CBN Introduces N500M Grants for Graduates, Undergraduates – In a bid to reduce unemployment, the Central Bank of Nigeria has developed grants for graduates and Undergraduates.
Tertiary Institutions Entrepreneurship Scheme (TIES), in partnership with Nigerian polytechnics and universities to harness the potential of graduate entrepreneurs (gradpreneurs) in Nigeria.
CBN stated that “the Scheme is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white-collar jobs to a culture of entrepreneurship development for economic development and job creation.”
READ – Central Bank of Nigeria (CBN) Agri-Business/ MSME Investment Scheme (AGSMEIS)
Regarding the grant, the CBN would distribute N500million among the top 5 tertiary institutions with the best pitch.
CBN said, “Five top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas shall be awarded as follows: first place – N150m; second place – N120m; third place – N100m; fourth place – N80m; and fifth place – N50m,”
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it, ”shall constitute a Body of Experts (BoE) from the private and public sector for the biennial regional and national entrepreneurship competitions to evaluate entrepreneurial and technological innovations submitted by Nigerian polytechnics and universities. The Body of Experts (BoE) shall recommend projects with high potential and transformational impact for the grant award.”
Applicants under the Scheme shall be graduates of Nigerian polytechnics and universities with:
iii. Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and
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