Presidential Support for Nigerian Businesses
The Federal Government of Nigeria has launched the Presidential Conditional Loan and Grant Scheme, an integral part of the Presidential Palliative Program aimed at supporting businesses across the nation, including nano-scale enterprises.
Target Sectors and Eligibility
This scheme is open to various sectors, including traders like single retail marketers, corner shop owners, and market vendors, alongside food services such as food and vegetable vendors.
Additionally, ICT-based businesses like business centers, recharge card vendors, and call center agents are eligible.
Transportation workers, creatives encompassing makeup artists, fashion designers, and artisans like vulcanizers, shoemakers, and painters are also included.
How to Apply
Eligible businesses meeting the criteria will be considered for this opportunity.
Insights into the Scheme
Each beneficiary stands to receive a grant of N50,000.00, specifically tailored to support one million nano businesses spread across the 774 local government areas in the country.
Collaboration with state governments, Honourable Ministers, NASME (Nigerian Association of Small and Medium Enterprises), Senators, and House of Representatives Members will aid in the selection process.
The criteria focus on demographics, with 70% targeting women and youth, 10% for people with disabilities, 5% for senior citizens, and the remaining 15% allocated across other segments.
For those interested in applying or seeking further information, the official website for this initiative is https://fedgrantandloan.gov.ng.
