The presidency has announced the continuation of the 50k payment for the presidential conditional grant under the Presidential Palliative Program for nano businesses across the country.

The payments which have since begun last month March, have witnessed tremendous success and the government aims to expand the program to reach more businesses.

However, the government is delighted to announce the continuation of payment.

About The Presidential Conditional Grant Scheme

The grant is a cash of N50,000 (fifty thousand naira) for each beneficiary and is designed to reach 1 million nano businesses in the 774 local government areas in Nigeria.

The federal government has collaborated with State Governments, Honourable Ministers, NASME (Nigerian Association of Small and Medium Enterprises), Senators, and House of Representative Members, who will use the government selection criteria to select beneficiaries from their constituency.

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.

Target Businesses and Persons

Traders - These include single retail marketers, corner shop owners, petty traders, and market men and women in open markets.
Food services - These include food, vegetable, and drinks vendors.
ICT - These include business center owners, battery chargers, phone engineers, POS operators, and call center agents.
Creative - These include makeup artists, fashion designers, and laundry operators.
Artisans - These include vulcanizers, shoemakers, painters, and repairers.

Grant Eligibility Requirements

To be eligible, applicants must meet the following grant requirements for the scheme.

Own a nano business.
Operate a business with progressive economic potential, and desire to grow the business.
Be willing to engage at least one additional staff member if turnover increases
Be willing to provide proof of residential/business address in the Local Government Area
Provide relevant personal and bank account information, including Bank Verification, (BVN) for verification of identity
Meet the application submission deadline

How To Apply For The Presidential Conditional Grant

Interested persons and those who have not applied before for the grant can do so knowing fully well the requirements.

Having understood the program and the applicants meet the requirements, they can apply by visiting the official website which will be shared in this post.

Follow the steps

1. Visit https://grant.fedgrantandloan.gov.ng/apply

2. Enter your name, BVN, NIN phone number, residential address, business type, state of origin and bank account details

3. Click Submit request

You have applied for the grant. Stay tuned for updates from the government on the application process through the website.

FG Announce Continuation of Payment

As the payment continues, beneficiaries' information will be updated in the portal.

Key Takeaways

Only trust information from the official portal for reliable news and shortlisting. Successful beneficiaries will be updated on the website.
The grant program is a fantastic opportunity for small businesses in Nigeria. If you think your business qualifies, be sure to stay informed and apply.

Frequently Asked Questions (FAQs)

1. How much is the grant amount?

50k per beneficiary will be given to successful and shortlisted candidates

2. Who can apply for the grant?

The program prioritizes women and youth-driven businesses. For people with disability, senior citizens will be given only 5%.

3. What type of businesses are eligible?

Many small business types qualify, including traders, food vendors, ICT businesses, transportation providers, creative businesses, and artisans (see details above for specific examples).

4. Where can I get more information?

Stay tuned for updates from the government which will be published on the official website.