The Nigerian government has opened an application portal for its presidential conditional grant for nano businesses under the presidential palliative programme.
The initiative offers a grant of N50,000 per beneficiary to support one million small businesses in all the 774 local government areas in the country.
The statement said:
“In the Presidential Conditional Grant Programme, the Federal Government will disburse a grant sum of N50,000 to nano businesses across the 774 local government areas.”
“Eligible nano business beneficiaries should be willing to provide proof of residential/business address in their local government area and provide relevant personal and bank account information, including Bank Verification Number for identity verification.”
Also, for the Presidential Palliative Loan Programme, it said: “The Federal Government will likewise disburse N75 billion to Micro, Small and Medium-sized Enterprises, MSMEs, across various sectors and N75 billion specifically to Manufacturers.
“The loan shall be administered to the beneficiaries at a single-digit interest rate of 9 percent per annum.
Eligibility and Criteria
The federal government will partner with state governments, ministers, NASMEs, senators, and rep members, using specific selection criteria to shortlist beneficiaries.
It is understood that 70% of the grant will be given to women and youth-owned businesses, 10% to people with disabilities, 5% to senior citizens, and the remaining 15% allocated to other groups.
Targeted groups for the scheme
The sectors targeted by the scheme include traders, food services, business centre operators, battery chargers, recharge card sellers/POS Operators, and call centre operators.
Others include wheelbarrow pushers, independent dispatch riders, makeup artists, fashion designers, dry cleaners, vulcanizers, shoemakers, and painters.
How to Apply
Eligible businesses should apply using this link.