Introducing the Presidential federal government of Nigeria (FG) Palliative Programs – a game-changer in economic empowerment. This program aims to provide financial assistance to businesses through accessible loans.

FG 75bn MSME Loan (Jan 2024) Eligibility & Procedures
FG 75bn MSME Loan (Jan 2024) Eligibility & Procedures

Below are the details for eligibility, loan criteria, security, repayment frequency, and key features:

Loan Eligibility Criteria

Loan up to 1 million

  • A) Eligibility Criteria:
  • Existing business operational for one year.
  • Start-ups must be a registered business.
  • Provide CAC business registration documents.
  • Bank statements for a year (existing business) or Chief
  • Promoter’s bank statements for a year (startups).
  • Required monthly turnover and other documentation requested by the bank.

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B) Security:

  • Personal guarantee of the promoter.
  • Acceptance of BVN Covenant (Global Standing Instruction- GSI), and any other requirement by the bank.

C) Repayment Frequency:
Monthly equal installment over 3 years.

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Manufacturers up to 1 Billion (Working Capital or Asset Financing):

A) Eligibility Criteria:

  • At least 6 months of business/corporate banking relationship.
  • Provide CAC business registration documents.
  • 12 months bank statement for other banks.
  • Other documentations as required by the bank.


B) Security:
As required by the bank.

C) Repayment Term:
i) Asset Financing: 6 months moratorium on principal and interest, 5 years repayment period.
ii) Working Capital Financing: 12 months equal installment of principal and interest.

Key Features:

Transparent and Efficient: Funds disbursed swiftly to deserving businesses.

Digital Transformation: Accessible through smartphones and computers for easy application.

Financial Literacy: Resources and training provided to empower SMEs with financial management knowledge.


Apply through the provided link; disbursement by your bank if you meet eligibility criteria.

MSMEs: 36 months,

Working capital: 12 months,

Asset financing: 60 months with a 6-month moratorium.

Applicant must have a registered business (Sole proprietorship, Partnership, or Limited liability company).

Equal and consecutive monthly repayment of principal and interest for the loan tenor.

Check through your profile; follow up with the bank for updates after forwarding your application