Nigerian Government Sets Deadline for N50,000 Presidential Grant Scheme to Support Nano Businesses
The Nigerian government has announced a deadline for its N50,000 Presidential Grant Scheme to support nano businesses across all 774 local government areas. This initiative, part of the broader Presidential Palliative Programme, will provide N50,000 each to one million small businesses nationwide.
President Bola Tinubu and Minister of Trade and Investment, Doris Uzok-Anite, spearhead the scheme, which targets kiosk operators, vulcanizers, wheelbarrow pushers, and other petty businesses. The government has allocated N150 billion for nano businesses and the manufacturing sector as part of this effort.
The scheme will focus on women, youth, and individuals with disabilities, with a specific allocation of 10% for people with disabilities and 5% for older individuals. The remaining 15% will be distributed among other demographics.
