The Federal Government of Nigeria is delighted to announce the commencement of the Federal Government Grant to businesses as part of the Presidential Palliative Program.

The federal government grant is ₦50,000.00 (Fifty Thousand Naira) per beneficiary, and it is designed to reach one million businesses in the seven hundred and seventy four 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.

THE TARGET SECTORS FOR THE FEDERAL GOVERNMENT GRANT

Below are the business that are eligible to apply to the federal government grant

A) Traders: Traders can apply for the federal government grant, traders include single retail marketers, corner shop owners, petty traders, market men and women in open markets.

B) Food Services: Food services can apply for the Federal Government grant, food services include food and vegetable vendor.

C) Information and Communications Technology (ICT): Individuals involved in ICT can apply for the federal government grant, these include business centre operators, battery chargers, recharge card vendors, call centre agents.

D) Transportation: Individuals involved in transportation can apply for the federal government grant, these include wheelbarrow pushers, independent dispatch riders.

E) Creatives: Individuals involved in creatives can apply for the federal government grant, creatives include makeup artists, fashion designers, drycleaners.

F) Artisans: Artisans can apply for the federal government grant, Artisans include vulcanizers, shoemakers, painters, repairers.

ELIGIBILITY CRITERIA FOR THE FEDERAL GOVERNMENT GRANT

1) Applicants for the federal government grant must own a business.

2) Applicants for the federal government grant must operate a business with progressive economic potential, and desire to grow the business.

3) Applicants for the federal government grant must be willing to engage at least one additional staff member if turnover increases.

4) Applicants for the federal government grant must be willing to provide proof of residential/business address in the Local Government Area.

5) Applicants for the federal government grant must provide relevant personal and bank account information, including Bank Verification, (BVN) for verification of identity and National Identification Number (NIN).

Eligible applications which meet the selection criteria will be shortlisted.

FREQUENTLY ASKED QUESTIONS WITH RESPECT TO THE FEDERAL GOVERNMENT GRANT

Question: How do I get the official Federal Government Grant application link?

Answer: You can get the official federal government grant application link to apply by sending a private message to WhatsApp number 08029815618, service charge applies.

Question: What is a 'business'?

Answer: A business is a very small-scale entity, often operated by a single individual or a small team, and typically characterized by its limited size and scope.

Question: What is a Bank Verification Number (BVN), and why is it needed for identity verification?

Answer: The Bank Verification Number (BVN) is an 11-digit biometric identifier introduced by the Central Bank of Nigeria for customers. It enhances security, reduces fraud, and streamlines financial services by providing a standardised means of verifying and authenticating individual's identities.
BVN links multiple bank accounts, aids in compliance with regulatory policies, and is used beyond banking for identity verification in various services. BVN provides a unique identity for each beneficiary.

Question: Do I need to have a registered business name to qualify for this federal government grant?

Answer: No, a registered business name or CAC is not required.

Question: When is the deadline for submitting the application for this federal government grant?

Answer: Deadline will be communicated later

Question: What documents do I need to provide as proof of my residential/business address in the Local Government Area?

Answer: Submit business/Residential address with the closest land mark

Question: What personal and bank account information is required for this federal government grant.

Answer: Account number, Account Name, BVN and NIN

Question: What does it mean to have a business with 'progressive economic potential'?
Answer: A business that has the ability to create jobs and increase wages