Would you like to receive notifications on latest updates of the following headlines?

Fg Unveils Presidential Conditional Grant Scheme For Nano Business

POSTED ON March 16, 2024 •   BUSINESS      BY Suleiman Jimoh

 

President Bola Ahmed Tinubu
President Bola Ahmed Tinubu

The Federal Government has rolled out Presidential Conditional Grant Scheme, (PCGS), to empower Nano businesses across the country as a form of Presidential Palliative Programme for Nano businesses.


The scheme, which commenced last weekend, offers financial grants, without repayment obligations, to eligible small business owners operating in various sectors such as trading, food services, ICT, transportation, creatives and artisans.

In a statement made available to Vanguard, the initiative is being implemented by the Federal Ministry of Industry, Trade and Investment with the Bank of Industry as the executing agency.

The agency explained that the PCGS targets 70 percent women and youth, 10 percent people with disabilities, five percent senior citizens, and 15 percent distributed to other demographics.

“By focusing on the often-overlooked group of business owners, the program seeks to unlock the potential of Nigeria’s burgeoning entrepreneurial ecosystem and drive sustainable economic development at the grassroots level.

“The N50, 000.00 grant per beneficiary will reach one million small businesses in the 774 local government areas (LGAs) and the six council areas in the Federal Capital Territory (FCT).

“With a target of one million beneficiaries in every LGA and the FCT, the program has the potential to impact communities nationwide significantly.

READ ALSO
FG Urges Project Accountants to Prioritize Integrity in Fund Management
BY Abiodun Saheed Omodara July 25, 2025 0

The Federal Government has cautioned project accountants and financial officers to prioritize care a...

READ ALSO
Electricity Tariffs: Power Firms Push Back Against State Negotiations
BY Abiodun Saheed Omodara July 24, 2025 0

On Wednesday, energy commissioners from all 36 states announced their willingness to engage with pow...

READ ALSO
CBN Maintain Interest Rate at 27.5%
BY Abiodun Saheed Omodara July 22, 2025 0

The Central Bank of Nigeria (CBN) has decided to keep the country's Monetary Policy Rate (MPR) at 27...

READ ALSO
Economic Reforms Slash Nigeria's Debt Servicing from 97% to 50%- Oloyede
BY Abiodun Saheed Omodara July 22, 2025 0

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, revealed th...

READ ALSO
CBN, Private Sector Raise Concerns Over Nigeria Customs' B’Odogwu Digital Clearance System
BY Abiodun Saheed Omodara July 21, 2025 0

The Central Bank of Nigeria (CBN) and the organized private sector have expressed concerns regarding...

READ ALSO
Nigeria-Egypt Trade Surges by 68%, Foreign Minister Highlights Trade Imbalance
BY Abiodun Saheed Omodara July 21, 2025 0

Trade between Nigeria and Egypt has seen a significant increase of 68.45 percent over the past year....

READ ALSO
Enugu State Cuts Electricity Tariff for Band A Customers to N160/kWh, Effective August 1, 2025
BY Abiodun Saheed Omodara July 21, 2025 0

The Enugu State Electricity Regulatory Commission has released a new tariff order for MainPower Elec...

READ ALSO
Naira Weakens 0.14% Despite Initial Gains, Closing at 1,532.34/$
BY Abiodun Saheed Omodara July 21, 2025 0

The naira ended the past week weaker than the week before, depreciating by 0.14% week-on-week to rea...

OUR CHANNELS:

Russia Targets Ukraine, Claims Lives in Dnipro and Rostov
BY Abiodun Saheed Omodara July 26, 2025 0

Russia carried out strikes on various regions of Ukraine overnight, with officials reporting one fat...


Panic among Nigerians in the UK as New Visa Regulations Threaten Employment
BY Abiodun Saheed Omodara July 27, 2025 0

Panic has taken hold of numerous Nigerians employed in the United Kingdom under Certificate of Spons...


FG Mandates GPS Coordinates for Capital Projects Over N150 Million in 2025
BY Abiodun Saheed Omodara July 27, 2025 0

The Federal Government has required that all Ministries, Departments, and Agencies provide the Globa...


Ghana Immigration Service Arrests Over 50 Nigerians in Major Cyber Fraud
BY Abiodun Saheed Omodara July 26, 2025 0

The Ghana Immigration Service on Thursday arrested over 50 Nigerians for their alleged involvement i...


FG Acts to Rescue Stranded Nigerian Workers in Central African Republic
BY Abiodun Saheed Omodara July 27, 2025 0

The Federal Government has initiated actions to rescue and repatriate a group of Nigerian workers wh...


FG Urges Project Accountants to Prioritize Integrity in Fund Management
BY Abiodun Saheed Omodara July 26, 2025 0

The Federal Government has cautioned project accountants and financial officers to prioritize care a...


UK Student Sentenced To 7 Years for £100m Fraud
BY Abiodun Saheed Omodara July 27, 2025 0

A UK court has sentenced 21-year-old university student Ollie Holman to seven years in prison for pa...


Portable, VeryDarkMan Publicly Clash over Mohbad and Other Issues
BY Abiodun Saheed Omodara July 27, 2025 0

Nigerian singer Habeeb Okikiola, widely known as Portable, has intensified his feud with social medi...


Twelve die in Thailand-Cambodia clashes
BY Abiodun Saheed Omodara July 27, 2025 0

Fighting between Thai and Cambodian forces along their contested border has led to at least 12 fatal...


Reps Seek to Create Independent Body to Track Federal Projects
BY Abiodun Saheed Omodara July 25, 2025 0

The House of Representatives is set to hold a public hearing to gather feedback from stakeholders re...


More Articles

Load more...

Menu