How BOI Youth Entrepreneurship Support: YES-Programme Works

How BOI Youth Entrepreneurship Support: YES-Programme Works

If your are thinking about how to raise money for your business, here is how the BOI Youth Entrepreneurship Support: YES-Programme can befit you.

The Youth Entrepreneurship Support Programme (YES) is a Nigerian Bank of Industry project aimed to help young Nigerian become successful entrepreneurs.

YES is in the BOI’s effort at addressing the worrisome phenomenon of youth unemployment in Nigeria by building the capacity of the youths and funding their business ideas.

The YES-programme is aimed at equipping young people with the requisite skills and knowledge to be self-employed by starting and managing their own businesses.



How BOI Youth Entrepreneurship Support: YES-Programme Works

Participants will be drawn from young aspiring entrepreneurs between the ages of 18 and 35 years, with innovative ideas who must have a minimum educational qualification of an Ordinary National Diploma (OND).

National Youth Service Corps members that have gone through the NYSC’s Skills Acquisition and Entrepreneurship Development Programme (SAED) are also legible.



BOI Youth Entrepreneurship Support: YES-Programme Components

If you are interested in participating in this year’s YES-Programme, below is a list of the components or procedures:

  • Eight (8) weeks extensive online Entrepreneurship and Business Management training which has the ability to test participants’ understanding and track their progress.
  • Five (5) days in-class Entrepreneurship and Business Management training covering the following five (5) modules:
  • The business idea (value proposition & competition analysis)
  • Business model (how will the business make money)
  • Sales and marketing
  • Running a successful business (ethics, compliance, operations, etc.)
  • Financial plan
  • Technical skills training in partnership with the various technical training and vocational institutes in the country.
  • Financing of the businesses by BOI under its SME Cluster initiative in consonance with the United Nations Economic Commission for Africa’s Commodity-based Industrialisation Strategy.



BOI Youth Entrepreneurship Support: YES-Programme Objectives

The YES-Programme has the following broad objectives:

  • To create an interactive learning platform to train young aspiring entrepreneurs in Entrepreneurship, Business Management and Technical Skills that will ultimately translate into improved efficiency and productivity.
  • To kindle the entrepreneurial spirit of the youths.
  • To act as an incubation center where business ideas are nurtured to their full potential as well as entrenching global best practices by inculcating a culture of innovation-driven entrepreneurship and ethics in the programme participants.
  • Promotion of self-employment among graduates of institutions of higher learning, thereby changing their job-seeking mindset.
  • To deepen financial inclusion by de-risking the young aspiring entrepreneurs and making them eligible for small business loans to be provided by BOI.



Related: How SMEDAN Facilitates Easier Access to Funding MSMEs in Nigeria



YESProgramme Operational Framework

10,000 online applications will be solicited nationwide, out of which 2,000 would be selected for the online training component of the YES programme.

Applicants will register online and will be expected to provide accurate answers to questions.

Such answers count towards determining the suitability of the applicants for the training programme.

Only the top 1,200 online participants will qualify for the in-class training programme annually.

The in-class trainings will be delivered by BOI accredited partner Training Institutes and shall take place on a bi-annual basis at selected centres spread across the six geo-political zones.

Hence, 600 participants shall be trained at the designated locations bi-annually.

The final evaluation and selection of the candidates that will qualify for funding under the YES-Programme, will be by a seven-man panel made up of senior management staff of the Bank and other eminent members made up of successful entrepreneurs, professionals, retired bankers, etc.


BOI Youth Entrepreneurship Support: YES-Programme Partners

The YES specific areas of coverage are the 35 SME clusters contained in the Appendix I.

And this is achieved through collaboration with some SME-Friendly Commercial Banks and other partner organizations that facilitate the Entrepreneurship Capacity Building programme.


These YES-Programme Partners include:

  • Pan Atlantic University Enterprise Development Centre (PAU-EDC),
  • Kaduna Business School (KBS),
  • Leap Africa,
  • Prinsult Co. Ltd,
  • ValueCon Business Services,
  • VSL Consult Ltd,
  • Empretec Nigeria Foundation,
  • Fate Foundation and
  • AfterSchool Graduate Development Centre,
  • National Youth Service Corps (NYSC) and
  • other technical skills training institutions



YES-Programme Projected Impact

The fund shall be deployed to support the establishment and/or expansion of an estimated 5,000 enterprises promoted by Nigerian youths across the country.

The YES scheme is expected to create a minimum of 20,000 direct jobs and 30,000 indirect jobs annually, totaling 60,000 jobs.



BOI Youth Entrepreneurship Support: YES-Programme Parameters

Individual entrepreneurs can get up to N5 million for loan.

Equity investment could also be considered on a case-by-case basis, and in line with the Bank’s approval limit.

Interest Rate is: 9% per annum. With: 1% processing fee.

Loan Tenor is: 3 – 5 years.

Loan repayment method is monthly by direct payment into BOI’s account or by post-dated cheques.


Please get more info on how youth entrepreneurship support (yes) programme of boi can fund your business





How to register for BOI Youth Entrepreneurship Support: YES-Programme

Click here to register 


Comments (8)

  • Daramola Abidemi Reply

    Thanks for this. But I have an issue bothering me. The issue is that I have a land where I want to start my poultry farming, but I do not presently have the start up cash. And I don’t know if I can be able to get the firstbank loan without guarantor. I also have my business plan for 2000 laying birds. Please help me out. You shall continue to grow in increase in the wisdom of God

    January 17, 2018 at 1:04 pm
    • Abbakin Reply

      Thank you Daramola! We have a lot of programmes that is meant to suit your specific objectives. Cash is the life wire of every businesses and this same commodity is seems very expensive and scarce in today’s economic environment. However, everything that have will have possibility. We have being there and will continue to improve to serve you the better! Kindly subscribe to our business support program. Thanks!

      January 17, 2018 at 7:33 pm
  • Benjamin Reply

    Thanks for this info.
    Please I have knowledge of fish farming and really want to go into it on commercial scale but fund(start up capital) has posed so much challenge to actualize this dream.
    I need your candid support and advise on how best to get this done.
    Am a graduate of Accountancy from Unimaid.

    February 5, 2018 at 8:40 am
    • Abbakin Reply

      Hello Ben
      Thank you for having a self-starter kind of mindset. Indeed business capital has continue to pose challenges to most businesses in Nigeria and you are not alone. However, Abbakin is doing its best to provide seed intervention though our mentoring program.

      February 5, 2018 at 9:10 am
  • Paul D. Bolarin Reply

    Thanks for this eye opening message.
    Please I want to start Bakery business and I’ve invested into it seriously but I still need loan of 1.5m to get mixer and slicer. pls can you guide me on the best way to achieve this?

    Mr Paul D. B

    February 27, 2018 at 5:53 pm
  • Rasaq Salisu Reply

    Good day, I have a capital intensive project that when executed has a lowest ROI of 50%. Maturity period is a year, but to be on the safest side I’ll run on a 2 year incubation period. According to my design, I calculate an income of 36 to 40m quarterly on an investment of 100m. How would you advice me on raising capital and which of these type of funding would best suit my project.

    April 8, 2018 at 4:00 pm
  • Chinedu Reply

    Thanks for the insightful information.
    May I please enquire if the registration is still on, because I tried registering but couldn’t get through.


    June 19, 2018 at 8:42 am
  • Amabi Ali Reply

    Am happy I logged into your site today. I need a loan to start up fish farming business. Wish I can learn more on where and how to access the loan for the business. Thanks

    October 22, 2018 at 11:44 am

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