The North East Fund being sponsored by the Bank of Industry (BOI) Nigeria is aimed empowering the North East where beneficiaries will be the IDPs and their host communities.

The Executive Director, Micro Small and Medium Enterprises (MSMEs) at BoI, Toyin Adeniji, disclosed that the focus is on the BoI-North East rehabilitation fund, NERF is aimed at transforming the region by supporting businesses with easily accessible zero interest in the region.

The Board Chairman, Bank of Industry (BoI), Aliyu Dikko, on Thursday said the lender has provided financial support worth N678 billion ($2.4 billion) to over two million Small and Medium Enterprises (SMEs).

NERF Registration Application Eligible State

North East is one of the geopolitical zones of Nigeria, consisting of the following states eligible for registration:

  • Adamawa
  • Bauchi
  • Borno
  • Gombe
  • Taraba
  • Yobe

North East Rehabilitation Fund

The North East Rehabilitation Fund is a N2.4 billion intervention fund of the Bank of Industry that aims to support Businesses in the North East Region of Nigeria with easily accessible zero interest loans.

The decade long insurgency in the North East has significantly eroded most commercial activity in the region, leaving the indigenes with no means of sustainable livelihood. This Fund is a direct effort of the Bank of Industry to support the rehabilitation of a post crisis region where over two million people have been displaced.

The fund is rolled out in three main categories: Micro credits for petty traders, Small and medium scale loans and the larger loans for the rehabilitation of industries

The Micro credit component is active in all six states in the North East with 140,000 petty traders across the six states receiving micro credit under this initiative.

How to Apply for North East Rehabilitation Fund – NERF Registration

Visit the secretariat, LGA of your residence.

Be there on or before 8AM. The earlier you go the better! Be patient it takes time to record one individual.

That is the more reason you have to go early, sacrifice your time, write your personal details on a paper as you arrive the venue, go with a sheet of paper and pen.

Official website: https://growthplatform.tech/north.html