FG Invites Nigerians to Apply for N50,000 Cash Grant

The federal government of Nigeria has announced an exciting opportunity for Nigerians to apply for a N50,000 cash grant as part of the Presidential Conditional Grant Scheme. This initiative aims to support micro, small, and medium enterprises (MSMEs) and nano businesses across the country.

According to the Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, nearly four million Nigerians have already applied for the grant, but only one million will benefit. The minister encouraged eligible businesses to apply, stating that the disbursement process is ongoing and can be tracked on the official website.

To be eligible for the grant, businesses must meet certain criteria, including operating a nano business with progressive economic potential, being willing to engage additional staff, and providing proof of residential and business addresses. Applicants must also submit relevant personal and bank account information, including Bank Verification (BVN) for verification of identity.

The minister also announced that the federal government will commence disbursement of N150 billion in loans to MSMEs and manufacturers by the end of July 2024. This loan program is part of the government’s efforts to support the growth and development of small businesses in Nigeria.

Interested applicants can apply for the Presidential Conditional Grant Scheme and loan programs through the official website: grant.fedgrantandloan.gov.ng.

Don’t miss out on the FG 50,000 cash grant