The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has rolled out a new Conditional Grant Scheme (CGS) aimed at supporting micro and nano businesses across Nigeria. This federal government-backed initiative offers financial assistance of N50,000 per qualified business owner.
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What the Grant Is About
The CGS is designed specifically for nano businesses operating at the Local Government Area (LGA) level. The grant is not a loan and is intended to help these small enterprises create jobs, acquire basic equipment, and improve overall business sustainability.
Key Objectives
- Promote grassroots employment: Beneficiaries are expected to use the grant to hire at least one person.
- Support business growth: The scheme aims to improve productivity, market access, and long-term sustainability.
- Encourage innovation: Projects involving tech upgrades, market expansion, and capacity development are welcome.
Who Can Apply?
This grant targets:
- 70% women and youth
- 10% persons with disabilities
- 5% senior citizens
- 15% others
To qualify, businesses must be small-scale (nano/micro level), operational within Nigeria, and able to present a clear plan for how the funds will be used.
Eligible Projects
The CGS will fund various business initiatives including:
- Equipment procurement
- Workforce support
- Technology upgrades
- Infrastructure improvements
- Market expansion activities
Application Process
Small business owners can apply by:
- Visiting the official application portal
- Filling out the online form or submitting through designated government offices
- Providing supporting documents and a business proposal based on the scheme’s guidelines
Accountability Measures
Grantees may be required to:
- Submit periodic progress reports
- Participate in monitoring and evaluation activities
- Undergo project reviews to ensure proper use of funds
This initiative is part of the government’s broader commitment to boosting local businesses, reducing unemployment, and stimulating grassroots economic growth.
