The Federal Government of Nigeria, under the supervision of the Federal Ministry of Industry, Trade and Investment, is rolling out two initiatives – the Presidential Conditional Grant Programme & the Presidential Palliative Loan Programme.
The minister of Industry, Trade and Investment, Dr Nkiruka Uzoka-Anite, said the programmes aim to alleviate the effects of removing fuel subsidies.
Nano businesses will receive an N50,000 grant, while MSMEs and manufacturers will access loans up to N1 million and N1 billion, respectively.
Also Read: FG N75bn Digit Loan To MSMEs via BOI
The target beneficiaries are 70% women and youth, 10% people with disabilities, and 5% senior citizens, while the remaining 15% is distributed to other demographics.
How To Apply: FG N50,000 Grants For Nano Business
Businesses that fall into the six categories below can apply.
Traders |
Food services |
ICT |
Transportation |
Creatives (makeup artists, fashion designers and dry cleaners.) |
Artisans (vulcanizers, shoemakers, painters, repairers). |
FG N50,000 Grants For Nano Business Eligibility Criteria
- Own a nano business.
- Operate a business with progressive economic potential and desire to grow the business.
- Be willing to engage at least one additional staff member if turnover increases.
- Be willing to provide proof of residential/business address in the Local Government Area.
- Provide relevant personal and bank account information, including Bank Verification.
- (BVN) for verification of identity
- Meet the application submission deadline.