The Development Bank of Nigeria (DBN) has launched the Entrepreneurship Training Programme for the year 2024, signaling its commitment to capacity building and support for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.
The program aims to equip Nigerian entrepreneurs with the necessary knowledge and skills to thrive in the business landscape, fostering growth, sustainability, and increased access to credit.
Program Overview
- Capacity Building: DBN prioritizes capacity building as a core mandate, aiming to formalize and grow Nigerian MSMEs, making them more bankable and facilitating easier access to credit facilities.
- Eligibility: The program is open to all Nigerian MSMEs operating in various sectors who are interested in enhancing their business acumen and competitiveness.
- Face-to-Face Training: Selected businesses will have the opportunity to participate in face-to-face training sessions where they can practically apply essential business principles and receive personalized support.
Eligibility Criteria
To qualify for the program, businesses must meet the following criteria:
- The business owner must be at least 18 years old and a citizen or legal resident of Nigeria.
- The business must be based in Nigeria and operate for-profit.
- Applicants must be available to commit to the training schedule once accepted.
Selection Criteria
- Bankability: Evaluation of the business’s readiness to access credit facilities.
- Feasibility and Sustainability: Assessment of the business model’s viability and long-term sustainability.
- Scalability: Consideration of the business’s potential for growth and job creation.
Training Format
The program adopts a blended learning approach, combining virtual and onsite training components:
- Virtual Training: Participants will undergo self-paced virtual training covering nine modules on basic business principles using the DBN learning management platform.
- Onsite Training: Shortlisted businesses will receive intensive practical training over five days in Lagos, Abuja, or Port Harcourt, tailored to their specific needs.
Pitching Session and Grant Funding
- All participating businesses will have the opportunity to pitch their business value proposition.
- Twenty-five businesses will be selected to receive grant funding of N500,000 each to support their growth initiatives.
Program Timeline
- Registration and Online Training: May 6th onwards
- Application for Face-to-Face Training: July 10th – July 17th
- Selection of Candidates: July 24th – July 25th
- Face-to-Face Training Sessions: July 31st – September 1st (in Abuja, Lagos, and Port Harcourt)
- Application Process: All applications must be submitted online through the DBN BizAid application portal. Interested businesses must register on the platform, complete mandatory courses, and meet the eligibility criteria.
Application Process
- Interested applicants must register on the DBN BizAid application and complete four mandatory courses on the learning management platform.
- Businesses meeting the requirements will receive an email invitation to apply for face-to-face training.
- Upon submission of the application form, applicants will receive a confirmation email.
- Shortlisted candidates will be notified via email and phone call.
Conclusion
The DBN Entrepreneurship Training Program 2024 presents a unique opportunity for Nigerian MSMEs to enhance their business skills, access practical training, and secure grant funding for growth initiatives.
By participating in this program, entrepreneurs can position themselves for success in the dynamic Nigerian business environment. Apply now to take your business to the next level.
Click HERE to Apply
