Nigerian Entrepreneurship Training Program, 2024 Development Bank of Nigeria-Encouraging Nigerian Entrepreneurs:
The Development Bank of Nigeria (DBN) has capacity building as one of its primary missions. We are committed to enabling Nigerian MSMEs to formalise, expand, and gain more bankability, which would make it simpler for them to obtain accessible loans.
The DBN Learning Management System (LMS), a free learning platform with carefully chosen self-paced courses, is being launched this year. All MSMEs in Nigeria that want to learn the necessary skills to succeed in business can access the portal.
DBN will also pick the top companies to participate in an in-person training session. During this session, organisations will be able to explore specific issues, apply fundamental principles practically, and receive focused business help. Every participating company will get a chance to present their value propositions, and some will be chosen to get grant financing. Also apply for Georgia Government Scholarships 2024 in Georgia (Funded).
Financial Benefits:
- Twenty-five businesses will be selected to receive incentives of N500,000 each.
Timeline
- 06-May: Registration and online training on the DBN BizAid.
- 10 July – 17 July: Application period for face-to-face training.
- 24 July – 25 July: Selection and announcement of chosen candidates.
- 31 July – 04 August: Face-to-face training in Abuja.
- 14 August – 18 August: Face-to-face training in Lagos.
- 25 August – 01 September: In-person training in Port Harcourt.
Requirements
- Entrepreneurs must be at least eighteen years old.
- The company’s owner needs to be a citizen or authorised resident of Nigeria.
- The applicant must be able to adhere to the training program if they are approved.
- Any industry may engage in for-profit business.
- Should their application be approved, the candidate must be prepared to dedicate themselves to the training course.
Selection Process
Training Format: The course combines in-person and virtual instruction as part of a blended learning strategy.
- Virtual Training: Using the DBN learning management platform, a self-paced, comprehensive curriculum of nine modules covering fundamental business principles is given (BizAid App).
- Onsite Training: Five days of intensive hands-on instruction based on an evaluation of the chosen firms’ needs. A total of 350 companies will be selected for this training, which will take place in Port Harcourt, Lagos, and Abuja.
- All participating businesses are welcome to present their company value propositions during the pitching session. Twenty-five will be chosen to receive grant financing of N500,000 apiece.
Selection Criteria
- Bankability: The capacity to obtain credit.
- Sustainability and Feasibility: The business model’s viability.
- Scalability: Possibility of job growth and business expansion.
Application Process:
- The application portal should be used to electronically submit applications.
- Enthusiastically involved companies must register on the DBN BizAid application, finish at least four required courses on the BizAid Learning Management platform, and average a score of 70%. The required courses are:
- Bookkeeping and Accounting
- MSMEs’ sustainability
- Techniques for Sales and Marketing
- Credit Control and Financial Access
- Companies that finish all four courses by September 23rd will get an email containing an application link for the in-person training.
- Within 24 hours of completing the application, candidates will receive an email confirming their submission.
- The eligibility criteria will be followed in the screening and shortlisting of applications.
- From the pool of applications that were shortlisted, candidates will be chosen based on the predetermined criteria.