The Federal Government, through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), unveiled the GROW Fund in Abuja.
This initiative is a direct response to the “training-without-funding” trap that has historically limited the impact of youth empowerment schemes. It serves as a capital-training bridge, specifically designed to provide affordable, single-digit interest loans to entrepreneurs who have successfully completed the standardized ICSS curriculum.
1. The ICSS Framework: A Pathway to Funding
The Inspire, Create, Start and Scale (ICSS) curriculum was developed in partnership with the German Society for International Cooperation (GIZ) and the Kaduna Business School. It is structured to transform raw talent into “bankable” enterprises.
2. The GROW Fund: Funding the 6,122
Director-General of SMEDAN, Charles Odii, emphasized that the GROW Fund is not for casual hobbyists but for those who have proven their discipline through the ICSS journey.
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Primary Target: No fewer than 6,122 graduates of the ICSS program.
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Loan Tiers:
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START Loans: ₦250,000 to ₦2,000,000.
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SCALE Loans: ₦1,000,000 to ₦5,000,000.
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Interest Rate: Strictly single-digit (between 9% and 9.5%), facilitated through matching-fund partnerships with the Bank of Industry (BOI) and various state governments (including Enugu, Kaduna, and Zamfara).
3. Priority Sectors for Youth Transformation
The Minister of Youth Development, Ayodele Olawande, noted that while the fund is broad, the government is prioritizing four “hero sectors” that drive local production and digital connectivity:
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Agriculture & Agribusiness: Value-addition and agro-processing.
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Manufacturing: Small-scale production of essential consumer goods.
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Creative Industry: Fashion, film, and digital arts.
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Technology: Software development and digital service platforms.
4. Digital Accountability: The Nigerian Youth Academy
To ensure these programs reach real people and not “ghost beneficiaries,” the Ministry is launching a Nigerian Coursera through the Nigerian Youth Academy.
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Purpose: To provide a verifiable digital record of every training participant.
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Validation: Completion of courses on this platform will become a prerequisite for accessing future government interventions, ensuring digital accountability and measurable results.
“For 40 years, agencies have claimed to train ‘millions’ while the impact remained invisible. We are changing that. When training meets capital, the outcome isn’t just a certificate—it’s a business expansion and a job created.” — Ayodele Olawande, Minister of Youth Development.
