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Federal government releases application portal for conditional grant, loan for nano businesses

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.

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.

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The statement read,

Target Sectors for the Scheme

The following businesses are eligible to apply for the scheme:

Key Timelines

Start Date: 10th Oct 2023

Duration:  6 weeks planning, 3 weeks official communication, 6 weeks verification, continuous fund disbursement from 12th Dec 2023.

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.

Apply here 


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