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The Nigeria federal government has introduced the Presidential Conditional Grant Scheme (PCGS) as part of the Presidential Palliative Program to empower nano businesses.
This initiative, which commenced on March 9, provides financial grants to eligible small business owners operating in various sectors such as trading, food services, ICT, transportation, creatives, and artisans.
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The PCGS is specifically designed to target demographic groups including women, youth, people with disabilities, and senior citizens, to unleash Nigeria’s entrepreneurial potential and foster grassroots economic development.
Each qualified beneficiary will receive a grant of N50,000.00 (Fifty Thousand Naira), benefiting a total of one million small businesses across the 774 local government areas (LGAs) and the six council areas in the Federal Capital Territory (FCT).
The selection process for beneficiaries involved thorough verification of their National Identification Number (NIN) and Bank Verification Number (BVN). Successful applicants demonstrated promising economic prospects, a commitment to growth, and the capacity to hire additional staff as needed.
Administered by the Federal Ministry of Industry, Trade, and Investment with the Bank of Industry serving as the Executing Agency, the PCGS underscores the government’s dedication to supporting small-scale entrepreneurs and fostering inclusive economic growth.
The initiative is expected to make a significant impact on the lives of small business owners and their communities nationwide. Individuals seeking more information about the Presidential Conditional Grant Scheme (PCGS) can visit the official website.
