The Kogi Enterprise Development Agency (KEDA), in partnership with Jaiz Bank, Lokoja, has announced a new financial support initiative aimed at boosting entrepreneurship across Kogi State. The programme seeks to expand access to affordable financing for business owners, reflecting the Agency’s commitment to supporting both registered and unregistered enterprises while strengthening collaborations with financial institutions.
Designed to stimulate economic growth, the loan facility offers competitive interest rates of 15-17 percent per annum, significantly lower than conventional bank rates, making it an attractive option for entrepreneurs seeking capital to sustain and grow their businesses. KEDA recognizes the persistent challenges small and medium-scale enterprises face in accessing finance and has proactively partnered with Jaiz Bank to provide practical solutions.
The initiative features two loan categories. Category A provides ₦100,000 to ₦500,000 for entrepreneurs with a National Identification Number (NIN) and Bank Verification Number (BVN), while Category B offers ₦1,000,000 to ₦5,000,000 for businesses with Corporate Affairs Commission (CAC) registration in addition to NIN and BVN. The loans require no processing fees and are based on self-guarantee, ensuring straightforward access for entrepreneurs.
Business owners interested in applying for the loans are encouraged to visit the KEDA Office at No. 26, Federal University Road, Lokoja, where designated desk officers will provide guidance and support throughout the process.
Through this initiative, KEDA aims to remove barriers to growth, enabling entrepreneurs to expand their operations and contribute meaningfully to Kogi State’s economic development. The agency reaffirmed its commitment to consolidating government achievements and building an enabling environment that supports thriving businesses and sustainable economic progress.
