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The Federal Government has opened an application for FG Presidential Conditional N50,000 Grants and Loan Programme/Scheme Application to nano businesses in all 774 local government areas in the country as part of efforts towards assuaging the impact of subsidy to small businesses.
The Federal Government Palliative Grant and Loan Programme is presidential palliative funding set to begin disbursement of the sum of N50,000 to nano business.
About Federal Government Conditional N50,000 Grant and Loan Programme
The Federal Government, through the Federal Ministry of Industry, Trade and Investment and Small and Medium Enterprises Development Agency of Nigeria will collaborate with state and local governments, federal legislators, federal ministers, banks and other stakeholders.
Has the FG Presidential Conditional Grants & Loans Programme Commenced Registration?
Yes!! The portal for the FG Presidential Palliative Grants & Loans registration is now open for registration. And you can register for FG Conditional Grants & Loans Programme 2023
The Federal Government of Nigeria has released an application portal for its Presidential Conditional Grant for Nano Businesses under the Presidential Palliative Program.
Federal Government Conditional/Palliative Grant and Loan Programme
Federal Government to Disburse N125 Billion Grant and Loan to SMEs and Manufacturers, The federal government has stated that the grant and loan programs are expected to benefit over 2 million businesses across the country.
There are different programmes and the one you select depends on your choice and the requirements you possess. Below are some of the different FG Presidential Conditional Grant and loan programmes
FG Presidential Conditional Grant Programme
In a move to alleviate the impact of fuel subsidy removal, the federal government has announced plans to disburse N125 billion in grants to small and medium-sized enterprises (SMEs) and manufacturers across the country.
The FG Conditional N50,000 Grant Programme will be administered through the Federal Ministry of Industry, Trade and Investment (FMITI) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) will provide N50,000 grants to nano businesses across the 774 local government areas in Nigeria.
Eligible citizens/applicants who are major business owners must be willing to provide proof of residential/business address in their local government area and provide relevant personal and bank account information, including Bank Verification Number (BVN) for identity verification.
FG Presidential Conditional Loan Programme
In a measure to alleviate the impact of fuel subsidy removal, the federal government has announced plans to disburse N125 billion in grants to small and medium-sized enterprises (SMEs) and manufacturers across the country.
The FG Presidential Conditional Palliative N1 million Loan Programme will provide presidential palliative loans of up to N1 million to MSMEs and N1 billion to manufacturers.
The loans will be provided at a single-digit interest rate of 9% and will have a repayment period of 3 years for MSMEs and 5 years for manufacturers.
Eligible businesses must be able to demonstrate that they have been negatively impacted by the removal of fuel subsidies.
Deadline For FG Presidential Conditional/Palliative Grant Loan Programme Application
Application for The FG Palliative Conditional Grant & Loan Scheme 2023 has started. Do you want to apply for the FG Conditional Grant and Loan Programme? The application portal has just opened and the FG Presidential Conditional Grant Loan Programme 2023 Application is currently ongoing and the deadline is 18th December 2023.
FG Presidential Conditional Grants & Loans Programme/Scheme Target Sectors
The Federal Government Palliative Grant and Loan Scheme will collaborate with State Governments, Honourable Ministers, NASME, Senators, and House of Representative Members to provide funding for the following business target sectors for the scheme.
The following businesses are eligible to apply for the scheme:
Traders: Single retail marketers, corner shop owners, petty traders, and market men and women in open markets.
Food Services: Food and vegetable vendors.
ICT: Business centre operators, battery chargers, recharge card vendors, and call centre agents.
Transportation: Wheelbarrow pushers and independent dispatch riders.
Creatives: Makeup artists, fashion designers, and dry cleaners.
Artisans: Vulcanizers, shoemakers, painters, and repairers.
Eligibility For Federal Government Palliative Conditional Grant and Loan Programme
To be eligible for the Palliative Grant, you must meet specific criteria:
Personal Identification: Proof of valid personal information, full name, residential address, and phone number
Age Requirement: Applicants must be 18 years and above
Proof of Residence: Applicants must provide proof of residence to establish eligibility. You will provide your residential address, state of residence and Local Government of Residence
Banking Details Provide your desired bank account details for the disbursement of funds.
Business Information: For Palliative Loan Applicants Applicants who choose to apply for the FG Palliative Loan Programme need to provide your business information: business type, registered business/company name with CAC, registration number, business operation address and preferred disbursement bank account.
Proof of Citizenship: Applicants must provide proof of Nigerian citizenship to qualify for assistance. This requires the provision of your National Identification Number (NIN) or your BVN.
Financial Need: You must demonstrate evidence of financial need to be considered.
Please Note: Applicants must meet and provide all the needed information required to successfully submit your application FG Presidential Palliative Grants & Loans Programme.
Meeting these requirements is essential, but it’s important to note that eligibility for the FG Presidential Palliative Grants & Loans Programme application doesn’t guarantee automatic qualification.
Selection of candidates is based on a thorough assessment of the applicant’s financial situation and level of need.
Portal FG Presidential Conditional Grant & Loan Scheme
FG Palliative Grant and Loan Programme/Scheme Key Timeline
N50b Grants for Nano Businesses (3 Months)
Duration: 6 weeks planning, 3 weeks official communication, 6 weeks verification, continuous fund disbursement from 12th Dec 2023.
N75b Loans: MSMEs and Manufacturers
Duration: 6 weeks planning, continuous call to entry, revolving fund disbursement from 5th Dec 2023, repayments starting 5th June 2024.
How to Apply For FG Palliative Grant and Loan Programme 2023
Start your Registration for FG Palliative Grant and Loan Programme 2023- Form Portal. Are you interested in registering for the Federal Government (FG) Palliative N50,000 Grant and Loan Programme? If yes, then visit the FG Palliative Grant & Loan Application Portal and start your registration
Or Got to Apply Website/Page