Hi everyone, I’m Money Sharma, a financial analyst with extensive experience in government aid programs. Today, I’m thrilled to discuss two exciting topics you’ve been curious about: the FG Palliative Grant
Here’s why you should be excited:
- The FG Grant offers a whopping N50,000! This can be a big boost for anyone seeking financial support.
Keep reading to learn all the details about these programs, including:
- Eligibility requirements
- Application process
- Important dates and deadlines
- Portal Open
The Nigerian Federal Government has just announced the launch of an application portal for its Presidential Conditional Grant, tailored for Nano Businesses as part of the Presidential Palliative Program.
This groundbreaking scheme proposes a grant of N50,000 for each beneficiary, with the ambitious goal of supporting one million nano businesses across Nigeria’s 774 local government areas.
The selection process, in collaboration with State Governments, National Assembly Members, and NASME, will prioritize 70% allocation to women and youth, 10% to people with disabilities, and 5% to senior citizens, ensuring a diverse and inclusive beneficiary base
FG Palliative Grant: N50,000 Grant for Nano Businesses – Apply Now!
The Federal Government of Nigeria is offering a N50,000 Presidential Conditional Grant to support one million nano businesses across the country. This initiative, known as the FG Palliative Grant – Presidential Conditional Grant Scheme (PCGS), aims to provide financial assistance to small businesses impacted by economic challenges.
About the PCGS:
- Grant amount: N50,000 per beneficiary
- Target beneficiaries: One million nano businesses in all 774 local government areas
- Selection criteria:
- 70% women and youth
- 10% people with disabilities
- 5% senior citizens
- 15% other demographics
- Target sectors:
- Beauty and wellness
- Food and beverage
- Required documents:
- Proof of residential/business address in the local government area (with the closest landmark)
- Account number, account name, and BVN
- Application deadline: December 18, 2023
Who is eligible?
To be eligible for the FG Palliative Grant, your business must meet the following criteria:
- Be a nano business (asset value < 1 million, less than 4 employees, annual turnover < 1 million)
- Operate in one of the target sectors listed above
- Be located in Nigeria
- Have a valid Bank Verification Number (BVN)
How to apply Presidential Conditional Grant Scheme (PCGS)
Eligible beneficiaries should reach out to their representatives (State Governments, Honourable Ministers, NASME, Senators, and House of Representative Members) for shortlisting.
Don’t miss out on this opportunity to receive financial support for your business! Apply for the FG Palliative Grant today!
For the latest news and updates, visit the official website of the scheme.
FG Conditional Grant Scheme (PCGS) Application Process:
The application process for the PPP remains simple and straightforward:
Visit the FG Palliative Loan Scheme Portal: https://grant.fedgrantandloan.gov.ng/apply
Create an account: Sign up with your basic details.
Complete the online application form: Provide accurate information about your business and the requested loan or grant.
Submit your application: Upload necessary documents and supporting evidence.
Wait for assessment: Your application will be reviewed by the program administrators.
Receive notification: You will be informed of the application outcome via email or SMS.
Disbursement: If approved, your loan or grant will be disbursed through your chosen bank account.
Disclaimer: This is not an official government website. Please consult official sources for the latest information and application procedures.
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Frequent Asked Questions
What is a ‘nano business’?
A “nano business” is a very small-scale business entity, often operated by a single individual or a small team, and typically characterized by its limited size and scope.
A Nano business has asset value of value <1m and less than 4 employees with annual turnover <1m.
What is a Bank Verification Number (BVN), and why is it needed for identity verification?
The Bank Verification Number (BVN) is an 11-digit biometric identifier introduced by the Central Bank of Nigeria for customers. It enhances security, reduces fraud, and streamlines financial services by providing a standardised means of verifying and authenticating individual’s identities.
BVN links multiple bank accounts, aids in compliance with regulatory policies, and is used beyond banking for identity verification in various services.
BVN provides a unique identity for each beneficiary.
Do I need to have a registered business name to qualify for this opportunity?
No, The beneficiary is expected to register thereafter
What documents do I need to provide as proof of my residential/business address in the Local Government Area?
Submit business/Residential address with the closest land mark
What personal and bank account information is required for this application
Account number, Account Name and BVN
What does it mean to have a business with ‘progressive economic potential’?
A business that has the ability to create jobs and increase wages