The Federal Ministry of Youths and Sports, in partnership with Tiimafrica, has organized a one-time grant of $5,000 to Nigerians between the ages of 25 and 35, who run businesses and have 6 months financial records.
This disclosure was made by the Federal Ministry of Youth and Sports, in a tweet via its official Twitter handle.
The tweet reads:
“Need to scale up your business? Tiimafrica in partnership with the Federal Ministry of Youth and Sports is giving out $5000 to young Nigerians between the ages of 25-35, who run a business and have 6 months financial records. Visit http://noya.ng or http://youthandsport.gov.ng to register #DEEL.”
Need to scale up your business? @tiimafrica in partnership with @NigeriaFMYS is giving out $5000 to young Nigerians between the ages of 25-35, who run a business and have 6 months financial records. Visit https://t.co/DTkReCuyEm or https://t.co/Er9CwYxHX4 to register #DEEL pic.twitter.com/6v5lGFv5PY
— Min of Youth& Sports (@NigeriaFMYS) November 25, 2020
Why this matters
The grant is an initiative under the Project Grow 100, set up by the Federal Government through a partnership between the Federal Ministry of Youth and Sports and Tiimafrica to help small business owners access the much-needed funds required to take their businesses to the next level.
The initiative is expected to yield both direct and indirect gains to the economy and strengthen the resilience of young Nigerian business owners through the provision of funds to innovative and creative young entrepreneurs in the country.
What you should know
The Federal Ministry of Youth and Sports and Tiimafrica outlined that those who would be considered for the one-time grant must meet the minimum requirement below:
- Applicants must be between 25 and 35 years old.
- Eligible applicants must be Nigerian.
- You must have been running a business within Nigeria.
- Your business must financial records of at least 6 months.