FG reopen presidential conditional Grant scheme application portal to provide financial support to small business in all the LGAs in Nigeria.
Nano business is highly essential both for students and graduates in Nigeria, it is to keep them busy and not lazy.
What to Know
A nano business mean an extremely small business usually manage by just one person. The team Nano emphasizes the small and scope of the business and it is characterized by
- Usually run by just one person.
- They don’t have a lot of resources or money to start with.
- They usually sell to local people or to a specific group of customers.
- They might sell special products or services that are made for certain needs.
- They often use digital tools and platforms to run their business and to advertise.
- They can change quickly to meet new market conditions and customer needs.
- Even though they’re small, they can still make money and keep going.
- Many of these businesses are part of the gig economy, which means they offer opportunities for people to start their own small businesses.
What’s the Presidential Conditional Grant?
The Presidential Conditional Grant Scheme (PCGS) is a significant initiative by the Nigerian government aimed at bolstering the country’s economy. The scheme provides financial assistance to nano businesses, which are very small-scale enterprises typically run by a single person.
Approved Amount by FG of Nigeria
The PCGS offers grants of N50,000 (fifty thousand Naira). This substantial financial aid is set to be distributed to one million nano businesses across Nigeria. The scheme covers all 774 local government areas in the country, ensuring a wide reach and inclusivity.
Advantage of Nano Businesses
The financial boost provided by the PCGS can have a transformative impact on the recipient nano businesses. Here’s how:
Business boost
The grant can be used as capital to expand the business, whether by increasing inventory for traders, upgrading equipment for artisans, or enhancing the range of services for other types of businesses.
Employment Opportunities:
With additional capital, nano businesses can afford to hire new employees. This helps the business grow and contributes to job creation, which benefits the local economy.
Improvements:
The grant can also improve a business’s operations. For instance, businesses can invest in digital tools for better management, marketing, and customer service, increasing efficiency and profitability.
How to Apply
You’re expected to apply online. click to apply https://grant.fedgrantandloan.gov.ng/apply