📋 Tender Overview
IATI identifier 46002-P-NG-HAA-016
Country Nigeria
Sector Finance
High 5 Industrialize Africa
Sovereign / Non-Sovereign Sovereign
Environmental Category [2] Moderate Risk
Climate Safeguards Categorization [2] Projects may be vulnerable to climate risk.
Gender Marker System Categorization [GEN I] Gender Objective
Commitment (UA) 75,095,935
Project General Description
The proposed Nigeria Youth Entrepreneurship Investment Bank (Nigeria YEIB or N-YEIB) will contribute to the implementation of Nigeria’s Agenda 2050, which aims to accelerate sustained and broad-based growth and development, in order to reduce unemployment, poverty, inequality, gender inequity and human deprivation. A key policy objective of this blueprint is to build a nation where innovation and entrepreneurship are actively explored in order to create value and prosperity for all by the year 2050. The implementation of the objectives of Agenda 2050 are articulated through six, five-year, medium-term plans, the current being the National Development Plan (2021-2025). The NDP isolates Nigeria’s youthful demographic profile as a pivotal and investible asset to help drive economic expansion and shared prosperity. It prioritizes the easing of youths into the labour market productively, by building strong foundation for a diversified economy anchored on a robust Micro Small and Medium Enterprises (MSMEs) growth, and a more-resilient business environment.
Project Objectives
The development objective of the Nigeria YEIB is to promote gender responsive youth entrepreneurship and enterprise development by boosting tailored financial and non-financial services to foster a thriving entrepreneurial ecosystem. It will do so on a large scale amongst Nigerian youth through a combination of appropriate forms of capital, credit risk mitigation, and inclusive, holistic, technical and entrepreneurial training and gender responsive support. The YEIB initiative will support the government’s job creation efforts for young people in Nigeria by enhancing the ecosystem developed by youth led MSMEs as job creators, and will incorporate measures and incentives to promote women’s economic empowerment and reduction of gender gaps in the labour market. It will also promote opportunities for inclusiveness and provide hope to a large group of young people, by addressing their enterprise support needs, including many in rural and disadvantaged areas.
Beneficiaries
The Nigeria YEIB will target existing and prospective youth entrepreneurs (i.e. persons between the ages of 18-35), youth led businesses (i.e. firms with 51% youth ownership or management) and businesses that have youth as the major beneficiary of its goods or services (which by default tend to contribute to employing or training mostly youths). The Nigeria YEIB interventions shall equitably be distributed across the 36 states of the Federation and the Federal Capital Territory (FCT).The YEIB and its vehicles are sector agnostic, however,
