Federal Government Grants For Business – The Federal Government of Nigeria, through the Bank of Agriculture (BOA) invites small and medium scale business, and farmers to apply for 2024/2025 Grants. See requirements and how to start application process below.
Two programs are being launched by the Federal Government of Nigeria: the Presidential Conditional Grant Program and the Presidential Palliative Loan Program. Both programs are overseen by the Federal Ministry of Industry, Trade, and Investment.
The minister of Industry, Trade and Investment, Dr Nkiruka Uzoka-Anite, said the programmes aim to alleviate the effects of removing fuel subsidies.
Nano businesses will receive an N50,000 grant, while MSMEs and manufacturers will access loans up to N1 million and N1 billion, respectively.
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.
Read Also: NYIF Application Portal Login.
Requirements and Eligibility Criteria For FG N50,000 Grants For Nano Business
- Must be a Nigerian
- Must have existing 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 Federal Government Grants For Business – FG N50,000 Grants For Nano Business
Businesses that fall into the six categories below can apply:
| Traders |
| Food services |
| ICT |
| Transportation |
| Creatives (makeup artists, fashion designers and dry cleaners.) |
| Artisans (vulcanizers, shoemakers, painters, repairers). |
About Bank of Agriculture
Bank of Agriculture is a Nigerian government sponsored development bank that provides credit facilities to both small and large scale farmers and small businesses within rural areas.
An outcome of a restructuring of government sponsored microcredit institutions, the bank was formed in 2000 and assumed the assets of the National Agriculture and Cooperative Bank, People’s Bank and the Family Economic Advancement Project.
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