If you’re a Micro, Small, or Medium Enterprise (MSME) owner struggling with rising costs and looking for ways to grow your business, the President Bola Tinubu-led administration has launched an incredible opportunity that could be a game-changer for you. The Presidential Grants and Loans Scheme offers direct financial support to businesses like yours, and the good news is, it’s not a scam—it’s real, accessible, and can provide the boost you need.
At a recent town hall in Enugu, MSME owners shared their success stories, showing how the Presidential Nano-business grant of N50,000 has helped them thrive in these challenging times. Mr. Uchenna Eneh, a livestock farmer from Udi Local Government Area, used his grant to buy hybrid piglets, leading to the birth of new piglets and significant growth in his business. “The grant has truly blessed my business,” Eneh said.
Similarly, Mr. Chikezie Igwe, who runs a provision shop in Aninri, explained how the grant kept his business afloat when prices were skyrocketing. “The money was like a God-sent gift. It allowed me to restock my provisions and keep going,” Igwe shared.
If you’re running a business, whether it’s in agriculture, retail, production, or any other sector, this scheme is designed to help. For example, Mr. Julius Azi, a sachet water producer from Awgu, was able to meet the rising production costs thanks to the grant. “We managed to stay in business, and our production is still going strong,” Azi noted.
The good news doesn’t end there. The federal government has also launched a ₦75 billion intervention loan, aimed at assisting 75,000 MSMEs across Nigeria. Through this loan, you can access up to ₦1 million to help boost your business operations. The loan comes with a 9% interest rate per annum, and you’ll have up to three years to repay, including a three-month moratorium on both principal and interest.
To be eligible for the loan, all you need is to be registered with the Corporate Affairs Commission (CAC). So, if your business isn’t registered yet, now is the time to do it!
Don’t miss out on these opportunities. Mr. Arinze Chilo-Offiah, Special Adviser to the Enugu State Governor on MSMEs, called this scheme a “huge relief” for businesses struggling with high costs. “It’s a great opportunity for MSME owners to access much-needed support and grow their businesses,” he said.
