The federal government has introduced the Presidential Conditional Grant Scheme (PCGS) to empower nano businesses as part of the Presidential Palliative Program. This initiative, which began on March 9, offers financial grants to eligible small business owners in various sectors such as trading, food services, ICT, transportation, creatives, and artisans.
The PCGS targets specific demographic groups, including women, youth, people with disabilities, and senior citizens, with the aim of unlocking Nigeria’s entrepreneurial potential and driving grassroots economic development. Each beneficiary will receive a grant of N50,000.00 (Fifty Thousand Naira), totaling one million small businesses across the 774 local government areas (LGAs) and the six council areas in the Federal Capital Territory (FCT).
Beneficiaries were selected through a rigorous process that included verification of their National Identification Number (NIN) and Bank Verification Number (BVN). Successful applicants demonstrated progressive economic potential, willingness to grow, and engagement of additional staff members when necessary.
Implemented by the Federal Ministry of Industry, Trade and Investment with the Bank of Industry as the Executing Agency, the PCGS underscores the government’s commitment to supporting small-scale entrepreneurs and driving inclusive economic growth.
The initiative aims to have a significant impact on the lives of small business owners and their communities nationwide. For more information about the Presidential Conditional Grant Scheme (PCGS), individuals can visit the official website.
