NEXIT Applicants May Receive CBN Loan Based on Category

No doubt that the disbursement of fund for the CBN empowerment program NEXIT will kick start soon, and for this reason, we have pictured the method of disbursement that might be used by the scheme.

NEXIT ApplicantsThose that have registered successfully for the NEXIT program will testify that there are several categories opened to each applicant to register. These categories will definitely determine the amount of fund (loan), that will be disbursed to each applicant.

Below are the four (4) categories;

  • Exited Npower beneficiaries with a registered business.
  • Those with good business, but are yet to register the business under CAC.
  • Those without a business but have the intention to start up a business.
  • Applicants without the zeal of setting up a business but wishes to secure a white-collar job (government job).

With these different categories of applicants in the scheme, there is great tendency (based on prediction) that the scheme might have had a special disbursement plan that will make some category benefit more, in other to achieve their business plans.

Although, all applicants will benefit from the program as long as they follow the right steps, and are eligible.

But there are still possibilities that the amount each applicants on various categories will receive might vary because of the unknown criteria set-out by the empowerment scheme.

It is on record that out of the five thousand (500,000) beneficiaries of Npower program, one hundred and nine thousand (109,000) had already set up their businesses, and have workers under their payroll.

This very reason made the commencement of Nexit program a reality, as the government thinks it will help project such applicants to promote their businesses, and brings about improvement of the country’s economy.

It is therefore necessary to see the NEXIT program, as a welcoming idea from the FG that will elevate the youths to venture into businesses, and become employers of labour.

The ministry of Humanitarian Affairs as made it known also that applicants of the program will have access to CBN economic empowerment, and the entrepreneurship options i.e. AGSMEIS loan, the Anchor Borrowers Program, etc.

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