By Nneka Nwogwugwu
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced the commencement of applications for its ₦5 billion grant targeted at student entrepreneurs across tertiary institutions in Nigeria.
Disbursement of the grant will begin in the North-West geopolitical zone, with timelines for other zones to be announced later. By starting in the North-West, the initiative aims to address regional disparities and promote inclusive economic development.
This effort aligns with the Federal Government’s ongoing commitment to empower Nigerian youths and stimulate economic growth through entrepreneurship.
Funding Information
The ₦5 billion grant is designed to provide financial support to students with viable business ideas—helping them launch startups or expand existing ventures
Application Process
Eligible students are encouraged to apply via SMEDAN’s official platform.
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Applicants must submit a detailed business plan that outlines the potential impact of their proposed venture.
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Selected applicants will receive grants to support their entrepreneurial activities.
Benefits of the Grant
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Financial Empowerment: Provides students with the capital needed to start or scale their businesses.
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Skill Development: Encourages the acquisition of entrepreneurial and practical business skills.
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Economic Growth: Stimulates local economies through the support of small businesses and job creation.
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Innovation Promotion: Cultivates a culture of creativity and problem-solving among Nigerian youth.
How to Apply
For more information and application guidelines, students should visit the Federal Ministry of Youth Development’s website or SMEDAN’s official website to begin application
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched a ₦5 billion grant program to support student entrepreneurs in Nigerian tertiary institutions. Initially, the disbursement of grants will commence in the North-West region, with plans to extend to other regions to address economic disparities. This initiative aligns with the Federal Government's goal to empower youth and stimulate economic progress through entrepreneurship.
Eligible students can apply for the grant via SMEDAN's platform by submitting a comprehensive business plan detailing the potential impact of their venture. Successful candidates will receive funding to initiate or expand their businesses. The benefits of the grant include financial empowerment, skill development, economic growth through job creation, and fostering innovation and problem-solving skills among the youth.
For further details on the application process and guidelines, students should visit the websites of the Federal Ministry of Youth Development or SMEDAN.
