The Nigerian Federal Government has announced the launch of the Presidential Conditional Grant for Nano Businesses as part of the Presidential Palliative Program.
Each beneficiary will receive a grant of N50,000.00 (Fifty Thousand Naira). The program aims to support one million nano businesses across the 774 local government areas. The Federal Government will work together with State Governments, Honourable Ministers, NASME (Nigerian Association of Small and Medium Enterprises), Senators, and House of Representative Members. These stakeholders will use the selection criteria provided by the Federal Government to identify and shortlist beneficiaries from their respective constituents.
The target beneficiaries consist of 70% women and youth, 10% people with disabilities, and 5% senior citizens. The remaining 15% is allocated to other demographics.
Target Sector For The Scheme:
1. Trader
2. Transportation
3. Food Services
4. ICT
5. Creatives
6. Artisans
Grant Amount:
Nano businesses will receive a grant of N50,000. MSMEs and manufacturers can access loans up to N1 million and N1 billion respectively.
How To Apply:
Interested and qualified applicants should apply through the website https://fedgrantandloan.gov.ng.
These programs are designed to mitigate the impact of the fuel subsidy removal.
