Nigerians To Get ₦5m Loan Under New CBN Graduates’ Scheme

As part of its efforts to address the surging unemployment and its devastating multiple effects on the country, the Central Bank of Nigeria (CBN) says it will soon commence its fresh initiative that will see graduates get as much as ₦5 million in loans.

Speaking at the launch of the Tertiary Institutions Entrepreneurship Scheme on Friday in Abuja, the apex Bank governor, Godwin Emefiele, disclosed that the scheme is the brainchild of collaboration between CBN and Nigerian universities and polytechnics.

Emefiele said the loans will range from N4.1m to N5m to graduates who applied and were Selected. He noted that the scheme is geared towards changing the orientation of graduates from searching for scarce white-collar jobs to imbibing entrepreneurial spirit that will led job opportunities.

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“The scheme, developed in partnership w ith Nigerian polytechnics and universities, is designed to harness the potentials of graduate entrepreneurs by creating a paradigm shift from the pursuit of white-collar jobs to a culture of entrepreneurship for economic development and job creation,” he said.

Emefiele asserted that it is very important for government at all levels to promulgate policy measures that aid entrepreneurial development among youths in order to tackle the lack of adequate employment opportunities