The Federal Government Offers Nano Business Loans and Grants Up to N50,000—How to Apply

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The Federal Ministry of Industry, Trade and Investment oversees two programs that the Nigerian federal government is launching: the Presidential Palliative Loan Programme and the Presidential Conditional Grant Programme.

According to Dr. Nkiruka Uzoka-Anite, minister of industry, trade, and investment, the programs are designed to help mitigate the impact of the gasoline subsidy elimination.

Fullscreen PlayUnmute Nano businesses will get a grant of N50,000, while micro, small, and medium-sized enterprises (MSMEs) and manufacturers can get loans of up to N1 million and N1 billion, respectively.

Seventy percent of the recipients will be young people and women, ten percent will be persons with disabilities, five percent will be seniors, and the remaining fifteen percent will go to other groups.

Are You Eligible to Apply?

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