Federal Government to Provide BOI Loans for 26,000 Skills Trainees

The Federal Government has announced plans to support about 26,000 young Nigerians with soft loans through the Bank of Industry (BOI), a move designed to help skills trainees move from learning to earning.

The initiative is part of the Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) Technical and Vocational Education and Training (TVET) programme, a World Bank-supported project focused on equipping young people with practical skills that can lead to sustainable livelihoods.

For many young Nigerians, the biggest challenge after acquiring a skill is not the training itself but the lack of start-up capital. Tools, equipment, workspace, and basic operating funds often stand between a trained individual and a working business. The planned BOI loans are intended to close that gap and give graduates a realistic chance to become self-employed or grow small enterprises.

From Training to Self-Reliance

According to the National Project Coordinator of the IDEAS project, Mrs. Blessing Ogwu, the government is working to ensure that participants do not end up back on the streets searching for scarce white-collar jobs. Instead, the goal is to help them build independent sources of income.

The current batch of the programme includes about 26,000 trainees undergoing a six-month training that began in January 2026. Earlier phases trained over 15,000 participants, and another cohort of about 30,000 trainees is expected later this year.

Beyond classroom instruction, the programme combines practical sessions, mentorship, and industry exposure. In some fields, participants also complete internships to gain real work experience before graduation.

A Nationwide Skills Push

The IDEAS TVET programme operates through more than 400 accredited training centres across the country, alongside thousands of public TVET centres under the Federal Ministry of Education. Training areas include hospitality, catering, technical trades, customer service, and other high-demand vocational fields.

Officials say the programme represents a major investment in human capital, supported by both federal funding and development partners. The World Bank has described Nigeria’s TVET reform effort as one of its largest education engagements in the region.

The broader objective is clear: reduce youth unemployment by focusing on practical skills that match real market needs.

Why the BOI Support Matters

In Nigeria’s informal and small-business economy, access to affordable credit remains one of the biggest barriers to growth. Many skilled graduates abandon their trades because commercial loans come with high interest rates or strict collateral requirements.

Soft loans from the Bank of Industry, if properly implemented, could give graduates breathing space to start small, build customer bases, and gradually expand. Combined with starter packs already planned by the government, the support is expected to improve the survival rate of new businesses created by programme beneficiaries.

What People Are Asking

Who qualifies for the loans?
The support is expected to target graduates of the IDEAS TVET programme after successful completion of their training.

Will trainees receive starter packs?
Yes. The Federal Ministry of Education plans to provide basic tools or starter kits in addition to facilitating access to BOI financing.

Is the programme ongoing?
Yes. The current training cycle is underway, and additional batches are expected within the year.

A Practical Perspective

From a workforce development standpoint, the strength of this initiative lies in its structure. Training alone rarely solves unemployment. But when skills are combined with mentorship, industry exposure, and access to capital, the chances of long-term impact improve significantly.

If monitored well and sustained beyond political cycles, the IDEAS–BOI linkage could become a model for how Nigeria turns skills acquisition into real economic participation.

One Takeaway

For participants, the opportunity goes beyond learning a trade. The real advantage will come to those who treat the training like the foundation of a business—planning early, saving where possible, and thinking about customers long before graduation.