Federal Government Opens Portal for Conditional Grant & Loan Program
The Federal Government of Nigeria under the supervision of the Federal Ministry of Industry, Trade and Investment, is rolling out two impactful initiatives – the Presidential Conditional Grant Programme & the Presidential Palliative Loan Programme.
Nano businesses will receive N50,000 grant, while MSMEs & manufacturers will access loans up to N1Million & N1Billion respectively. These programmes aim to alleviate the effects of the fuel subsidy removal.
Presidential Conditional grant scheme
and palliative programs.
Revolutionizing Financial Support
The Federal Government of Nigeria is delighted to announce the kickoff of the Presidential Conditional Loan and Grant Scheme to Businesses in Nigeria (including Nano businesses) as part of the Presidential Palliative Program.
The Target Sectors for this Grant
Below are the business that are eligible to apply to the scheme.
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.
Eligible applications which meet the selection criteria will be shortlisted.
About The Scheme
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.
How to Apply for Federal Government Conditional Grant & Palliative Loan Programme 2023
To apply, visit the portal below and fill all the necessary information.
https://grant.fedgrantandloan.gov.ng/
For Grants Click Here to Apply or
https://grant.fedgrantandloan.gov.ng/
For Loans Click Here to Apply or
https://loan.fedgrantandloan.gov.ng/
READ ALSO: Apply for Kaduna State A Kori Talauci 2.0 Operational Grant
FREQUENT QUESTIONS AND ANSWERS
A nano business
is a very small-scale business entity, often operated by a single individual or a small team, and typically characterized by its limited size and scope.
A Nano business has asset value of value <1m and less than 4 employee with annual turnover <1m.
The Bank Verification Number (BVN) is an 11-digit biometric identifier introduced by the Central Bank of Nigeria for customers. It enhances security, reduces fraud, and streamlines financial services by providing a standardised means of verifying and authenticating individual’s identities.
BVN links multiple bank accounts, aids in compliance with regulatory policies, and is used beyond banking for identity verification in various services.
BVN provides a unique identity for each beneficiary.
No, The beneficiary is expected to register thereafter
31st December, 2023
Submit business/Residential address with the closest land mark
Account number, Account Name and BVN
A business that has the ability to create jobs and increase wages