Are you a businessman or woman looking forward to advancing your business and you don’t have enough capital to start or invest? Here is an opportunity for you to apply for the Federal Government’s N50,000 Grant that will take the business to the next level. 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 the fuel subsidy removal. Nano businesses will receive an 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.
Who Can Apply?
Businesses that fall into the six categories below can apply.
1. Traders
2. Food services
3. ICT
4. Transportation
5. Creatives (makeup artists, fashion designers and dry cleaners.)
6. Artisans (vulcanizers, shoemakers, painters, repairers).
Grant Eligibility Criteria
1. Own a nano business.
2. Operate a business with progressive economic potential, and desire to grow the business.
3. Be willing to engage at least one additional staff member if turnover increases
4. 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
5. Meet the application submission deadline.
What Do You Need to Apply
Qualified persons should have a valid email, Phone number, BVN, Account Number, and NIN. Again, you need your contact address, residential address, Local Government of Origin, State of Origin and lots more.
How to Apply
Eligible applicants should visit the website fedgrantandloan.gov.ng and click ‘Apply for a grant.
How to Check if Grant is Approved
To check if your grant is approved, visit fedgrantandloan.gov.ng, enter your BVN and NIN and click submit. From the list of LGA, search for your name and click.
