NIPC ₦155,000 Support Funding for Graduates with 1-2 Years Working Experience Has Commenced

The Nigerian Investment Promotion Commission (NIPC) has announced the commencement of the ₦155,000 support funding for graduates with 1-2 years of working experience. The funding is aimed at empowering young Nigerians who are seeking to start their own businesses or grow their existing businesses. This initiative is part of the Federal Government’s efforts to reduce unemployment and promote entrepreneurship in the country.

The funding will be provided through the NIPC’s Youth Entrepreneurship Support (YES) program, which is a component of the National Industrial Revolution Plan (NIRP). The YES program is designed to provide financial and non-financial support to young entrepreneurs in Nigeria.

To be eligible for the funding, applicants must be Nigerian citizens between the ages of 18 and 35 years old. They must have a minimum of a Bachelor’s degree or its equivalent from a recognized institution and have completed the National Youth Service Corps (NYSC) program. Additionally, they must have 1-2 years of working experience and have a viable business idea that is capable of creating employment opportunities.

Applicants are required to submit their business proposals to the NIPC for evaluation. The proposals will be assessed based on their viability, scalability, and potential to create employment opportunities. Successful applicants will receive the ₦155,000 support funding, which can be used to kick-start their businesses or scale-up their existing businesses.

In addition to the financial support, the YES program will also provide non-financial support such as business development training, mentorship, and access to market information. This is aimed at equipping young entrepreneurs with the necessary skills and knowledge needed to run successful businesses.

The NIPC has stated that the support funding is just the beginning of the Federal Government’s efforts to promote entrepreneurship and reduce unemployment in the country. The commission has also encouraged young Nigerians to take advantage of the YES program and other government initiatives aimed at empowering young entrepreneurs.