Posted by Nano enterprises nationwide can now get federal funding through the Presidential Conditional Grant Scheme (PCGS), which is part of the Presidential Palliative Programme.
Starting last weekend, small business owners in categories like trading, culinary services, information and communication technology, transportation, creativity, and craftsmanship can apply for incentives that do not require repayment.
The project is being carried out by the Federal Ministry of Industry, Trade and Investment, with the Bank of Industry serving as the executing agency, according to a statement made available to Vanguard.
According to the organization, the PCGS aims to reach 70% females and adolescents, 10% disabled individuals, 5% seniors, and 15% other groups.
The program’s stated goal is to promote long-term economic growth in Nigeria by assisting the country’s growing number of small company owners, who are currently receiving little attention.
Through the 774 LGAs and 6 council areas of the Federal Capital Territory (FCT), one million small enterprises would get the N50,000.00 subsidy per recipient.
Communities over the country stand to benefit greatly from the program, as it aims to reach one million people in all LGAs and the FCTs.