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Heritage Bank has been adopted by the Central Bank of Nigeria (CBN) as the sole pilot bank for the Youth Innovative Entrepreneurship Development Programme (YIEDP). The programme is aimed at harnessing the latent entrepreneurial spirit among the teeming youths by providing timely and affordable loans to implement their business ideas. This further provides a sustainable mechanism to stimulate employment, contribute to the Nation’s non-oil GDP, and address the challenge of youth restiveness.

The following categories of youth (aged 18 – 35) are eligible under this scheme:

  • Serving youth corps members
  • Non-NYSC (not more than 5 years post NYSC)

Qualified Business Sectors:

  • Agro – Allied,
  • Food Processing / Preservation,
  • Arts & Crafts,
  • Manufacturing / Cottage Industry,
  • Information & Communication Technology (ICT),
  • Construction Support,
  • Power & Energy,
  • Education & Financial Inclusion,
  • Film & Photography,
  • Automobile,
  • Others

The details below are relevant for all eligible youth:

Eligible youth can apply for the loan through this portal using his/her NYSC State Code. Applications can be made as an Individual or as a group (of 3-5 applicants with similar business interest). A single applicant can access up to a facility limit N3m while group project jointly owned by 3-5 qualified beneficiaries can access up to a facility limit of N10m. Applicants can also track application status via the same portal.


Graduate entrepreneurs will use their tertiary institution(s) certificate(s) and their NYSC discharge certificate. Serving Corp members will pledge their NYSC discharge certificate and their tertiary institution(s) certificates(s). Also, legal ownership of assets financed by the Bank and 3rd party guarantors will be requested as additional collateral from all entrepreneurs.

The application portal will be open for a limited period. However, you can refine your business ideas before the submission.

NOTE: You can call 08028176345 for your business plan writing


cc @jesseosiobe

1 Like

This is a good initiative… Kudos to CBN, as they help to make Nigeria work again!


Quite interesting. Hope they give it to people who really need it and also avoid sentiments. But really can sentiment be avoided in cases like this?


I remember, I tried to receive a loan from Heritage Bank 2 years ago, but at the last minute refused, because the rate was enormous. I started to search loan in other places. Then I found Konga in South Africa. They gave me a loan for 2% rate for my project and that was very good. Now it works and I have some money for life and expansion of my business further. Maybe Heritage Bank will have better loan politics now, so everyone could have a good loaning condition in Nigeria. We need more startups and other business stuff for our economy to grow.