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The Federal Government of Nigeria has released an application portal for its Presidential Conditional Grant for Nano Businesses under the Presidential Palliative Program.
The scheme offers a grant of N50,000.00 per beneficiary, aiming to support one million nano businesses across the 774 local government areas.
The Federal government will collaborate with State Governments, Honourable Ministers, NASME, Senators, and House of Representative Members and will use specific selection criteria to shortlist beneficiaries, prioritizing 70% women and youth, 10% people with disabilities, and 5% senior citizens, with the remaining 15% allocated to other demographics.
Nairametrics had reported earlier that The Minister of Industry, Trade and Investment, Ms Doris Uzok-Anite disclosed this in a statement signed by her.
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She explained that the program consists of the Presidential Conditional Grant Programme and the Presidential Palliative Loan Programme targeted at manufacturers, SMEs, MSMEs, and businesses.
The 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.”
- “The Federal Government through the Federal Ministry of Industry, Trade and Investment and Small and Medium Enterprises Development Agency of Nigeria will collaborate with state and local governments, federal legislators, federal ministers, banks, and other stakeholders.”
- “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 verification of identity.”
Target Sectors for the Scheme
The following businesses are eligible to apply for the scheme:
- Traders: Single retail marketers, corner shop owners, petty traders, and market men and women in open markets.
- Food Services: Food and vegetable vendors.
- ICT: Business centre operators, battery chargers, recharge card vendors, and call centre agents.
- Transportation: Wheelbarrow pushers and independent dispatch riders.
- Creatives: Makeup artists, fashion designers, and dry cleaners.
- Artisans: Vulcanizers, shoemakers, painters, and 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.
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To provide more jobs opportunities
ICT
Thank you all so much for this opportunity
Please information for state and local government in the porter are not displaying
It is a means of helping the poor and needy . A way of reaching out to the unreached
Serious we are happy and we will inform our peoples. Thank
How long does it take to receive the money
Please some of the column can’t be filled. Such as state and L. G. A etc
Thank God for this opportunity
I love this opportunity thank you so.much was
.
It’s All God and am greatful for It
Thank god for this opportunity from this government
Wow! This is a very good relief for the poor and less privileged citizens. We are very much happy. A way of reaching out to the unreached. We will inform our people. Kudos to this program.
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