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N50,000 Presidential Conditional Grant Scheme and Palliative Programs.

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The Federal Government of Nigeria is delighted to announce 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.

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.

Benefits

  • 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. 

Requirements

  • Traders: These include single retail marketers, corner shop owners, petty traders, market men and women in open markets.
  • Food Services: These include food and vegetable Vendors.
  • ICT: These include business centre operators, battery chargers, recharge card vendors, call centre agents.
  • Transportation: These include wheelbarrow pushers, independent dispatch riders.
  • Creatives: These include makeup artists, fashion designers, drycleaners.
  • Artisans: These include vulcanizers, shoemakers, painters, repairers.

Key Timelines:

N50b Grants for Nano Businesses (3 Months)

  • Start Date: 10th Oct 2023
  • Duration: 6 weeks planning, 3 weeks official communication, 6 weeks verification, continuous fund disbursement from 12th Dec 2023.

N75b Loans: MSMEs and Manufacturers

  • Start Date: 10th Oct 2023
  • Duration: 6 weeks planning, continuous call to entry, revolving fund disbursement from 5th Dec 2023, repayments starting 5th June 2024

Method of Application

For More Information,

Visit the Official Webpage