All You Need to Know About N50,000 Presidential Conditional Grant Scheme (PCGS)

- Aim: The scheme offers N50,000 grants to one million nano businesses across 774 local government areas as part of the Presidential Palliative Program.

- Target Demographics: 70% women and youth, 10% people with disabilities, 5% senior citizens, and 15% for other demographics.

- Eligible Sectors: Traders, Food Services, ICT, Transportation, Creatives, Artisans.

- Grant Eligibility Criteria:

  1. Own a nano business.

  2. Operate a business with progressive economic potential.

  3. Willingness to hire additional staff if turnover increases.

  4. Provide proof of residential/business address.

  5. Provide personal and bank account information, including BVN and NIN.

- Collaborative Selection: Involves collaboration with State Governments, Honourable Ministers, NASME, Senators, and House of Representative Members.

- Application Deadline: Not specified.

- Application Process: Eligible beneficiaries should contact their representatives for shortlisting.

Note: Nano business defined as small-scale with asset value <1m, less than 4 employees, and annual turnover <1m. BVN and NIN needed for identity verification. No requirement for registered business name.