Loans and Grants Opportunities for Nigerians In 2025 and How to Apply Now
The Nigerian government and some private sectors have continuously announced fresh loan and grant opportunities to help reduce the hardship faced by Nigerians. In some cases, because of poor publicity, some persons hardly hear about these opportunities, in time to apply hence, such opportunities are lost.
Here, we will update all current loan and grant opportunities for individuals, households, and businesses. So if you are searching for any new opportunity announced for Nigerians, bookmark this page and check it weekly for new opportunities.
Read also:Â Grants for Africans
Current Open Grant Opportunities for NigeriansÂ
The following empowerment grants and loans are currently open to Nigerians who wish to participate to register now. Please note that these opportunities are only open for a limited time, so you are encouraged to click on the link on this post to read the full requirements for each opportunity and click on the application link to submit your application before it closes.
Family Economic Advancement Programme (FEAP)
The FEAP is a program designed to eradicate poverty from various LGAs in Nigeria and empower Nigerian families for economic self-sufficiency and social integration through the promotion of viable agro and non-agro-based projects. This program gives out N100,000(One hundred thousand Naira) grant monthly to participating Nigerians for one year. Full details are here with the application link.
Shell LiveWire Grant | Loans and Grants Opportunities for Nigerians
The Shell LiveWire Grant is a grant program organized by Shell Nigeria for Nigerian youth who have entrepreneurial skills or ideas but need funds to grow their business or kickstart their idea. This grant is an annual program and is available for some selected states in Nigeria although there are currently two versions making sure that as many Nigerian youths as possible are carried along. The amount awarded to each participant differs based on their business and the idea submitted. See full details here with the application link.
Apply Now: Get Canada Free Workers Visa Now
TraderMoni No Interest Loan
This loan is quite popular because it was started during the post-COVID-19 era by the previous government (Buhari) and supervised by the then-vice president(Osibanjo). The Tinubu administration re-introduced this no-interest loan and has been on ever since. This N50,000(fifty thousand Naira) loan is meant for petty traders and other small business owners in Nigeria. Read full details here and see the application method.
Presidential Palliative Loan
The presidential palliative loan program which is also called PPL was launched in December 2023 with a 75 billion mapped-out fund. The loan according to its application portal is meant to cushion the effect of fuel subsidy removal on micro, small, and medium-scale businesses in Nigeria. The portal for this loan was launched alongside its sister program(the Presidential Conditional Grant). While the application for the latter has since closed, the portal for the formal is still open(at the time of this post) and you can apply if you have a registered business name. Full details, requirements, and application link are available here.
NYIF Loan
The Nigeria Youth Investment Fund(NYIF) loan program which was launched under the Buhari administration powered by the CBN was originally designed to be a 3 years ring-fenced fund for innovative Nigerian youths with fundable ideas. The program according to its original launch description was to give out between N250,000 to N3,000,000(two hundred and fifty thousand Naira to three million Naira) to youth-owned businesses/ startups. After the 2023 batch of the program(which was meant to be the last), the program was institutionalized by the Tinubu government with the launch of NEXTGEN BANK. In May 2024, the Federal government approved N110 Billion to Rejuvenate the National Youth Investment Fund. With the institutionalization of the NYIF, Nigerian youths can now apply for loans through the NEXTGEN bank and also gain skills and other needed development in various centers established alongside the bank. Full details here.
SMEDAN Loan | Loans and Grants Opportunities for Nigerians
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) stimulates, monitors, and coordinates the development of MSMEs in Nigeria. Part of the duties performed by SMEDAN over the years include launching various empowerment programs including SMEDAN GCSS, SMEDAN WISE-P, SMEDAN ADEP and multiple loan programs such as the just concluded SMEDAN/Sterling Bank matching fund, JAIZ BANK/SMEDAN Matching Fund, BOA-SMEDAN Matching Fund, and others.
