Applications for the 2024 Presidential Conditional Grant Scheme are now being accepted. Here is important information about the grant.
About The Scheme
Beneficiaries will receive a grant of N50,000.00 (Fifty Thousand Naira) each, with the aim of reaching one million nano businesses across the 774 local government areas.The Federal Government will work in conjunction with State Governments, Honourable Ministers, NASME (Nigerian Association of Small and Medium Enterprises), Senators, and House of Representative Members to select beneficiaries based on the Federal Government’s criteria.
Grant Eligibility Criteria
– Own a nano business.
– Operate a business with potential for economic growth and have the desire to expand.
– Willing to hire at least one additional staff member if turnover increases.
– Able to provide proof of residential/business address in the Local Government Area.
– Provide necessary personal and bank account information, including Bank Verification Number (BVN) and National Identification Number (NIN) for verification.
The Target Sectors for the Scheme Eligible businesses include:
– Traders
– Food Services
– ICT
– Transportation
– Creatives
– Artisans
Activities
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.
