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How to apply for federal government loan

The Nigerian government, through the Federal Ministry of Industry, Trade, and Investment, is launching two impactful initiatives to cushion the effects of the fuel subsidy removal.

Meet Dr. Nkiruka Uzoka-Anite, the Minister: Dr. Uzoka-Anite unveiled these programs aimed at supporting businesses of all sizes.

What’s on Offer? Nano businesses could receive a boost of N50,000 through the Presidential Conditional Grant Programme, while MSMEs and manufacturers have the opportunity to access substantial loans of up to N1 million and N1 billion, respectively.

Targeting the Right Demographics: The focus is on supporting 70% women and youth, 10% people with disabilities, and 5% senior citizens, with the rest distributed among other demographics.

Who’s Eligible to Apply? If you’re in one of these sectors—traders, food services, ICT, transportation, creatives (including makeup artists, fashion designers, and dry cleaners), or artisans (such as vulcanizers, shoemakers, painters, and repairers)—you could be eligible.

Criteria for Grant Eligibility: Own a nano business with a vision to grow? You’re in! Additional staff member needed? Check. Got a proof of residential/business address in your Local Government Area? Great! Don’t forget to provide your personal and bank account information, including your Bank Verification Number (BVN) for identity verification. Important: Meet the application submission deadline!

Ready to Apply? Head over to fedgrantandloan.gov.ng, click ‘apply for grant’, and get started on securing support for your business.

This is an Opportunity You Don’t Want to Miss: The government is extending a helping hand to businesses, and yours could be next in line for support!

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