Presidential Conditional Grant Scheme Application – Full Guide

Presidential Conditional Grant Scheme Application – Full Guide

Presidential Conditional Grant Scheme Application - Full Guide

The Federal Government has introduced the Presidential Conditional Grant Scheme (PCGS) to bolster Nano businesses under the Presidential Palliative Program.

Who is this Grant for?

Effective from March 9, 2024, this scheme provides non-repayable financial grants to qualifying small business owners in sectors like trading, food services, ICT, transportation, creatives, and artisans. Specifically, 70% of the beneficiaries are women and youth, 10% are individuals with disabilities, 5% are senior citizens, with the remaining 15% allocated to other demographics.

By directing attention towards these often marginalized business owners, the program aims to tap into Nigeria’s growing entrepreneurial landscape, fostering sustainable economic progress at the grassroots level.

How Much Will Each Beneficiary Receive?

Each beneficiary will receive a N50,000.00 (Fifty Thousand Naira) grant directly deposited into their accounts, impacting one million small businesses across the country’s 774 local government areas (LGAs) and six council areas in the Federal Capital Territory (FCT). With a goal of 1,000,000 beneficiaries per LGA and the FCT, the initiative has the potential for significant nationwide impact.

Applicants for the scheme underwent a stringent selection process, requiring verification through their National Identification Number (NIN) and Bank Verification Number (BVN). Successful candidates met specific criteria, including owning a small business with growth potential, a commitment to expansion, and the ability to hire additional staff when necessary. Additionally, applicants provided proof of residence/business address and relevant personal and bank account details by the December 18, 2023 deadline.

The Presidential Conditional Grant Scheme demonstrates the government’s dedication to supporting small-scale entrepreneurs and fostering inclusive economic growth. With its focus on empowerment and inclusivity, the PCGS is poised to create meaningful change in the lives of small business owners and their communities throughout Nigeria.

The implementation of this initiative falls under the purview of the Federal Ministry of Industry, Trade and Investment, with the Bank of Industry serving as the Executing Agency.

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