FAQ

FAME PROJECT

FREQUENTLY ASKED QUESTIONS

Eligibility:

1. Who are eligible to apply for the FAME Project?

Ilesa and Ijesaland Indigenous youth entrepreneurs (experienced, up-and-coming) who are residents and operating their businesses in Ilesa and Ijesaland are eligible to apply.

2. How many Local Government Areas (LGAs) will the FAME Project cover?

Six LGAs in Ijesaland: Oriade, Obokun, Ilesa East, Ilesa West, Atakumosa East, and Atakumosa West

3. What is the age range for eligible applicants?

18-35 years old (proof of evidence is required)

4. Can Non-Ijesa youth entrepreneurs apply?

No, only Ilesa and Ijesaland indigenous youth entrepreneurs are eligible.

5. What are the educational requirements for eligibility?

Minimum of secondary education; post-secondary qualification is an advantage

Business Eligibility:

6. What types of businesses are eligible for the FAME Project?

Legally permissible businesses in Nigeria, registered with Corporate Affairs Commission (Proof of registration is required)

7. What sectors do FAME Project prefer to fund?

Agro and Food Processing, Manufacturing, Hospitality and Creative Services, Basic Education, and Technology-based initiatives

8. Can a beneficiary business be located anywhere in the country?

Business must be located within the Six LGAs in Ijesaland: Oriade, Obokun, Ilesa East, Ilesa West, Atakumosa East, and Atakumosa West

Application and Selection:

9. When can I apply for the FAME Project?

Applications start on the 10th of March, 2025 and close on the 30th of April, 2025.

10. How do I apply for the FAME Project?

Applicants can only apply through the official online portal of FAME Project: www.maf.org.ng/fameproject

11. What are the selection criteria for the FAME Project?

The selection criteria is based on business plan, entrepreneurial potential, and community impact.

Grant Size and Funding:

12. What is the minimum grant size for the FAME Project?

Business proposals that require a total (initial or expansion) capital of a minimum of N250,000 will be considered

13. What is the maximum grant size for the FAME Project?

 Business proposals that require a total (initial or expansion) capital of a maximum of N3,000,000 will be considered

14. Can FAME Project consider funding businesses outside the specified grant size?

No! However, the Project secretariat may apply its discretion

Project Benefits:

15. What benefits can I derive from the FAME Project?

Business Training, Business Grants, and Business Mentoring Support

16. How much grant support can I expect?

Transparent assessment of business plans will determine the grants to be provided as start-up capital for new businesses or to support expansion of existing businesses

17. What kind of mentorship support will I receive?

One-year incubation for mentorship support, business management guidance, and growth plan strategy development from experienced entrepreneurs and business professionals

Project Goals and Objectives

18. What is the main objective of the FAME Project?

To contribute to job creation in Nigeria by supporting Ijesa youth startups/entrepreneurs.

19. How does the FAME Project aim to achieve its objectives?

Through capacity building, grant support, and mentorship

20. What is the expected impact of the FAME Project?

Creating a culture of entrepreneurship in young people in Ijesaland, contributing to the growth of Ijesa's economy, and supporting the upliftment of potential entrepreneurs

Stages of implementation for the FAME Project

21. How many stages are the FAME Project implementation?

Ans: 6 Stages

  1. Recruitment and selection.
  2. Entrepreneurship Development Training
  3. Assessment & Adjudication of Business Plans
  4. Due Diligence & Procurement
  5. Grants Award & Memorial Lecture
  6. Post-Investment Business Mentoring Support & Alumni
22. How many candidates will be selected for the 2nd stage?

Top 30 candidates.

23. What is the basis for selecting candidates?

Merit-based, quality-driven selection.

24. What is the duration of the entrepreneurship development training?

5 Days Online and

5 Days Bootcamp (Physical)

25. What topics will be covered during the training?

Entrepreneurship, business management, marketing, financial management, human resource, customer service, business plan.

26. What is required of candidates after the training?

Submission of business plans.