For small scale entrepreneur to access any of the loans supported by the Central Bank (CBN), he must have undergone specific training at Entrepreneurship Development Centres or EDC which are certified by the apex bank.
Also known as Entrepreneurship Development Institute (EDI), the centres are saddled with the mandate of developing entrepreneurship spirit among Nigerians.
They are also expected to provide insight into the tools, techniques and framework for managing all functional areas of business enterprise, including production, marketing, personnel and finance.
Some people prefer to call the loan application training centres, whichever way, we’ve covered everything you need to know about CBN certified EDC in Nigeria.
What Gave Birth To EDC in Nigeria?
Apart from regulating the operations of commercial banks in Nigeria, the CBN is also supporting Micro, Small and Medium Enterprises (MSMEs). It’s one of the microfinance roles of the apex bank.
In 2006, it initiated plans to support the efforts of the following agencies:
- Small and Medium Enterprises Agency of Nigeria (SMEDAN),
- National Directorate of Employment (NDE),
- National Poverty Eradication Programme (NAPEP),
- Industrial Training Fund (ITF) among others by coming up with one Entrepreneurship Development Centre [EDC] in each of the six geo-political zones in Nigeria.
Subsequently, an advertisement was placed in major dailies 11th to 13th September 2006, inviting bidders that would be supported to foster private sector led, commercially oriented and sustainable entrepreneurship development programmes in the zones by establishing viable entrepreneurship development centres.
The aim of CBN EDC include:
This is to encourage private entrepreneurship
- Job creations,
- Income growth,
- Poverty eradication
- Economic development
To generate employment opportunities for Nigerians in pursuance of the provisions of the National Economic Empowerment and Development Strategy [NEEDS] and recently vision 2020.
To raise a new class of entrepreneurs/owners, who can compete globally and succeed in managing MSMEs and provide the bridge for future industrialization of the country.
To develop skills of would-be-entrepreneurs to successfully start, expand, diversify and manage business enterprises as well as link them with financial institutions to start-up capital, especially the microfinance banks.
What is expected of the training centres:
The certified centres are expected to:
- provide physical structures,
- training materials,
- human resources
And other facilities that would assure internationally competitive, effective and sustainable services capable of meeting the needs of MSMEs in the zones.
Funding of Entrepreneurship Development Institute EDI
At the take-off stage, CBN provided a significant part of the initial take-off capital while each centre would, in addition, provide counterpart funding and show evidence on how the Centre would be self-financing over time. We pointed this out in the application process on how to become an accredited EDC.
Today, the power of the CBN-certified EDC is enormous in that they act as the link between SME seeking a loan and the banking granting the loan. One of such is Agric Small Medium Enterprise Scheme (AGSMEIS) loan where you are expected to provide evidence of training from an accredited EDI centre.
Depending on your geopolitical zone or state of residence, you MUST enrol for training at EDC.
Lagos has six EDC
- Centre for Entrepreneurial Development, Lagos
- Pan Atlantic University
- Fate Foundation
- Empretec Nigeria Foundation
- LEAP Africa
- After School Graduate Development Centre
Below is the full list and addresses of CBN Entrepreneurship Development Centres in Nigeria, their website, location, and contact details
|Name of EDC||Address||Website/Phone Number|
|EDC South West, Ibadan||Old SDSTC (Oyo Oodua Skill Acquisition Centre Premises),
Samonda, along Sango-UI Road,
Ibadan, Oyo State, Nigeria.
0809 7314 264,
0902 4370 966
|CBN-EDC, Calabar (South South)||Prof. Eyo Ita House,
Ndidem Usang Iso Road,
Calabar Municipal 0810,
Cross River State. Nigeria
|EDC, North East, Maiduguri||Old Informatics Institute, Njimtillo, Kano Road,
Maiduguri, Borno State
|North West EDC Centre||Murtala Muhammed Library Complex,
Kano, Kano State
|North Central EDC Centre, Makurdi||Off Jonah Jang Crescent,
Near Federal Secretariat,
Makurdi, Benue State.
|CBN-EDC, Maiduguri (North East)|| Liaison Office
2, Nnamdi Azikwe Road,
Adjacent Shagari Shopping Complex,
GRA, Bauchi, Nigeria.
|North Central, Minna||Minna Innovation Institute,
Behind Niger State Sharia Commission,
Justice Ndajiwo Drive,
Minna, Niger State.
|North-East Zone||Old Informatics Institute,
Jimtilo, Kano Road, Maiduguri,
Borno State, Nigeria.
|South East EDC centre, Enugu||Ebenezer Villa Suite
Ogenyi Close, Off Cornerstone Avenue
Off Nike Lake Resort Road,
Enugu, Enugu State.
|Centre for Entrepreneurial Development, Lagos||36, Murtala Mohammed International
Airport Road, Lagos.
60 Erinwole Awolesi Road, GRA Sagamu
|Pan Atlantic University||Lagos Office Address
KM 22, Lekki-Epe Expressway
Ajah, LagosAbuja Office Address
4 Oguda Close Off Lake Chad Crescent
0817 458 3181
0817 458 3182
|Fate Foundation||First Floor Water Co-Operation Building,
Ijora Olopa, Apapa,
|Empretec Nigeria Foundation||1D Club Road, Ikoyi, Lagos, Nigeria.||www.empretecnigeriafoundation.org
|LEAP Africa||13 Omorinre Johnson Street
Off Admiralty Way, Lekki Phase 1,
+234 1 2706541-2
|SME Toolkit Nigeriaemail@example.com.||http://nigeria.smetoolkit.org/nigeria/en|
De Ruijterkade, 107
Amsterdam, 1011 AB
+31 202 181 060
|After School Graduate Development Centre||5, Maitama Sule Crescent,
Off Awolowo Road,
South West Ikoyi, Lagos
|Kaduna Business School|| 17 Gobarau Road, U/Rimi,
Kaduna, Kaduna State.
0701 932 2229
|Institute Of Entrepreneurship And Development Studies||round Floor
Faculty of Social Sciences
Obafemi Awolowo University
Ile – Ife, Osun State.
234 805 889 4997
|Centre For Entrepreneurship Innovation, University Of Ibadan||University of Ibadan,
Ibadan, Oyo State.
|Centre For Enterprise Development And Action Research (CEDAR)||11, Oluyole Way, New Bodija,
Ibadan, Oyo State.
The EDC listed here are also recognized by the Bank of Industry