SMEDAN ensures that small businesses gain access to loans provided the business owners are identifiable through business registration under the SMEDAN registration or CAC for easy reach. Hence, it is important to note that, before you access most SMEDAN benefits, your business must be registered. More details here.
FG NCHSP N50k Uplift Grant
The president recently announced the National Construction and Household Support Programme(NCHSP) during the June NEC meeting. This grant program is meant to distribute N50,000(fifty thousand Naira) for 3 months to 100,000 households in each state in Nigeria. You can read the details here.
Private Sector Loans In Nigeria
Is no longer news that there are several loan options in the Nigerian space powered by both fintech companies, conventional loan banks, and microfinance banks, and below are some of the government-approved loans in Nigeria.
Accion Microfinance Loan
The Accion Microfinance Bank has been in existence in Nigeria for over a decade and they have continuously given out loans to Nigerians who meet their requirements.
Their loan programs usually have weekly to monthly repayment plans depending on the amount borrowed and the return policy agreed upon by the individual. Their loan amount ranges from N50,000 to N5,000,000 Naira depending on your previous record, visible sie of business, and ability to pay back previous loans. You can read the detailed review here.
Lapo Loan
Lapo is a very common name in the Nigerian SME business space especially amongst women-owned businesses. Lapo Microfinance Bank just like Accion has been in the loan industry in Nigeria for over 15 years and still striving. Their loan scheme is organized in clusters usually with a women leader who ensures that other participants return their loans every week.
Lapo also offers monthly loan programs and savings plans alongside every loan to encourage their customers to save for rainy days. Their loan amount usually ranges from N50,000 to N1,000,000(fifty thousand naira to One million Naira). Before a loan is issued, the leader of the cluster or the account manager of the cluster comes for a business assessment to ensure you can repay the loan when given. Read more here
Grooming Center Loan
Grooming Center Microfinance Bank may not be as old as Lapo and Accion, but they have been around for a good number of years and have given out loans to both small and medium-scale businesses in Nigeria. Their loan program follows the same approach as Lapo although their interest rate is slightly lower than Lapo. At grooming, each loan is paid alongside a savings program which means, as you pay back your loan, you also have some amount dropped into your savings weekly depending on your loan amount and agreement with them. See the interest rate here
Branch Loan
Branch is a microloan app that has survived a good number of years in the micro-lending industry of Nigeria despite the numerous challenges. To get a loan using Branch, users can simply download their mobile app from any of the mobile app stores and proceed to submit their application. You have the option of single-payment loans, installment loans, and payroll loans, and all options are without collateral and require no paperwork. You can borrow as little as N5,000(five thousand Naira) or as much as N1,000,000 depending on your credit history. You can read the details here.
FairMoney Loan
FairMoney loan owned by Fairmoney Micro Finance Bank just like Branch is a micro-lending platform that provides loans to Nigerians. The FairMoney loan is currently the most popular loan app in Nigeria with over 10 million downloads on the Google Play Store. The company offers different loan and savings plans with weekly and monthly repayment plans depending on your loan amount.
With the Fairmoney app, you can get from N5,000 as a beginner and up to N1,000,000 Naira as an old customer provided you’ve been consistent in repaying your loan. They are also approved by the Nigerian government and listed as one of the Trusted Loan Apps in Nigeria. You can see their USSD code and other information here. A comprehensive review is available here.
Conclusions | Loans and Grants Opportunities for Nigerians
There are many opportunities out there but sometimes you need to be an early bird to benefit from them. Here, we have shared just a few of the current ones and we hope to keep updating this page with more information to keep you up to date on fresh loan and grant openings for Nigerians. Please share if you found this article useful.
You may also like;
NG-CARES Grant Application
Best Fully Funded Scholarships
Opay Loan and all you Need to Know
DotPay POS – How to get the POS
Nigeria Loans
Dotpay Loan
BOA-SMEDAN Matching Fund
Kwaba Loan Application