The Presidential Conditional Grant Scheme (Reopened) for 2024 Applications
Applications are now open for the Presidential Conditional Grant Scheme 2024. Here’s what you need to know about the grant.
About The Scheme
The grant sum is N50,000.00 (Fifty Thousand Naira) per beneficiary, and it is designed to reach one million nano businesses in the 774 local government areas.
The Federal Government will collaborate with the State Governments, Honourable Ministers, NASME (Nigerian Association of Small and Medium Enterprises), Senators, and House of Representative Members, who will use the Federal Government’s selection criteria below to shortlist the beneficiaries from their constituents.
Collaboration Goal:
The aim is to shortlist beneficiaries for a program or initiative, likely one that provides financial aid or resources.
The Selection Process:
- Federal Government Sets Criteria: The national government establishes the guidelines for who qualifies for the program. This criteria might consider factors like income level, business type, or location.
- Collaboration with Others: The federal government partners with:
- State Governments: They will likely have access to data on potential beneficiaries within their states.
- Ministers: Depending on the program’s focus, relevant ministers (e.g., Minister of Trade) might have specific expertise in selecting suitable beneficiaries.
- NASME: Their involvement ensures the program benefits the intended audience (small and medium businesses).
- Senators & House Members: Given their constituency-based roles, they can help identify potential beneficiaries within the areas they represent.
- Shortlisting Beneficiaries: Using the federal government’s criteria, all the collaborating parties will work together to identify individuals or businesses that qualify for the program from their areas of influence.
This collaborative approach aims to ensure a wider reach and fairer selection process for the program’s beneficiaries.
The target beneficiaries are 70% women and youth, 10% people with disabilities, and 5% senior citizens, while the remaining 15% is distributed to other demographics.
Grant Eligibility Criteria
- Own a nano business.
- Operate a business with progressive economic potential, and desire to grow the business.
- Be willing to engage at least one additional staff member if turnover increases
- Be willing to provide proof of residential/business address in the Local Government Area
- Provide relevant personal and bank account information, including Bank Verification, (BVN) for verification of identity and National Identification Number (NIN)
The Target Sectors for the Scheme
Below are the business that are eligible to apply to the scheme
- Traders: These include single retail marketers, corner shop owners, petty traders, market men and women in open markets
- Food Services: These include food and vegetable Vendors
- ICT: These include business centre operators, battery chargers, recharge card vendors, call centre agents
- Transportation: These include wheelbarrow pushers, independent dispatch riders
- Creatives: These include makeup artists, fashion designers, drycleaners.
- Artisans: These include vulcanizers, shoemakers, painters, repairers.
Activities
The Federal Government will collaborate with the State Governments, Honourable Ministers, NASME (Nigerian Association of Small and Medium Enterprises), Senators, and House of Representative Members, who will use the Federal Government’s selection criteria below to shortlist the beneficiaries from their constituents.
The target beneficiaries are 70% women and youth, 10% people with disabilities, and 5% senior citizens, while the remaining 15% is distributed to other demographics.
The program prioritizes supporting women, youth, people with disabilities, and senior citizens. These groups are often more vulnerable and in need of assistance. The remaining 15% of the beneficiaries will come from other demographics. This ensures that the program benefits a wide range of people.
