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| Apply for the Presidential Conditional grant scheme and palliative |
The Nigerian Federal Government has launched an application portal for the Presidential Conditional Grant for Nano Businesses under the Presidential Palliative Program. This program aims to provide a grant of N50,000.00 to support one million nano businesses in the 774 local government areas.
To ensure equal distribution, the Federal government will partner with State Governments, Honourable Ministers, NASME, Senators, and House of Representative Members. The selection process will involve specific criteria, with a focus on prioritizing 70% women and youth, 10% people with disabilities, and 5% senior citizens. The remaining 15% will be allocated to other demographics.
The Minister of Industry, Trade and Investment, Mrs Doris Uzok-Anite, has announced a program aimed at supporting manufacturers, SMEs, MSMEs, and businesses. A total of N50 billion has been allocated for grants for Nano Businesses, with a start date of 10th October 2023. The program will last for a duration of 6 weeks for planning, 3 weeks for official communication, and 6 weeks for verification. Fund disbursement will begin on 12th December 2023 and will continue on an ongoing basis.
Additionally, N75 billion has been allocated as loanable funds for MSMEs and manufacturers, also starting on 10th October 2023. The program will involve 6 weeks of planning, continuous call to entry, and revolving fund disbursement starting on 5th December 2023. Repayments for the loans will begin on 5th June 2024.
Visit :
https://loan.fedgrantandloan.gov.ng/ to apply for the loan, and
https://grant.fedgrantandloan.gov.ng/ for grant application.
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