About the Federal Government Grant
2023 Federal Government Palliative Grant
The Federal Government of Nigeria has rolled out an initiative aimed at bolstering the nation’s small businesses. The FG Palliative Grant – Presidential Conditional Grant Scheme (PCGS) is to sponsor one million nano businesses nationwide, offering a N50,000 Grant to mitigate the economic challenges faced by these enterprises.
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About the Scheme
- Grant Amount: N50,000 per beneficiary
- Target Beneficiaries: One million nano businesses across all 774 local government areas
Selection Criteria:
- 70% Women and Youth
- 10% People with Disabilities
- 5% Senior Citizens
- 15% Other Demographics
Target Sectors:
- Traders
- Food services
- ICT
- Transportation
- Creatives
- Artisan
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Who’s Eligible?
To tap into this grant, your business must meet the following criteria:
- Nano Business (Asset value < N1 million, less than 4 employees, annual turnover < N1 million)
- Operate in the specified target sectors
- Located in Nigeria
- Possess a valid BVN
Understanding Nano Businesses
A nano business signifies a small-scale enterprise, often run by a single individual or a compact team. These businesses operate within confined parameters – with asset values, employee count, and turnover all falling below the N1 million mark annually.
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BVN – A Crucial Identifier
The Bank Verification Number (BVN) serves as a unique biometric identifier ensuring that only eligible beneficiaries receive the grant. It’s an 11-digit code crucial for verification purposes.
Deadline
Not Specified
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