Months Moratorium

Interest Rate:

 9 Percent

Application Limit:

15000 Small and Medium Scale Enterprises.

Certified EDCs

REREF Certified Entrepreneurship Development Centres (EDCs) are:

1. Potential Learning (RBL2022PL/R01)

2. Ampiro Schools (RBL2022AS/R02)

Subsidized Entrepreneurship Training Fees

1. Entrepreneurship Training Only: N8500

2. Entrepreneurship Training + Business Plan: N13500

Note:

Do not pay for Business Plan if you intend to develop it yourself.

Progress Timetable

Application Portal Opens:

12th September 2022

Batch ‘A’ Entrepreneurship Training Request Deadline:

18th November 2022

Entrepreneurship Training Notification:

25th – 30th November 2022

Entrepreneurship Training Nationwide:

5th – 15th December 2022

Submission of Application:

15th – 30th December 2022

Physical Interview Notification:

9th – 13th January 2023

Physical Interview Nationwide:

16th – 27th January 2023

APPLY HERE