Calling all nano businesses: The federal government has now unveiled an application portal for its robust N150 billion presidential grant programme.
If you meet the eligibility criteria, don’t wait a moment longer. Click the link in the portal to apply for the loans and grants being offered.
This grant isn’t just for big businesses.
Aiming to uplift the livelihood of nano businesses, the federal government has set its sights on people like vulcanizers, makeup artists, wheelbarrow pushers, petty traders, and dry cleaners.
Coming from a rich background in Tech, Energy, Stocks, and Economy, author Pascal Oparada guides us through this ground-breaking initiative.
Attention all nano businesses! The Federal Government of Nigeria has just launched a centralized application portal for its N150 billion presidential grant programme. This is a fantastic opportunity to secure financial support for your business.
In an impressive effort to broaden the economic landscape, this initiative targets to empower one million smallscale businesses across all 774 local government areas throughout the nation. Each eligible business stands a chance to receive a sizable grant of N50,000.
FG sets criteria for loan and grant eligibility
Joining forces with various stakeholders such as state governments, ministers, NASMEs, senators, and representatives, the federal government has laid out a set of criteria to select eligible beneficiaries for their grant program.
A substantial 70% of the grant has been earmarked for businesses owned by women and youths. Additionally, 10% is reserved for people living with disabilities, another 5% goes to senior citizens, while the remaining 15% is available for other groups.
A recent WOTHAPPEN report quoted the Minister of Industry, Trade, and Investment, Doris Uzok-Anite, stating that the Nigerian government plans to roll out roughly N150 billion to boost nano businesses and the manufacturing sector.
As relayed by a Vanguard report, the minister explained that the financial scheme encompasses the Presidential Conditional Grant Program as well as the Presidential Palliative Loan Program, both aimed at fortifying SMEs, MSMEs, and other businesses.
The minister’s statement read:
“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.”
Targeted groups for the scheme
Are you a trader, involved in food services, or run a business center? Perhaps you’re a battery charger, a recharge card seller, or operate a call center. The federal government’s grant scheme is designed with you in mind.
Business sectors such as wheelbarrow operators, independent dispatch riders, makeup artists, fashion designers, dry cleaners, vulcanizers, shoemakers, and painters are all part of this scheme too.
Wait no longer. If you belong to these business sectors, apply now. Simply follow this link and access the application portal.