FG Discloses Conditional Grant Scheme For Traders.

Federal Government says it has rolled out a Presidential Conditional Grant Scheme to empower Nano businesses as part of the Presidential Palliative Programme.

According to a statement by the Bank of Industry, the scheme offers grants, without repayment obligations, to eligible small business owners operating in various sectors such as trading, food services, ICT, transportation, creative and artisans.

The PCGS targets 70 per cent women and youth, 10 per cent people with disabilities, and 5 per cent senior citizens, with the remaining 15 per cent distributed to other demographics, by focusing on this often-overlooked group of business owners, the program seeks to unlock the potential of Nigeria’s burgeoning entrepreneurial ecosystem and drive sustainable economic development at the grassroots level, while, the initiative is implemented by the Federal Ministry of Industry, Trade and Investment with the Bank of Industry as the executing agency.

The N50,000 grant per beneficiary will reach one million small businesses in the 774 local government areas and the six council areas in the Federal Capital Territory, while, the beneficiaries of the initiative have been selected through a process that includes the verification of each business owner through their National Identification Number and Bank Verification Number.