FG Launches GROW Fund to Support 6,122 Youth Entrepreneurs
The Federal Government of Nigeria has unveiled the GROW Fund, a new financing window designed to help 6,122 young entrepreneurs who completed the Inspire, Create, Start and Scale (ICSS) programme to access affordable business loans.
The initiative is powered by Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), in partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), the Society for Organisation, Planning and Training, and Kaduna Business School.
Why the GROW Fund Matters to Young Nigerians
At the launch in Abuja, the Minister of Youth Development, Ayodele Olawande, said the government is shifting from training-only programmes to real economic impact.
“Skills must be connected to capital. Training alone is not enough,” – Minister of Youth Development, Ayodele Olawande.
The fund targets youth-led businesses in agriculture, manufacturing, creative industries and technology, helping them expand, employ more people and access markets.
Who Can Benefit?
According to the Director-General of SMEDAN, Charles Odii, the GROW Fund is specifically designed for graduates of the ICSS programme.
The facility offers:
Affordable, single-digit interest loans
Structured business support
Easier access to financing after completing a standardised training curriculum
About 100 beneficiaries will receive the first batch of funding, while the programme will be expanded nationwide to cover all 6,122 graduates.
How to Be Part of the GROW Fund
To benefit from the GROW Fund, young entrepreneurs should:
Enroll in the ICSS Programme coordinated by SMEDAN in your state.
Complete the required training and business curriculum, which prepares participants to meet loan conditions.
Apply for financing through SMEDAN’s approved financial partners, including Jaiz Bank, which manages the fund.
Stay connected with your nearest SMEDAN office for training schedules and application updates.
So far, ICSS training has been conducted in Lagos, Abuja, Kano, Enugu, Edo and Niger states, with more states joining soon.
Strong International and Financial Support
The Head of Development Cooperation at the German Embassy, Karin Jansen, explained that the programme combines training, mentorship and responsible financing to strengthen Nigeria’s small business ecosystem.
The GROW Fund gives Nigerian youths a practical path from skills to capital. For young entrepreneurs struggling with high interest rates and limited funding, this programme offers a real opportunity to start, grow and scale sustainable businesses.
