Presidential Conditional Grant Programme: FG to Disburse N50000 Grants to SMEs | How to Benefit from FG N50k Subsidy Grant |Â
Subsidy: FG to disburse grants to SMEs – The federal governement of Nigeria led by President Tinubu in partnership with the Federal Ministry of Industry, Trade and Investment and Small and Medium Enterprises Development Agency of Nigeria(SMEDAN) has concluded plans to commence the disbursement of N50,000 grant to Nano business owners in the 774 local governments in Nigeria.
Read also: SMEDAN/Sterling Bank N5bn Loan For MSMEs In Nigeria
According to a recent update by the Minister for Industry, Trade, and Investment, Dr Doris Uzoka-Anite released on Sunday 3rd December, there are two major programmes expected to commence disbursement soon and they are;
- Presidential Conditional Grant Programme and
- Presidential Palliative Loan Programme
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About
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.
Presidential Conditional Grant Programme
The presidential conditional grant programme is a grant program for nano businesses in Nigeria and under this program, all identifiable Nano businesses who follow the stipulated requirements to obtain this grant will receive a grant of N50,000(fifty thousand Naira) to support their business and alleviate the impact of the fuel subsidy removal.
Read also: SMEDAN Loan Registration Form – SMEDAN Business Registration Direct Link
Presidential Palliative Loan Programme
The presidential palliative programme is a federal governement 75 billion loan programme for micro, small and medium-sized enterprises across all sectors of the country, especially for manufacturers. You can read more about this here.
Requirements for FG N50000 Grants to SMEs | Requirements for Presidential Conditional Grant Programme
Interested nano business owners who wish to participate in the Presidential Conditional Grant Programme are expected to do the following in other to benefit from this grant.
- Nano business beneficiaries should be willing to provide proof of residential/business address in their local government area
- Provide relevant personal and bank account information, including Bank Verification Number for verification of identity
Read also: Iyaloja Fund: FG To Give N50,000 to 1.5 Million Nigerian Market Women
How to Apply for the Presidential Conditional Grant Programme
All interested and eligible business owners are to submit their application(proof of residential/business address) along with their personal information bank details and BVN to their local governement of operation. You can also apply online at https://grant.fedgrantandloan.gov.ng/ before the application deadline.
You are also advised to go with your NIN or other government-issued ID card as a means of identifying yourself.
Read also: CBN NIRSAL Non-Interest Targeted Facility Loan
Application Commencement Date
The application for the grant has commenced and all candidates can now apply online via the grant portal at https://grant.fedgrantandloan.gov.ng/ before the 31st of December 2024.
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