N10 Million Up for Grabs: 6 Best Loans and Grants Nigerians Can Apply for to Fund Businesses in 2026

• 2026 offers unprecedented funding opportunities for Nigerian entrepreneurs across various sectors
• New initiatives like iDICE and NYIF empower young business owners with essential financial support
• Entrepreneurs must prepare detailed plans and apply through official channels to secure funding

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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

Securing capital remains one of the biggest hurdles for many Nigerian entrepreneurs, but 2026 is presenting more funding opportunities than ever before.

From Federal Government-backed loan schemes to private-sector grants and international accelerator programmes, billions of naira are being made available to support startups, small businesses, and innovative young entrepreneurs across the country.

For many business owners, the biggest challenge is no longer where to find funding, but identifying legitimate programmes and meeting the application requirements.

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Here are six of the most promising funding opportunities available to Nigerians this year.

2026 brings bigger funding opportunities

Nigeria's entrepreneurship ecosystem is witnessing a significant increase in funding support, driven by government interventions and private investments aimed at boosting innovation, job creation, and economic growth.

Among the biggest initiatives is the Investment in Digital and Creative Enterprises (iDICE) programme, a $617 million project that is expanding its support for young entrepreneurs in the technology and creative sectors.

The Nigeria Youth Investment Fund (NYIF) has also received a ₦110 billion boost, increasing access to affordable financing for eligible youths.

In addition, clean energy startups now have access to grants worth up to $20,000 under the Federal Government's Global Cleantech Innovation Programme.

1. Nigeria Youth Investment Fund (NYIF)

Loans of up to ₦3 million

The Nigeria Youth Investment Fund remains one of the Federal Government's flagship financing programmes for young entrepreneurs.

Managed in partnership with the Bank of Industry, the scheme offers loans ranging from ₦250,000 to ₦3 million at a single-digit interest rate of 5% per annum, alongside business development support.

Applicants must be Nigerian youths between 18 and 35 years, possess a viable business idea or existing enterprise, and provide their National Identification Number (NIN), Bank Verification Number (BVN), and other required documents.

Applications are accepted through the official NYIF portal.

2. BOI Youth Entrepreneurship Support (YES) Programme

Funding of up to ₦10 million

The Bank of Industry's Youth Entrepreneurship Support (YES) Programme is one of the country's largest government-backed business financing schemes.

Eligible entrepreneurs can access loans of up to ₦10 million, combined with entrepreneurship training, mentorship, and flexible repayment options.

The programme targets businesses operating in agriculture, manufacturing, technology, healthcare, education, and the creative industry.

Applicants are expected to submit a comprehensive business plan through the Bank of Industry's online application platform.

3. iDICE programme

Massive support for tech and creative startups

The Federal Government's Investment in Digital and Creative Enterprises (iDICE) programme is designed to accelerate innovation among young Nigerians aged 15 to 35.

Backed by the African Development Bank, Islamic Development Bank, and the French Development Agency, the initiative is rolling out additional investment funds in 2026 for technology startups and creative businesses, according to a report by MSME Africa.

Beyond financing, successful applicants receive access to mentorship, investor networks, and business development support.

4. Shell LiveWIRE programme

Funding and mentorship worth up to ₦10 million

Shell's LiveWIRE programme continues to rank among Nigeria's most respected corporate entrepreneurship initiatives.

The programme supports innovative businesses in sectors including agriculture, energy, and technology with funding of up to ₦10 million.

Participants also benefit from intensive business training, mentorship, and professional coaching designed to improve their chances of long-term success.

Applications usually open once or twice annually.

5. Startup Innovation Challenge 2026

Over ₦100 million in prizes

Technology startups looking for equity-free funding can apply for the Startup Innovation Challenge 2026.

Organised by Startup Abuja in collaboration with Transnet Cloud and Amazon Web Services (AWS), the competition offers more than ₦100 million in cash prizes, AWS cloud credits, and expert mentorship.

Eligible startups should have a working prototype or Minimum Viable Product (MVP) in sectors such as FinTech, HealthTech, EduTech, or AgroTech, as well as a functional business website.

6. GCIP Nigeria accelerator fund

Clean-tech startups can receive up to $20,000

Entrepreneurs developing renewable energy and environmentally sustainable solutions can benefit from the Global Cleantech Innovation Programme (GCIP) Nigeria Accelerator Fund.

Implemented through the Rural Electrification Agency (REA), the programme offers grants of up to $20,000, payable in naira at the prevailing Central Bank of Nigeria exchange rate.

The funding can be used for equipment purchases, product development, manufacturing, prototype testing, digital marketing, and other business expenses.

Registered Nigerian startups and MSMEs operating in the clean technology sector are eligible to apply, subject to programme requirements.

Take advantage of the opportunities

With government agencies, multinational organisations, and private companies committing billions of naira to entrepreneurship development, 2026 presents one of the strongest funding windows Nigerian businesses have seen in recent years.

Entrepreneurs are advised to prepare detailed business plans, ensure their registration documents are up to date, and submit applications only through official programme channels to maximise their chances of securing funding.

Bosun Tijani Foundation opens applications for Gen AI training

Legit.ng earlier reported that the Bosun Tijani Foundation has opened applications for the second cohort of its Generative AI Fellowship, a six-month programme aimed at building practical artificial intelligence skills among young Nigerians while paying each participant N50,000 every month.

The fellowship targets Nigerians looking to enter the AI industry, offering two distinct learning tracks based on career interest.

Candidates on the AI Engineering track will cover areas such as machine learning, model fine-tuning, cloud deployment using tools like SageMaker and Docker, AI security, and agentic Retrieval-Augmented Generation (RAG) systems.