Presidential Conditional Grant Scheme for 50k Naira Application Portal
It is no news that the Federal Government of Nigeria recently launched a new empowerment scheme known as Presidential Conditional Grant Scheme (PCGS) as part of the comprehensive Presidential Palliative Program.
Aimed at supporting nano businesses, this program offers a substantial grant of Fifty Thousand Naira (N50,000) per beneficiary, and it has a goal to reach one million nano businesses across the 774 local government areas in Nigeria.
The grant, totaling N50,000 prioritizes specific demographics, allocating 70% to women and youth, 10% to people with disabilities, and 5% to senior citizens. The remaining 15% will be distributed among other demographics.
The PCGS is designed to benefit businesses operating in various sectors, including traders, transportation, food
services, ICT, creatives, and artisans. This diverse approach ensures a broad impact on the economy.
Collaboration and Selection Process
To ensure a fair and efficient selection process, the Federal Government will collaborate with State Governments, Honourable Ministers, NASME, Senators,
and House of Representative Members. These stakeholders will utilize the Federal Government’s criteria to shortlist beneficiaries from their respective constituencies.
Presidential Conditional Grant Scheme Application Portal
Interested and qualified applicants can apply for the PCGS via the official website: https://fedgrantandloan.gov.ng
The application process provides an accessible and streamlined method for businesses seeking financial support.
In addition to the nano businesses, MSMEs and manufacturers have the opportunity to access loans ranging from N50,000 to N1 million and N1 billion,
respectively. This demonstrates the government’s commitment to supporting businesses of various scales.
This program plays a role in alleviating the impacts of the fuel subsidy removal, providing financial assistance to businesses affected by the economic transition.
The Presidential Conditional Grant Scheme is a significant step towards empowering nano businesses across Nigeria. With an inclusive approach and a focus on key sectors, this initiative reflects the government’s commitment to
fostering economic growth and resilience.
Interested parties are encouraged to apply promptly through the official presidential conditional grant scheme application portal to secure this valuable financial support for their businesses.
You may like to read FG Releases Application Portal for N50,000 Conditional Grant.