Federal Government Launches ICSS Programme for Youth Business Loans
The federal government of Nigeria has officially opened registration for a new credit scheme aimed at empowering young entrepreneurs across the nation. Through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the initiative, known as the Inspire Create Start Scale (ICSS) programme, will provide 6,122 Micro, Small, and Medium Enterprises (MSMEs) with access to single-digit interest loans, ranging from N250,000 to N5 million.
Programme Details and Launch
The ICSS programme was unveiled in Abuja on Tuesday, February 17, 2026, with Jaiz Bank designated to manage the dedicated loan facility. This scheme is designed to support Nigerian youths in scaling their businesses by offering not only financial assistance but also comprehensive training, mentorship, and market access opportunities. The programme targets a wide range of participants, including aspiring entrepreneurs, early-stage founders, and existing business owners looking to expand their operations.
Eligibility and Application Process
The ICSS programme is structured into four modules to cater to entrepreneurs at different stages of their journey:
- Inspire: For aspiring entrepreneurs unsure where to start, including recent graduates and job seekers exploring opportunities. No prior business experience is required.
- Create: For individuals with a business idea needing structure, requiring a basic understanding of the industry and commitment to module activities.
- Start: For entrepreneurs ready to move from planning to execution, with a validated idea and readiness to implement operational plans.
- Scale: For business owners with operational ventures seeking to expand into new markets or scale their operations, requiring proven revenue or strong growth potential.
To apply, interested individuals must follow these steps:
- Visit the official SMEDAN ICSS registration portal at www.smedan.gov.ng/ICSS.
- Select the appropriate module based on their business stage.
- Complete the application form with personal and business details, including a brief description of their idea or venture, and attach any required supporting documents.
- Submit the application for review by SMEDAN and its partners.
- Await confirmation, with successful applicants receiving instructions on accessing loans and support services.
- Upon approval, gain access to training, mentorship, and financial support tailored to their business needs.
Financial Support and Additional Initiatives
Approved applicants will receive loans based on their business stage: START loans range from N250,000 to N2 million, while SCALE loans offer between N1 million and N5 million. In a related development, the Bank of Industry (BOI) has launched the Guaranteed Loans for Women (GLOW) fund, a N10 billion initiative to support women-owned and women-led businesses across Nigeria. This fund aims to empower female entrepreneurs to create jobs and strengthen their participation in the economy, complementing the broader efforts of the federal government to boost entrepreneurship and economic growth.
