The Federal Government has started giving out N50,000 grants to nano businesses all over Nigeria. These grants are part of a program called the Presidential Conditional Grant Scheme also known as the Trade Grants Scheme. It’s meant to help very small businesses, called nano businesses, grow and do better.

Nano businesses are really small businesses that usually have just one or two workers. They also don’t make a lot of money – less than N3 million a year, according to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

Doris Uzoka-Anite, who is the Minister of Industry, Trade and Investment, announced this good news on Tuesday in Abuja. She said that the government has already started giving out grants to some lucky businesses. This is just the beginning – more businesses will get their grants soon.

According to Uzoka-Anite, a lot more businesses will get their grants on Friday, 19th April 2024. This is part of the plan to give out grants in stages.

This is really good news for small businesses in Nigeria. Getting this money can help them buy things they need for their businesses, like equipment or materials. It can also help them expand and hire more workers. Overall, it’s a big help for these small businesses to grow and succeed.

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The government’s plan is to support as many small businesses as possible through this program. By giving out these grants, they’re giving a boost to the economy and helping create more jobs. It’s a win-win for everyone involved.

Uzoka-Anite emphasized that every verified applicant would eventually get their grants in the following stages.

“We are happy to let you know that we’ve started giving out grants through the Presidential Conditional Grant Programme. Some lucky people have already received their grants, which is just the beginning of our plan.

“By Friday, 19th April 2024, a lot more verified applicants will get their grants. But remember, not everyone will get their grants on that day. We’re working hard to make sure everyone gets what they deserve.

“Please be patient as we go through all the applications carefully and fairly. Our plan is to make sure every application gets the attention it needs.

“This is good news for small businesses in Nigeria. These grants can really make a difference, helping them grow and succeed. And we’re committed to making sure every verified applicant gets their fair share.”

With this phased approach, the government aims to ensure that all deserving applicants receive the support they need to thrive in their businesses.

The Trade Grant Scheme was supposed to start on March 9, 2024. It gives money to small business owners in different areas like trading, food services, ICT, transportation, and arts and crafts. The best part? They don’t have to pay the money back.

The plan is to help lots of different people. They want 70% of the beneficiaries to be women and young people, 10% to be people with disabilities, and 5% to be older people. The rest will go to other people who need it.

The Minister of Industry, Trade and Investment explained that each person who qualifies will get N50,000. This money will go straight into their bank accounts. They hope to help one million small businesses in all the local government areas and council areas in the Federal Capital Territory.

With a goal of helping 1,000,000 people in each local government and the FCT, Uzoka-Anite believes this program can really make a big difference in communities all over Nigeria.

With these grants, small businesses can do more and make Nigeria stronger. They can hire more people, buy better equipment, and maybe even open new branches. This helps not only the businesses but also the communities they’re in.

So, even though it might take some time, small business owners should stay hopeful. The government is working to make sure everyone gets what they need to succeed. And when small businesses thrive, Nigeria thrives too.

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