FAMILY ECONOMIC ADVANCEMENT PROGRAMME (ESTABLISHMENT, ETC.) ACT
Act · Finance
An Act establishes the Family Economic Advancement Programme to provide credit, training, and support for entrepreneurship. It targets low-income families, women, youth, and cooperative societies to foster economic self-sufficiency. The programme aims to alleviate poverty by enabling income-generating activities.
FAMILY ECONOMIC ADVANCEMENT PROGRAMME (ESTABLISHMENT, ETC.) ACT
What Is This Policy?
An Act establishing the Family Economic Advancement Programme (FEAP) to provide credit, training, and entrepreneurship support to families and small businesses to improve economic self-sufficiency.
Who Does It Target?
Low-income families and micro-entrepreneurs Women and youth seeking economic empowerment Cooperative societies and self-help groups State and local government economic development offices
What Does It Aim to Achieve?
Alleviate poverty by providing accessible credit and entrepreneurship support to Nigeria's poorest households, enabling them to establish or expand income-generating activities.
Key Features
Micro-Credit: Provides small loans to qualifying families and micro-enterprises at affordable interest rates. Skills Training: Offers vocational and entrepreneurship training linked to credit disbursement. Group Lending: Uses group guarantee mechanisms to extend credit to those without traditional collateral. Women Focus: Targets women as primary beneficiaries recognising their role in family economic advancement.
Current Status
Rollout Stage: Active — programme being implemented through state offices Coverage: Nationwide, priority on rural and urban poor Beneficiaries: Low-income families; women entrepreneurs; youth Funding: Federal Government; revolving loan fund
How to Access
Form a qualifying group or apply individually through state FEAP offices Complete prescribed entrepreneurship training before loan disbursement Repay loans on schedule to access subsequent facilities Application method: Apply at state and local FEAP offices or through cooperative societies.
Official Resources
Website: https://www.womenaffairs.gov.ng Contact: Federal Ministry of Women Affairs and Social Development
Legal Framework
Enacted under the legislative powers of the National Assembly as the Family Economic Advancement Programme (Establishment, etc.) Act (Cap F3 LFN 2004). Operates alongside the Central Bank of Nigeria Act 2007, the Small and Medium Enterprises Development Agency (SMEDAN) Act, the National Poverty Reduction Programme framework, and the National Social Investment Programme. Aligns with ILO guidelines on microfinance and the ECOWAS Regional Strategy for Poverty Reduction.