FG Updates on Ongoing N50,000 Grants Payment, Application, How to Apply


The Nigerian government is currently distributing N50000 grants to help people. The goal is to support one million people. So far, 150000 people have received the grant.

Doris Uzoka-Anite, the Minister of Trade and Investment, shared this update on her official social media page. She assured the public that the grant disbursement is ongoing. She mentioned that if you are waiting for your grant, please be patient. A list of all grant recipients will be shared soon to ensure transparency.

This grant distribution began last week. It is part of President Bola Ahmed Tinubu’s plan to help citizens after the removal of fuel subsidies. In December, the government launched a website for people to register for the Presidential Conditional Grant Scheme if they needed financial assistance.

Updates on Presidential Grant

Over 100000 small businesses in Nigeria recently received N50000 each through the Presidential Conditional Grant Scheme, also known as the Trade Grants Scheme. Doris Uzoka-Anite stated that these businesses typically have one or two employees and make less than N3 million per year. The plan is to give this grant to 1291 businesses in each local government area.

This plan started in December 2023 under the Presidential Support Programme. The government saved N200 billion to help small businesses. The launch was set for March 9, 2024. The Trade Grant Scheme supports businesses in trading, food services, ICT, transportation, creative arts, and artisan work. These grants do not need to be repaid..

Last Wednesday, the minister announced that the grant distribution had begun. She also mentioned that more businesses would receive grants as they gather more verified information from the states. To qualify for the grant, businesses must meet certain criteria. They must be micro-businesses with a Bank Verification Number (BVN) and National Identification Number (NIN). Eligible businesses will receive N50000 directly in their bank accounts.

Minister Uzoka-Anite aims to help one million micro-businesses across Nigeria’s local government areas. About 100000 businesses have already received the money, and efforts are ongoing to reach the one million target.

This news comes after President Tinubu announced eight months ago that grants would be given to manufacturers and small businesses. It follows a recent request for businesses to submit their National Identification Numbers (NINs). This move is intended to help businesses cope with recent economic changes in the country.

How to Apply

Check Eligibility

Make sure you meet the eligibility criteria set by the scheme. Typically, this includes being a micro-business with one or two employees and an annual turnover below N3 million.

Gather Required Documents

Collect all necessary documents for the application process. This usually includes your Bank Verification Number (BVN) and National Identification Number (NIN).

Submit Application

Submit your application through the designated channel. This could be an online portal or a physical application form, depending on the instructions provided by the scheme organizers.

Verification Process

After submitting your application, it will go through a verification process to confirm your eligibility and the authenticity of the information provided.

Grant Disbursement

If your application is successful and passes the verification process, you will receive the grant amount directly into your bank account. This disbursement is typically done electronically.

Follow-Up

Stay informed about any messages from the scheme organizers about your application status. Make sure to comply promptly in case of any additional requirements or updates.

By carefully following these steps, you can successfully apply for the Presidential Grant Scheme and access the financial support offered to micro-business owners.

Leave a Comment