The Central Bank of Nigeria(CBN) has announced to empower graduates and undergraduates in Nigeria with N500m grant in agribusiness, information technology and creative industry.
The apex bank said agribusiness would include production, processing, storage and logistics, while information technology would include application/software development, business process outsourcing, robotics and data management.
It said the creative industry would include entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics; while science and technology would include medical innovation, robotics, ticketing systems, traffic systems, renewable energy, and waste management.
The interest rate will be five per cent per annum and nine per cent effective from March 1, 2022 or as may be prescribed by the CBN, TOS NEWS has gathered.
The bank said beneficiary are advised to apply on the dedicated online portal and provide all requisite documentation to support the application, adding that priority would be given to innovative entrepreneurial activities with high potential for export, job creation and transformational impact.