The Federal Government of Nigeria has announced the kickoff of the Presidential Conditional Grant to Nano Businesses as part of the Presidential Palliative Program.
The grant sum is N50,000.00 (Fifty Thousand Naira) per beneficiary, and it is designed to reach one million nano businesses in the 774 local government areas.
The Federal Government will collaborate with the State Governments, Honourable Ministers, NASME (Nigerian Association of Small and Medium Enterprises), Senators, and House of Representative Members, who will use the Federal Government’s selection criteria below to shortlist the beneficiaries from their constituents.
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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.
Target Sector For The Scheme:
1. Trader
2. Transportation
3. Food Services
4. ICT
5. Creatives
6. Artisans
How to apply:
Grant Amount:
Nano businesses will receive an N50,000 grant, while MSMEs & manufacturers will access loans up to N1 million & N1 Billion respectively.
Interested and qualified applicants should apply via
https://fedgrantandloan.gov.ng
These programs aim to alleviate the effects of the fuel subsidy removal.
