The federal government has rolled out the Presidential Conditional Grant Scheme (PCGS) to empower Nano businesses as part of the Presidential Palliative Programme.

The scheme offers financial grants, without repayment obligations, to eligible small business owners operating in various sectors such as trading, food services, ICT, transportation, creatives, and artisans.

The PCGS targets 70% women and youth, 10% people with disabilities, and 5% senior citizens, with the remaining 15% distributed to other demographics.

By focusing on the often overlooked group of business owners, the program seeks to unlock the potential of Nigeria’s entrepreneurial ecosystem and drive sustainable economic development at the grassroots level.

The Fifty Thousand Naira grant per beneficiary paid directly to beneficiaries’ accounts will reach one million small businesses in the 774 local government areas (LGAs) and the six council areas in the Federal Capital Territory (FCT).

With a target of 1,000,000 beneficiaries in every LGA and the FCT, the program has the potential to impact communities nationwide significantly.

The initiative is implemented by the Federal Ministry of Industry, Trade, and Investment with the Bank of Industry as the Executing Agency.