Central Bank of Nigeria

Request for Expression of Interest (EOI) from State Governments within the South-West Geopolitical Zone of Nigeria Interested in Collaborating with the Central Bank of Nigeria to Establish Entrepreneurship Development Centre (EDC)

1.     Introduction

The Central Bank of Nigeria (CBN) has extended the operations of its first phase Entrepreneurship Development Centre (EDC) in the South-West geo-political zone under a Tripartite Agreement which will comprise of the Host State Government, Implementing Agency (IA) and the Bank.

This first phase CBN-EDC project in the South- West (Lagos) has been in operation for five (5) years (April 2008 -April 2013). The Bank has approved the operations of the Centre be extended for another three (3) years under a Tripartite Agreement model.

Applications are invited from interested State Governments within the South-West zone wishing to host the CBN-EDC in collaboration with the Bank and Implementing Agency for the bid to establish the EDC in their respective States.

1. 2.     Objectives of the EDCS

The CBN-supported EDCs which is focused on those that have completed secondary school or tertiary education has the following specific objectives:

1. To develop entrepreneurship spirit among Nigerian youth.
2. To provide insight into the tools, techniques and framework for managing business enterprises successfully.
3. To develop skills of potential entrepreneurs to successfully start, expand, diversify and manage businesses as well as link them with financial institutions to enable them access capital, especially from Micro-finance Banks (MFBs).
4. To create employment opportunities for Nigerians in pursuance of the provisions of the National Economic Empowerment and Development Strategy (NEEDS) and Vision 2020.
5. To raise new class of entrepreneurs/business owners, who can successfully manage MSMEs that will provide the bridge for future industrialization of the country, and also be able to compete in the global market.

3. Criteria for the Selection of Participating States

State Governments wishing to collaborate with the CBN on the establishment of the EDC in its area of jurisdiction is required to meet the under listed criteria:

1. Provide the following facilities to support the smooth and effective operations and delivery of the required services to trainees:

• Physical Structure (offices, training halls, appropriate furniture etc)
• Training Materials (lecture instruction materials, computers etc)
• Equipment for hands-on training
• Other Institutional support infrastructure that will be incidental to the smooth delivery of the Centre’s objectives;

1. Provide incubation Centres which will offer on-site business development facilities to aid trainees in session to enable them have hands-on experience in their chosen vocation;
2. Provide incubation facilities that focus on the end of the business development cycle by providing experienced business support, high quality facilities and management services for business start-ups;
3. Commitment to provide financial support to enable graduates establish or expand their businesses;
4. Establish the Centre in a location that will be easy to be accessed by the target beneficiaries in the zone;
5. Establish industrial cluster for the purpose of sharing common resources particularly infrastructure;
6. Provide counter-part funding and evidence of how the Center will be self-financing and sustainable after the exit of the CBN;
7. Demonstrate that it has a comprehensive awareness programme aimed at providing information on the benefits of the EDC, to the youths in the State and the Zone.

Interested State Governments within the Southwest geo-political zone are hereby invited to submit their Expression of Interest for the establishment of the Entrepreneurship Development Centre in their State to the address below, not later than 1^st April, 2014.

The Director,

Development Finance Department,

Central Bank of Nigeria,

Corporate Headquarters

Central Business District,

P.M.B 0187, Garki,

Abuja -Nigeria.

Signed:

Management

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