Serving members of the National Youth Service Corps (NYSC) can now access affordable business funding through the NYSC–BOI Loan Scheme; a joint initiative between the NYSC and the Bank of Industry (BOI).
This program is designed to help young Nigerian graduates bring their business ideas to life or expand existing ventures. If you’re a Corps Member interested in entrepreneurship, here’s a complete breakdown of how the NYSC–BOI Loan works, who’s eligible, and how to apply.
Eligibility Requirements
To qualify for the NYSC–BOI Loan, you must meet the following conditions:
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NYSC SAED Endorsement
All applications must be submitted through the official NYSC Skills Acquisition and Entrepreneurship Development (SAED) unit at the State, Zonal, or National HQ level. -
Active Participation in SAED Training
You must have participated in SAED training during camp or post-camp and have completed at least three (3) months of active service. -
Recognized Entrepreneurship Certification
Applicants must upload proof of entrepreneurship or financial literacy training from credible organizations such as SMEDAN, BOI, or other approved NYSC partners.
How to Apply for the NYSC–BOI Loan
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Visit the official NYSC SAED portal via this link:
🔗 https://portal.nysc.org.ng/nysc1/ResumePayment.aspx -
Log in to your NYSC Dashboard and click SAED Registration to begin your application.
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Upload a detailed business plan (PDF format) before submitting your form.
Your business plan should highlight:-
Profitability and sustainability
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Scalability and job creation potential
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Approved Business Sectors
Your proposed business must fall within the Bank of Industry’s approved sectors, such as:
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Agro-processing
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Manufacturing
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ICT and Digital Services
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Fashion and Creative Industry
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Renewable Energy
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General Services
Regulatory Compliance
All applicants are required to meet basic business registration and compliance standards, including:
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CAC registration
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Tax identification and compliance
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NAFDAC or SON certification (if applicable)
Loan Features and Repayment Terms
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Collateral: Your NYSC Discharge Certificate will serve as collateral.
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Guarantor: One guarantor is required to support your loan application.
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Moratorium: Enjoy a three-month grace period before repayment begins.
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Monitoring: Post-loan monitoring will be carried out to ensure proper fund utilization.
Why You Should Apply
The NYSC–BOI Loan offers a unique chance for Corps Members to turn their ideas into profitable, sustainable businesses. By completing SAED training and following the loan guidelines, you can achieve financial independence while contributing to Nigeria’s economic growth.
If you’re ready to build a career in entrepreneurship, this is your opportunity to turn your NYSC year into a stepping stone for success.