Link to Apply for Presidential Palliative Programs N75B Loan | fedgrantandloan.gov.ng
Link to Apply for Presidential Palliative Programs N75B Loan | fedgrantandloan.gov.ng: 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.
In a bold move to empower Small and Medium-sized Enterprises (SMEs) in Nigeria, the government is introducing a revolutionary Cash Disbursement Management Platform.
This innovative initiative aims to provide much-needed financial support to SMEs through loans and grants, fostering economic growth and prosperity across the nation.
The PCGS SMEs thrive, create jobs, and contribute significantly to the nation’s economic development; the government is taking a proactive approach by launching the Cash Disbursement Management Platform to effectively;
Access to capital for business expansion
Enhanced financial stability
Job creation and economic growth
Opportunity to thrive and prosper
Increased competitiveness
The Target Sectors for this Grant
Below are the businesses 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 center operators, battery chargers, recharge card vendors, call centre agents
Transportation
These include wheelbarrow pushers, independent dispatch riders
Creative
These include makeup artists, fashion designers, and dry cleaners.
Artisans
These include vulcanizers, shoemakers, painters, and repairers.
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
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.
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Key Features
Transparent and Efficient:
We prioritize transparency and efficiency, ensuring that funds are disbursed swiftly to deserving businesses.
Transparent and Efficient:
The platform leverages cutting-edge technology to make the entire process accessible through smartphones and computers, allowing SMEs to apply from anywhere.
Transparent and Efficient:
We understand the importance of financial education. Therefore, our platform provides resources and training to empower SMEs with the knowledge to manage their funds effectively.