The Nigerian Government announces the launch of the N50,000 Presidential Conditional Grant and Palliative Loan Scheme, a game-changer for entrepreneurs, including Nano businesses, under the Presidential Palliative Program. The Federal Government recently announced the kickoff of the Presidential Conditional Grant Scheme (PCGS) to Nano Businesses across Nigeria as part of the Presidential Palliative Program.
Presidential Palliative Programmes – Loans for MSMEs and Manufacturers
– Amount: N75 billion
– Sectors: Traders, Food Services, ICT, Transportation, Creatives, and Artisans
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The grant sum, according to the FG is N50,000.00 (Fifty Thousand Naira) per beneficiary, and it is designed to reach one million nano businesses in the 774 local government areas across the nation.
The Federal Government said it will collaborate with the State Governments, Honourable Ministers, NASME (Nigerian Association of Small and Medium Enterprises), Senators and House of Representatives members, who will use some selection criteria to shortlist the beneficiaries from their constituents.
The FG also disclosed that the target beneficiaries are 70% women and youth, 10% people with disabilities and 5% senior citizens while the remaining 15% will be distributed to other demographics.
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The target sectors for the Scheme or the businesses that are eligible to apply to the PCGS have also been spelt out by the FG.
“Traders: These include single retail marketers, corner shop owners, petty traders, market men and women in open markets,” the Federal Government stated.
“Food Services: These include food and vegetable Vendors; ICT: These include business centre operators, battery chargers, recharge card vendors and call centre agents.
“Transportation: These include wheelbarrow pushers and independent dispatch riders; Creatives: These include makeup artists, fashion designers and drycleaners; Artisans: These include vulcanizers, shoemakers, painters and repairers.”
Presidential Conditional Grant Scheme (PCGS)
– Amount: N50,000 per beneficiary
– Target: One million nano businesses across 774 local government areas
– Sectors: Traders, Food Services, ICT, Transportation, Creatives, and Artisans
How to apply for Presidential Conditional Grant Scheme 2023
Interested and qualified candidates have been directed to visit https://grant.fedgrantandloan.gov.ng/apply to apply for the Presidential Conditional Grant Scheme.
For more information, they have also been directed to visit https://grant.fedgrantandloan.gov.ng/ with the FG setting an application deadline of Monday, 18th December, 2023.
The Federal Government has enjoined all the eligible beneficiaries who meet all the selection criteria to reach out to their representatives for shortlisting.
