Nigeria is dedicated to helping its smallest businesses grow, and the Presidential Conditional Grant Scheme (PCGS) is a big part of that effort. This program offers essential financial support to very small businesses, often called nano businesses. It’s now open for new applications. The PCGS is a lot like another program named the Federal Government Grant Scheme. Both are designed to boost the economy and create jobs by helping local, small-scale business owners.

    Presidential Conditional Grant Scheme
    nano business

    What is Presidential Conditional Grant Scheme?

    The Presidential Conditional Grant Scheme (PCGS) is a vital financial support program for Nigeria’s nano businesses, which are the smallest and most fundamental business units within the country’s dynamic economy. The PCGS offers a non-repayable grant of ₦50,000 to each eligible nano business. This substantial support is expected to reach one million nano businesses across all 774 local government areas, reflecting the government’s extensive commitment to economic empowerment.

    Beneficiaries of the Presidential Conditional Grant Scheme

    The Presidential Conditional Grant Scheme (PCGS) is designed to support Nigeria’s most modest but vital business segment: the nano businesses. These beneficiaries are the backbone of local economies and include:

    • Traders: Small-scale vendors and shop owners who form the retail network in local markets.
    • Artisans: Skilled workers such as carpenters, tailors, and mechanics who offer essential services.
    • Entrepreneurs: Innovative individuals who are starting new ventures or expanding existing ones in sectors like ICT, transportation, and food services.
    • Creative Industries: Talents in the arts, crafts, and entertainment sectors contributing to cultural richness and diversity.
    • Food Services: Small eateries, local food vendors, and caterers providing nourishment to their communities.

    Eligibility Criteria

    To be eligible for the PCGS, applicants must:

    • Operate a nano business with an asset value less than 1 million Naira and fewer than 4 employees.
    • Have an annual turnover of less than 1 million Naira.
    • Be part of the target sectors, including trading, food services, ICT, transportation, creative industries, and artisanal crafts.
    • Intend to hire at least one additional staff member if business turnover increases.
    • Provide proof of residential or business address within the Local Government Area.
    • Submit necessary personal and bank account details, including BVN and NIN.

    How to Apply for the PCGS

    1. Access the official PCGS application portal.
    2. Navigate to the ‘Apply For Grant’ section.
    3. Complete the application form with accurate details.
    4. Include your BVN and NIN for submission.
    5. Submit application online.

    Target Beneficiaries

    The scheme prioritizes a diverse range of beneficiaries, focusing on:

    • 70% women and youth, recognizing their pivotal role in the entrepreneurial landscape.
    • 10% people with disabilities, ensuring inclusivity and support for those who face additional challenges.
    • 5% senior citizens, acknowledging the contributions of older entrepreneurs.
    • The remaining 15% is allocated to other eligible demographics, ensuring a broad reach across various sectors of society.

    For a successful application, ensure all required information is provided correctly and submitted on time. The PCGS could be the breakthrough your business needs.

    For further details and to start your application process, please visit the official PCGS website.