Reason To Setup Business Before Disbursement of Nexit Loan

Are you one of the exited Npower Beneficiary expecting the Nexit Loan? If ‘yes’, then you need to read through this post, as we give reasons to setup a business before disbursement of Nexit Loan. The Nexit loan disbursement is something the applicants of Nexit has being expecting for some time now.

According to the Minister of Humanitarian Affairs Sadiya U. Farouq, the funds coming from the Nexit Loan aren’t grant but loan. This means that the disbursed amount will be paid back, after a stipulated time.

The Minister advised Batch A and B volunteers to set up a business while they wait for the loan disbursement.

Some applicants of the Nexit loan think that the funds that will be disbursed by CBN is a grant. Well, it isn’t a grant but a loan, so for you to be able to utilize the funds and payback, you should run a business.

The primary purpose of the Nexit loan is to ensure that funds are available for the exited Npower beneficiaries to setup their own firms. This will not only make them able to pay back but become employers of manpower. Read also: Exact Kickoff Date For The Nexit Program

Therefore, applicants should think of how to make profit from the loan gotten instead of planning on how to lavish it, and have issues in paying back.

The possibility of Exited Npower volunteers to be considered a transition package into any government ministry/job placement is uncertain. It’s only the management of the scheme that can tell if government jobs will be part of the transition package.

For the main time, all Nexit applicants are to patiently wait for the next move regarding the disbursement Nexit loan. And consider, the reason to setup business or businesses which they will invest the funds into.

You can get more information and update regarding the scheme by visiting the official FMHDS webpage here.

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Source: Nyscinfo

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