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 programmes aim to alleviate the effects of the removal of fuel subsidies.
Nano businesses will receive a N50,000 grant, while MSMEs and manufacturers will access loans up to N1 million and N1 billion, respectively.
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.
The following businesses are eligible to apply for the scheme:
| Category | Businesses |
|---|---|
| Traders | Single retail marketers, corner shop owners, petty traders, market men and women in open markets |
| Food services | Food and vegetable vendors |
| ICT | Business center operators, battery chargers, recharge card vendors, call center agents |
| Transportation | Wheelbarrow pushers, independent dispatch riders |
| Creatives | Makeup artists, fashion designers, dry cleaners |
| Artisans | Vulcanizers, shoemakers, painters, repairers |
Latest Available Loans
FG N50,000 Grants For Nano Business Application Process
- 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.
- For identity verification, provide relevant personal and bank account information, including Bank Verification (BVN).
- Meet the application submission deadline.
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