Tag Archives: Loan Scheme

LSETF N25Bn Loan Scheme: First batch of beneficiaries receive disbursement letters

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The Lagos State Employment Trust Fund (LSETF) has now reached an advanced stage in the selection of a minimum of 1,000 beneficiaries in the pilot stage of its loan scheme.

The Fund launched a pilot of its much awaited loan schemes to support businesses in Lagos earlier in the month by sourcing applications from organizations like Fate Foundation, LEAP Africa, Nigerian Association of Small Scale Industrialists (NASSI), Women in Management, Business & Public Service (WIMBIZ), National Automobile Technicians Association (NATA) and the general public.

In addition, the Fund also partnered with successful technology businesses like Paga, Konga and Max.ng, in addition to sourcing applications via its social media platforms. These applications were evaluated by the globally recognized consulting firm, to ensure the integrity of the process. The first batch of beneficiaries have now been selected and has begun receiving their offer letters from December 22nd 2016.

Commenting on the ongoing pilot process, LSETF’s Executive Secretary, Mr. Akin Oyebode said, “it is critical for us to test our processes ahead of a full roll out next year. This will ensure we identify any flaws in our process and fix them before a full launch across the state. We are also in the process of setting up liaison offices in 20 LGAs, to bring the Fund’s activities closer to the people, and increase our points of representation to serve Lagos residents.”

The Fund is poised to provide support to at least 100,000 MSMEs; create at least 300,000 direct and up to 600,000 indirect jobs within the next 3 years. In addition, LSETF will also provide training and job placements for the unemployed; training and mentorship for SME owners; and make policy recommendations to improve the business environment in Lagos State.

Once the pilot phase is completed and reviewed, LSETF will roll out the loan schemes across Lagos State. This will be complemented with stakeholder sessions across 20 LGAs, where LSETF staff will educate applicants on the application process, and the eligibility criteria for its various schemes.

See Photos Of Buhari At CBN Loan Scheme For Rice Farmers In Kebbi

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President Buhari launched an Anchor Borrowers Programme for rice and wheat farmers to advance their status from small holder farmers to commercial or large growers.

Buhari’s official photographer shares these photos from the event on Instagram. See posts below:

https://instagram.com/p/-MZaxhuu0F/?taken-by=bayoomoboriowo

https://instagram.com/p/-MZD1kuuzX/?taken-by=bayoomoboriowo

Buhari Launches CBN Rice Farmers Loan Scheme

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Nigeria has launched an Anchor Borrowers Programme for rice and wheat farmers to advance their status from small holder farmers to commercial or large growers.

At the launch of the programme in Kebbi State on Tuesday, President Muhammadu Buhari expressed optimism that the CBN Anchor Borrowers Programme had a potential of creating millions of jobs and lifting thousands of small holder farmers out of poverty.

Under the programme, the Central Bank of Nigeria (CBN) is setting aside 40 billion Naira out the 220 billion Naira Micro, Small and Medium Enterprise Development Fund to be given to farmers at single digit interest rate of maximum nine per cent per annum.

President Buhari told the gathering of farmers and some Governors of rice and wheat producing states in Nigeria that the Federal Government would favour the programme because it squarely aligned with the government’s aspiration to achieve food security for Nigeria.

Credit: ChannelsTV