List of Federal Government Interest-free Loans for 2023/2024

The Federal Government Interest-free Loans is a type of loan the government of Nigeria, through the Central Bank of Nigeria (CBN) gives to Nigerian citizens to start up a business where no interest is charged on the borrowed amount. It means that the borrower is not required to pay any additional amount beyond the principal borrowed, making it different from a loan with interest.

Therefore, if you need a loan to start a small business in Nigeria, you can follow the guide below to apply for the loan that best fit your interests.

Apply: Federal Govt Interest-free loan

The category of people that can benefit from these government interest-free loans are:

  • Youths with business ideas
  • Farmers
  • Businessmen/women
  • households

Keep in mind that some loans below are interest-free while some are of very low-interest rate.

List of Federal Government Loans in 2023

Below is the list of federal government loans:

1. Central Bank of Nigeria (CBN) NIRSAL COVID-19 Loan

This is a government loan opportunity through CBN aimed at helping business owners and households in Nigeria to recover from the economic challenges caused by COVID-19 pandemic. Apply for this loan at

2. NYSC CBN Loan

This loan has been in existing for a while. It’s a loan initiative for ex-corps members and corps members to enable them to start up a business so they won’t depend on white-collar job after their service year. Apply at

3. Nexit Loan

This is the Federal government loan for exited N-power beneficiaries. Through this scheme, the Central Bank of Nigeria (CBN) disburse funds to exited volunteers of the Npower program who applied via the Nexit portal.


The Agric, Small and Medium Enterprise Scheme is an initiative of the Central Bank of Nigeria to help agricultural related businesses in Nigeria. To apply for this loan, see here.

5. Npower GEEP loan

This loan was created for the outgoing N-power batch A and B beneficiaries to start up a business so they won’t go back to the street. Apply at or click here.

6. NHF loan from Federal Mortgage Bank of Nigeria

The National Housing Fund (NHF) loan is a federal government initiative to facilitate the provision of affordable housing for Nigerians. CIick here for details on how to apply for this loan.

7. TraderMoni Loan

This free interest loan from the Federal government through the Government Enterprise and Empowerment Programme (GEEP), was created specifically for Nigerian petty traders and artisans. CIick here to apply.

8. FarmerMoni loan

The Federal government in a bid to support and encourage petty farmers created this loan. This loan initiative is under the Government Enterprise and Empowerment Programme (GEEP). You can apply via Bank of Industry website at

9. MarketMoni loan

MarketMoni is a part GEEP. It is a federal government loan initiative created to offer financial help to business men and women. This loan is very similar to TraderMoni loan. You can apply for this loan at .

10. NYIF Loan

The Nigeria Youth Investment Fund (NYIF) is a loan initiative from the federal government to finance the business ideas of our youths on order to reduce the rate of unemployment in the country. To apply for NYIF Loan, CIick Here.


  1. Please sir I need a loan to start up support my business like#900,000 up words please i need help and you need to help me sir thank for your understanding

  2. Please sir I need a loan to start up support my business please i need help and you need to help me sir thank for your understanding

  3. Please sir/ma
    I’m an experienced barber seriously in need of a loan to start up my own shop. #700,000 is enough to start this bussiness but I’m finding it difficult to get a loan. Honestly I’ll be grateful if I’m considered. God bless you.

  4. Good day Sir/Ma.
    Please I want to collect loan for my work, am a video editing and coevr event, i want sun of #500,000. Please how can I get it and how to pay it back. I will glady to hear from you.

  5. Please I need a help of loan to start up my food production which I was trained, i have my pharmacy technician permit to place on

      • With due respect sir/Ma,i am musa Abubakar Awodi. please i need a sum of 500,000 to start up farming project. iam from Kogi State,Omala LG. pls iam ready to pay back 5 tones of soyabeans every season.and i dont mine to use my B.Sc certificate or a plot of land as collateral.
        I graduated with Second class upper( B.Sc Economics)

  6. What about those that were trained October 3rd and 4th 2019 at P T I conference center. We have submitted all needed documents since the month of December 2019. The certificate they gave us is called,SMEDAN by federal Republic of Nigeria.

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