The federal government of Nigeria is pleased to announce the commencement of the Presidential Conditional Grant Scheme (PCGS) for NANO businesses across the 36 states of the federation.
The scheme, conceived by the Bola Tinubu-led administration, is part of the Presidential Palliative Program, targeted at cushioning the hardship brought upon businesses across the country due to the removal of fuel subsidies on May 29, 2023.
In this article, Naijanationnews will guide you through the application process to help you apply and successfully get the needed financial assistance that you need to keep your business afloat in these trying times for businesses in Nigeria.
Before we go into the details, however, we need to first understand what a nanobusiness is.
What Is Nano Business In Nigeria?
According to the Small and Medium Enterprises Development Agency of Nigeria, a nanobusiness (you can call it a small business) is any enterprise that has one or two staff [worker(s)] with a yearly total revenue of N1, 000, 000 (one million Naira). Going by this definition, we believe that you now understand what a nanobusiness is, and you can also decipher if your business is qualified for this grant or not.
List Of Small Businesses That Can Apply for the Presidential Conditional Grant Scheme (PCGS)
The following are the types of businesses that can apply for and get this grant:
Food Services: The businesses in this category include food and vegetable sellers.
Information and Communication Technology (ICT): In this category are recharge card sellers, call center operations, and other small businesses.
Artisans: Vulcanizers, Shoemakers, Painters, and Repairers
Creatives: fashion designers, laundry service, and makeup artists.
Transportation: Independent Dispatch Riders and Wheelbarrow Pushers.
Traders: single retail marketers, corner shop owners, petty traders, market men, and women in open markets.
What Are the Eligibility Criteria for the Presidential Conditional Grant Scheme (PCGS)
To qualify for this grant, you must:
Own any of the small businesses listed above.
Run a business that contributes to the growth of the Nigerian economy, with a desire to grow it bigger.
Be willing to employ one more staff member to work with you if your business meets your yearly total revenue target.
Provide evidence of business ownership and the address of the location of your business.
Provide details of your bank account, including Bank Verification Number (BVN) and National Identification Number (NIN) for authentication of your identity as a Nigerian.
Documents Needed For Verification
Business address
BVN and NIN
How To Apply for the Presidential Conditional Grant Scheme (PCGS)
If you are interested in obtaining this grant, please click this link to apply for the grant on the official website set up by the federal government: https://grant.fedgrantandloan.gov.ng/
Summary
This grant is the brainchild of President Bola Tinubu’s Renewed Hope Agenda. The opportunity is open to all citizens of Nigeria, irrespective of tribe, language, and religious beliefs. All you need to do is apply through the website and submit all the necessary requirements.
Thank you for reading this article to this point. It shows that you are indeed interested in getting this grant in order to take your business to the next level. If you have any questions, please drop them in the comment section, and we will respond.
