{"id":87337,"date":"2021-10-21T14:03:07","date_gmt":"2021-10-21T13:03:07","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=87337"},"modified":"2021-10-21T14:03:07","modified_gmt":"2021-10-21T13:03:07","slug":"cbn-announces-over-n500m-grant-for-undergraduates-graduates","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/cbn-announces-over-n500m-grant-for-undergraduates-graduates\/","title":{"rendered":"CBN Announces Over N500m Grant For Undergraduates, Graduates"},"content":{"rendered":"
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The Central Bank of Nigeria has said it will support youths in tertiary institutions with grants to promote entrepreneurship and reduce unemployment.<\/div>\n
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The CBN disclosed this in a report, titled \u2018Guidelines for the implementation of tertiary institutions entrepreneurship scheme\u2019.<\/p>\n

\u201cFive top Nigerian polytechnics and universities with the best entrepreneurial pitches\/ideas shall be awarded as follows: first place \u2013 N150m; second place \u2013 N120m; third place \u2013 N100m; fourth place \u2013 N80m; and fifth place \u2013 N50m,\u201d it said.<\/p>\n

It added that activities to be covered under the scheme would include innovative start-ups and existing businesses owned by graduates of Nigerian polytechnics and universities in areas such as agribusiness, information technology, creative industry, as well as science and technology.<\/p>\n

The CBN said agribusiness would include production, processing, storage and logistics, while information technology would include application\/software development, business process outsourcing, robotics and data management.<\/p>\n

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.<\/p>\n

According to the report, 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.<\/p>\n

The beneficiary must apply on the dedicated online portal and provide all requisite documentation to support the application, the CBN said.<\/p>\n

It noted that priority would be given to innovative entrepreneurial activities with high potential for export, job creation and transformational impact.<\/p>\n

<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria has said it will support youths in tertiary institutions with grants to promote entrepreneurship and reduce unemployment. 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