The federal government has initiated the disbursement of the N50,000 Presidential Conditional Grant Scheme, also known as the Trade Grants Scheme, targeting small enterprises.
Nano businesses, defined as tiny enterprises with one or two employees and an annual income below N3 million, are eligible for this grant.
Honourable Minister of Industry, Trade, and Investment, Mrs. Doris Uzoka-Anite, announced the commencement of the grant distribution. While some businesses have already received grants, the process will continue in stages.
A significant number of verified applicants will receive grants by April 19th, 2024.
Not all applicants will receive grants immediately, as the disbursement is occurring in phases. However, all verified applicants will eventually receive their grants.
The Ministry assures applicants of fair and careful processing, urging patience as the process unfolds.
The Trade Grant Scheme offers non-repayable financial aid to eligible small business owners in various sectors, including trading, food services, ICT, transportation, creative industries, and artisanal crafts.
The program prioritises empowering women, young people, persons with disabilities, and senior citizens.
The N50,000 grant aims to benefit one million small businesses across all 774 local government areas and the Federal Capital Territory ( FCT), promising a significant impact on communities nationwide.
