The Federal Government of Nigeria has initiated the distribution of a N50,000 trade grant to nano businesses nationwide through the Presidential Conditional Grant Scheme, also referred to as the Trade Grants Scheme.
Nano businesses, defined by SMEDAN as enterprises with one or two employees and less than N3 million in annual turnover, are eligible for this support.
Minister Doris Uzoka-Anite of Industry, Trade, and Investment revealed that grants have already been disbursed to several beneficiaries, with a phased approach in effect.
A significant number of validated applicants are set to receive substantial grant amounts by April 19, 2024, with the disbursement process ongoing and not all applicants receiving funds on the first scheduled date.
However, Uzoka-Anite assured that all verified applicants will eventually receive grants in subsequent phases, emphasizing the importance of patience as applications are diligently processed with fairness.
