Top 20 Entrepreneurship Development Centres that you can do your AGSMEIS,  CBN, NIRSAL Loan Application Training.

Top 20 Entrepreneurship Development Centres that you can do your AGSMEIS,  CBN, NIRSAL  loan Application Training.

 

AGRIC SMALL MEDIUM ENTERPRISE SCHEME (AGSMEIS)

Access up to N10M at 5% per annum from the Agric, Small and medium enterprise scheme (AGSMEIS), an initiative from Central Bank of Nigeria (CBN).

 

What is AGSMEIS?

The Agri-Business/Small and Medium Enterprise Investment Scheme is an initiative to support the Federal Government’s efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) as vehicles for sustainable economic development and employment generation

Entrepreneurship Development Centres that you can do your AGSMEIS, CBN, NIRSAL loan Application Training.

Entrepreneurship Development Centres that you can do your AGSMEIS, CBN, NIRSAL loan Application Training.

ENTREPRENEURSHIP DEVELOPMENT CENTRES

 

As a complement to its microfinance policy and also to ensure the sustained supply of skilled entrepreneurs to take advantages available to Micro, Small and Medium Enterprises (MSMEs), the Central Bank of Nigeria [CBN] in 2006 initiated plans to support the efforts of the Small and Medium Enterprises Agency of Nigeria (SMEDAN), National Directorate of Employment (NDE), National Poverty Eradication Programme (NAPEP), Industrial Training Fund (ITF) etc by establishing or strengthening one Entrepreneurship Development Centre [EDC] in each of the six geo-political zones in Nigeria.

 

It placed advertisements in the Nigerian dailies of 11th to 13th September, 2006, calling for bidders that would be supported to foster private sector led, commercially oriented and sustainable entrepreneurship development programmes in the zones by establishing viable entrepreneurship development centres. This is to encourage private entrepreneurship, self employment, job creations, income growth, poverty eradication and economic development.

 

The EDCs that would target those with at least secondary education has the following specific objectives:

– To develop entrepreneurship spirit amongst Nigerians and provide insight into the tools, techniques and framework for managing all functional areas of business enterprise, including production, marketing, personnel and finance.

 

– To develop skills of would-be-entrepreneurs to successfully start, expand, diversify and manage business enterprises as well as link them with financial institutions for start up capital, especially the microfinance banks.

 

– To generate employment opportunities for Nigerians in pursuance of the provisions of the National Economic Empowerment and Development Strategy [NEEDS] and recently vision 2020.

 

– To raise a new class of entrepreneurs/owners, who can compete globally and succeed in managing MSMEs and provide the bridge for future industrialization of the country.

 

The Centres would be expected to provide physical structures, training materials, equipments, human resources and other facilities that would assure internationally competitive, effective and sustainable services capable of meeting the needs of MSMEs in the zones.

 

 The CBN would conceptually provide a significant part of the initial take off capital but each centre would, in addition, provide counterpart

funding and show evidence on how the Centre would be self financing over time.

 

The programme will commence with a pilot phase which will be implemented with effect from January, 2008 in three locations, Onitsha (South East), Kano (North) and Ota (South West). The pilot phase shall

be for a period of 18 months and evaluation shall be conducted on quarterly basis, with six monitoring and evaluation reports. The final report shall provide insight into the challenges faced and provide

recommendation for extending the programme to the remaining three geopolitical zones. The programme for the other three zones namely, North East, North Central and South South would commence at the end of the first year of the pilot. Thereafter the programme would run in the six zones concurrently.

 

To further explain, the objectives of the scheme are to:

  • Improve access of Agri-businesses, Micro, Small and Medium Enterprises (MSMEs) to affordable and sustainable financing.
  • Create more employment opportunities in the country, and
  • Boost the managerial capacity of agri-businesses and MSMEs to grow the enterprises into large corporate organizations in accordance with the Federal Government’s growth agenda.

What Types of Businesses Does The Scheme Cover?

The scheme covers businesses within these areas:

  • The agricultural value chain, covering production, inputs supply, storage, processing, logistics and marketing.
  • MSMEs in the real sector including manufacturing, mining and petrochemicals.
  • MSMEs in the service sector including information and communication technology (ICT) and the creative industry.

What Are the Procedures That Exists?

Financing under the Scheme is generally for start-ups, business expansion or revival of ailing companies and must be in compliance with provisions of BOFIA (1991) as amended The terms of the loans shall be as follows:

  • Loan limit: N10,000,000
  • Interest: 5% per annum
  • Tenor: Up to 7 years (depending on the nature/gestation period of the project)
  • Moratorium: Maximum of 18 months for principal and 6 months on interest.

What Are the Eligibility Criteria?

  • All interested applicant must have been trained by an Entrepreneur Development Institute (EDI)
  • All interested applicant will apply for loan via an EDI
  • The applications will then be sent to CBN for processing
  • All applicants will be called for an interview regarding his/her business.
  • Applicants who’ve qualified will be contacted and given the loan.
  • Fill clearly the new form with all the details required, sign and get them authenticated by EDC.

