SMEDAN New Grants Individuals and Businesses: Application Portal and Eligibility

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SMEDAN New Grants Individuals and Businesses: Application Portal and Eligibility

SMEDAN has announced a new initiative to aid the expansion of Nigerian businesses for job creation. Every business owner in Nigeria now has a chance to receive a grant to grow their business if they can fulfill the criteria Federal Government hopes this initiative will help reduce Nigeria's unemployment figures.

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced the launch of a conditional grant scheme to empower small businesses to be employers of labour.

SMEDAN in statement said the grant scheme was launched during the inauguration of its headquarters in Abuja on Wednesday, December 20, 2023.

HOW SMEDAN GRANTS WORK

According to the agency, the scheme is an initiative designed to empower SMEs by providing grants with the condition that recipients employ at least one person.

SMEDAN noted that the scheme will improve access to finance and address unemployment challenges.

Doris Uzoka-Anite, minister of industry, trade, and investment who was at the event, the statement said described the conditional grant scheme as a strategic intervention aimed at providing financial support to deserving nano and micro-enterprises, ensuring they have the necessary resources to scale and contribute meaningfully to the nation’s economic prosperity.

Uzoka-Anite also commended SMEDAN for being a pivotal force in driving economic empowerment, job creation, and industrial development across the nation.

Commenting on the new headquarters, SMEDAN said it houses innovative work hubs, common facility centres equipped with cutting-edge technological tools, industrial sewing machines, and woodwork machinery.

For Nigerians interested in learning more about the scheme, CLICK HERE. To apply for business loans, CLICK HERE.

PRESIDENTIAL GRANTS, LOANS FOR BUSINESSES

The Nigerian government recently opened an application portal for its presidential conditional grant for nano businesses under the presidential palliative programme.

The initiative offers a grant of N50,000 per beneficiary to support one million small businesses in all the 774 local government areas in the country.

The federal government will partner with state governments, ministers, NASMEs, Senators, and House of Rep. members, using specific selection criteria to shortlist beneficiaries.

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