The Kogi Enterprise Development Agency (KEDA), in collaboration with Jaiz Bank, Lokoja, has unveiled a fresh financial empowerment scheme designed to uplift entrepreneurs across Kogi State. This initiative aims to widen access to affordable funding for business owners, demonstrating the Agency’s dedication to assisting both formal and informal enterprises while deepening its partnership with financial institutions.
Created to drive economic advancement, the loan programme offers favourable interest rates of 15–17 percent annually—considerably lower than traditional banking rates—making it an appealing option for entrepreneurs in need of capital to maintain or scale their ventures. KEDA acknowledges the ongoing hurdles faced by small and medium enterprises in securing finance and has intentionally partnered with Jaiz Bank to deliver practical, accessible solutions.
The scheme includes two distinct loan categories. Category A covers funding from ₦100,000 to ₦500,000 for entrepreneurs with a National Identification Number (NIN) and Bank Verification Number (BVN), while Category B provides ₦1,000,000 to ₦5,000,000 for businesses that possess Corporate Affairs Commission (CAC) registration in addition to NIN and BVN. The loans come with zero processing fees and require only self-guarantee, ensuring a simple and seamless application process.
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Interested business owners are encouraged to visit the KEDA Office located at No. 26, Federal University Road, Lokoja, where designated officers are available to guide applicants and offer support throughout the application journey.
Through this programme, KEDA aims to break down growth barriers, empowering entrepreneurs to scale their operations and contribute significantly to Kogi State’s economic development. The Agency reiterated its resolve to strengthen government achievements and foster an enabling environment that promotes business success and long-term, sustainable economic progress.
