Federal Government Grant

What Is The Federal Government Grant?

The Federal Government of Nigeria has introduced the federal government grant, the federal government grant is a program established to assist small, micro and medium scale businesses across various sectors of the economy. Under the federal government grant eligible and verified beneficiaries will receive a one-time federal government grant disbursement of N50,000, which is non-repayable. The federal government grant aims to support one million small businesses across the federation with a scope on inclusivity, prioritizing women, youth, and vulnerable groups. The federal government grant is executed in conjunction with the Federal Ministry of Industry, Trade and Investment, and the Bank of Industry serves as the Executing Agency.

When Will The Federal Government Grant Be Disbursed?

The federal government of Nigeria has already started the disbursement of the ₦50,000 federal government grant to nano businesses across the federation. The Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, announced that the disbursement process of the federal government grant has already commenced, with several beneficiaries having received their federal government grant. A significant disbursement of the federal government grant was scheduled for Friday, April 19, 2024, when a substantial number of validated federal government grant applicants will receive their grants. However, the Minister of Industry, Trade, and Investment, Doris Uzoka-Anite stressed that not all applicants of the federal government grant will receive their grants on this previous date, as the disbursement process of the federal government grant is ongoing, and will commence in the coming weeks and months.

Who Will Receive The Federal Government Grant?

The following categories will receive the federal government grant:

1) 70% women and youth will receive the federal government grant

2) 10% people with disabilities will receive the federal government grant

3) 5% senior citizens will receive the federal government grant

4) 15% distributed to other demographics will receive the federal government grant

How Will The Federal Government Grant Be Disbursed?

The federal government grant disbursement will be done in batches, on a weekly and monthly basis and all verified and eligible applicants for the federal government grant will eventually receive their grants.

How To Check If You Qualify To Receive The Federal Government Grant

There are two methods to check if you qualify to receive the federal government grant, the first method is the NIN verification method while the second method is the eligibility criteria method

A) NIN Verification Method

Here is how you can check if you qualify to receive the Federal Government Grant using the NIN verification method:

1) The applicant should click > here

2) After clicking the above link, the applicant is directed to a WhatsApp prompt which will ask if the applicant wants to check if the NIN was verified in order to receive the federal government grant

3) The applicant should answer 'yes' (kindly note that service charge of ₦500 apply)

4) Once the applicant answers 'yes' the applicant only needs to provide the phone number he or she used during the federal government grant application

5) Once the phone number of the applicant is provided and after the verification a prompt says "NIN Already updated" it simply means that the NIN of the applicant was verified and the applicant  will receive the federal government grant

6) If the phone number of the applicant after the NIN verification check reads "Candidate not found with phone number" then it simply means that the NIN of the applicant was not verified and the applicant will not receive the federal government grant

B) Eligibility Criteria Method

Here is how you can check if you qualify to receive the Federal Government Grant using the eligibility criteria method:

1. The business of the applicant must have one or two employees in order to receive the federal government grant

2. The business of the applicant must have a yearly turnover and sales volume of less than ₦3,000,000

3. The business of the applicant should be under either trading, food services, Information and Communications Technology, transportation, creative industries or artisans sectors.

4. The applicant must be either a woman, youth, person with disabilities or senior citizen of Nigeria in order to receive the federal government grant.

5. The applicant should have a correct Bank Verification Number (BVN) and a verified National Identification Number (NIN), applicants can use the NIN verification method above to verify their NIN, kindly note that applicants with unverified NIN will not get the federal government grant.