Link to Apply for Presidential Palliative Programs N75B Loan

The Federal Government of Nigeria under the supervision of the Federal Ministry of Industry, Trade and Investment, is rolling out two outstanding initiatives – the Presidential Conditional Grant Programme and the Presidential Palliative Loan Programme.

To apply go to https://apply.fedgrantandloan.gov.ng

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.

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.