MSMEs N75 Billion Loans and N50,000.00 Grant for 1 Million Businesses: Presidential Palliative Program Grant and Loan for Nigerian SMEs.

Presidential Conditional Grant Scheme (PCGS)

The Federal Government of Nigeria is delighted to announce the kickoff of the Presidential Conditional Grant to Nano Businesses as part of the Presidential Palliative Program.

About The Scheme

The grant sum 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. 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.

• The Target Sectors for the Scheme

Below are the business that are eligible to apply to the scheme

• Traders

These include single retail marketers, corner shop owners, petty traders, market men and women in open markets

• Food Services

These include food and vegetable Vendors

• ICT

These include business centre operators, battery chargers, recharge card vendors, call centre agents

• Transportation

These include wheelbarrow pushers, independent dispatch riders

• Creatives

These include makeup artists, fashion designers, drycleaners.

• Artisans

These include vulcanizers, shoemakers, painters, repairers.

• 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.

Key Timelines:

N50b Grants for Nano Businesses (3 Months)

• Start Date: 10th Oct 2023
• Duration: 6 weeks planning, 3 weeks official communication, 6 weeks verification, continuous fund disbursement from 12th Dec 2023.

N75b Loans: MSMEs and Manufacturers

• 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.

Click HERE to Apply