FG seeks BOI loans for 26,000 TVET trainees

The Federal Government has disclosed plans to facilitate access to soft loans from the Bank of Industry for about 26,000 trainees under its Innovation Development and Effectiveness in the Acquisition of Skills project.

The IDEAS project is a World Bank-supported initiative in Nigeria aimed at strengthening the Technical and Vocational Education and Training system.
Punch report that the National Project Coordinator for the IDEAS project, Mrs Blessing Ogwu, made this known on Friday during a visit to Wavecrest College, Surulere, Lagos, where officials of the Federal Ministry of Education and World Bank representatives interacted with trainees undergoing Technical and Vocational Education and Training at the institution.

Ogwu said the partnership being sought with the BOI is to secure soft loans for trainees to scale up their businesses after graduation.

Ogwu added that at the end of the training, the ministry intends to provide starter packs to participants to enable them to establish their own businesses.

Ogwu said, “At the end of the programme, the federal ministry intends to give the trainees starter packs. We are training them not to roam the streets in search of government jobs but to become self-reliant.

“The ministry is also liaising with the Bank of Industry to get them soft loans with which they can do something meaningful.”

Ogwu urged the trainees to take the programme seriously, describing it as a major investment by the government.

“If the Federal Government can take loans to train Nigerians, then the trainees must take it seriously because it will earn them a living. The essence is to reduce youth unemployment,” she said.
She revealed that the current batch comprises about 26,000 trainees, while a previous cohort had 14,000 participants, and the pilot phase trained 1,050.

According to her, the six-month programme began on January 12, 2026, while Batch One commenced on October 12. Another cohort of about 30,000 trainees is expected by the end of March.
She stressed that the IDEAS project of the Federal Ministry of Education was designed to reduce unemployment by equipping youths with practical skills.

According to her, the Federal Government is prioritising skills acquisition to tackle unemployment and take young people off the streets.
She urged the beneficiaries to take their training seriously to ensure they can earn a living for themselves.
“The Federal Government has budgeted substantial funds for TVET. There is also additional support from the World Bank to promote TVET education in Nigeria,” she added.

Ogwu explained that training service providers engage external tutors to support trainees as the programme progresses.