AGSMEIS LOAN SCHEME THROUGH CBN EDIs Documentation Requirements

For Micro, Small and Medium Enterprises:

  • Your duly completed application form
  • Your bank Verification Number (BVN)
  • Your certificate of Training from recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized private sector association. e.g of EDI, Lagos Business School, House of Tara, Fate Foundation, Thrive Agric etc to access the loan.
  • A Letter of Introduction from any of the following: Clergy, Village Head, District Head, Traditional Ruler, senior civil servant, etc. (for individuals/micro enterprises only).
  • An evidence of registration of business name or certificate of incorporation and filing of annual returns (where applicable) in compliance with the provisions of the Companies and Allied Matters Act (1990).
  • Your tax Identification Number (TIN) and current Tax Clearance Certificate (TCC) Where applicable

What Is the Application Process

For Micro, Small and Medium Enterprises:

  • Enrol with a CBN certified EDI for a one-week training
  • Eligible applicants shall pick-up and submit a completed application form to the EDIs
  • The EDI shall collate, appraise and submit applications to CBN.
  • CBN shall consider the application and invite applicants for interviews
  • Upon approval, CBN shall approve the loan and disburse to necessary vendors as applicable

 

Read Also: Nirsal-microfinance-bank-nmfb-branches-in-nigeria-to-access-covid-19-loans-and-other-loans-in-Nigeria

 

 

Details of CBN EDC (Entrepreneurial Development Centres)

The CBN EDC (Entrepreneurial Development Centres) in Nigeria are built to provide, training materials, equipment, human resources and other facilities that would assure internationally competitive, effective and sustainable services capable of meeting the needs of MSMEs in the country.

The CBN’s drive to ensure economic sustainability in tandem with the Federal Government’s initiative has led to the creation of a collateral-free loan for small businesses. Read all about it and find it if you’re eligible to apply.

This is to encourage private entrepreneurship, self-employment, job creations, income growth, poverty eradication and economic development.

The CBN Entrepreneurship Development Centres targets those with at least secondary education.

Below is the list of CBN Entrepreneurship Development Centres in Nigeria and their addresses :

1. CBN-EDC, Ibadan (South West)

Website: www.edcsouthwest.org

Address: Old SDSTC (Oyo Oodua Skill Acquisition Centre Premises),

Samonda, along Sango-UI Road,

Ibadan, Oyo State, Nigeria.

 

2. CBN-EDC, PortHarcourt (South South)

Website: www.ssedc.org

30 Trans-Woji road, Grace plaza, by Slaughter Bridge Woji Town,

Port Harcourt, Rivers State

 

3. CBN-EDC, Maiduguri (North East)

website : edcnortheast.com.ng

Address: Old Informatics Institute, Njimtillo, Kano Road,

Maiduguri, Borno State

 

4. CBN Entrepreneurship Development Centres , Kano (North West)

Address: Murtala Muhammed Library Complex,

Kano, Kano State

 

5. CBN Entrepreneurship Development Centres , Makurdi (North Central)

Off Jonah Jang Crescent,

Near Federal Secretariat,

Makurdi, Benue State.

 

6. CBN Entrepreneurship Development Centres , Minna (North Central)

Address: Minna Innovation Institute,

Behind Niger State Sharia Commission,

Justice Ndajiwo Drive,

Minna, Niger State.

 

7. CBN Entrepreneurship Development Centres , Enugu (South East)

Address: Ebenezer Villa Suite

8, Ogenyi Close, Off Cornerstone Avenue

Off Nike Lake Resort Road,

Enugu, Enugu State.

You can get more contact addresses of Entrepreneurship development centres in Nigeria – https://www.boi.ng/edcpartners/

 

8.  Centre for Entrepreneurial Development

website : www.cedl.org

36, Murtala Mohammed International

Airport Road, Lagos.

 

9.    Ideas Centre

 60 Erinwole Awolesi Road, GRA Sagamu

Ogun state

 

To be Continued….

 

Read Also: How-to-Access-up-to-N25-million-CBN-covid-19-loan-in-Nigeria

 

References:

http://know.ng/details-of-cbn-edc-entrepreneurial-development-centres/

http://know.ng/central-bank-nigerias-collateral-free-loan-for-small-businesses/

https://nmfb.com.ng/

Dayo Adetiloye Business Hub
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5 Comments

  2. chapatti

    that’s my mentor. thanks alot for always leading with example. you have changed the mindset of many with your business knowledge

    June 18, 2020
  3. Pascal Opara

    Why are you guys always crapping about?
    A simple question: where are the EDIs located? How does get access to a list of EDIs

    November 2, 2020
    • Dayo Adetiloye

      Based on our research, this is the list we have for now. if you have the list or you know some centres, please put it at the comment session below.

      November 2, 2020
  4. james Amadi

    misleading information on CBN EDC South South. there is no center in Portharcourt. the CBN EDC for South South is in Calabar. I did my program there just last week

    May 21, 2021
    • Dayo Adetiloye Business Hub

      Thanks James: Please send us the correct address so that we can update our information.

      Also if you have addresses of various centers that are not here, please send them here.

      let’s help to grow the community.

      May 21, 2021

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