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Federal Government Business Grants in Nigeria 2019-2020 | See Application Guide

Filed in Business & Entrepreneur by on June 7, 2019

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Federal Government Business Grants in Nigeria 2019

Federal Government Business Grants in Nigeria… In today’s world, it is every individual’s dream to become an entrepreneur but they often face a major challenge, which is a lack of funds. So in this article, you will be provided with a list of federal government grants and how to apply.

You might be wondering what a federal government grant is about it is a non-repayable amount of money issued by the federal government to individuals or organizations for business purposes.

Federal Government Business Grants in Nigeria

Also, you must know that a grant is different from a loan. Many have missed the opportunity that would have benefited them in one way or the other because they see grant as loans. A grant is a non-repayable fund, so you do not need to be scared of paying back with interest, unlike loans.

That being said, there are different types of federal government grants you can choose from, but there are things you must do to be able to access the grants. They include:

1. Prepare A Business Plan

You must have a robust business plan (what some people called bankable business plan) in place. Without a proper business plan, there is no way you would be able to convince anybody about your business idea let alone government. Your business plan represents your preparedness towards the business; the more robust your plan is, the more serious investors and grantors will take you.

2. Belong To A Co-operative

Most times, those funds are being disbursed through various cooperatives. If you don’t belong to any, you may find yourselves outside the scheme of things. There are various cooperative societies for Farmers, Traders, Manufactures, etc. Find the one that is most suited to your need and join. Make sure to be an active member and always be in the know.

Types of Federal Government Grants in Nigeria and How to Apply

– Federal Government Grants for Agriculture

This type of grant is financial support from the federal government of Nigeria to support the agricultural sector. A registered farmer under this association is eligible for this grant.

  • How to Apply

1. Visit the online platform for the grants or obtain the form from available places.

2. Ensure to submit all required information by the federal government agency.

– Bank of Industry (BOI)

The Bank of Industry (BOI) recently launched a youth empowerment program for young and talented entrepreneurs looking to venture into various sectors of Nigeria’s economy.

The Youth Entrepreneurship Support (YES) Program is BOI’s effort at addressing the worrisome phenomenon of youth unemployment in Nigeria by building the capacity of the youths and funding their business ideas.

  • How to Apply

1. You must be a citizen of Nigeria.

2. You must be between the ages of 18-35.

3. You must possess OND.

4. Visit the online platform to fill and submit the form for this grant.

3. National Institutes of Health

This institution provides opportunities for business owners running a small scale business and companies that are into research and industrialized innovative technologies.

How to Apply

1. Your company or organization must be into research.

2. It must also be commercially innovative.

3. Visit the online portal to fill and submit your application.

4. Cybertipline Grant

This is the type of grants given by the Department of Homeland Security. They give grants to small businesses that provide services and programs that help eradicate sex trafficking and exploitation of children.

How to Apply

1. Visit the federal government online portal to fill and submit the application form.

5. Federal Government Grant Application from World Bank

This is a grant scheme by the World Bank to the federal republic of Nigeria. It is available to all eligible individuals.

How to Apply

1. Visit the official website of the World Bank or the National bodies they operate through to fill and submit your application.

6. Youwin Connect Nigeria

This is a multimedia program of the Federal Ministry of Finance. The program aims to promote entrepreneurship, job creation and wealth via enterprise education for young Nigerians.

How to Apply

1. You are required to submit business plans and go through a series of mentorship programs.

7. Government’s National Social Investment Program (N-SIP)

This is a grant program by the federal government of Nigeria aimed at reducing poverty and unemployment.

How to Apply

1. Visit the online platform for this grant to fill and submit your application.

8. Government Enterprise and Empowerment Program (GEEP)

This is created to provide micro-credit facilities for men and women with the aim of reducing poverty among rural areas and provide skill development, training, and business support, thus rebuilding the economy of the rural areas.

How to Apply

1. Visit the online platform to fill and submit the application form.

9. Social Intervention Fund of FG

These are for artisans and owners of SMS businesses across the nation. The business owners can only access a maximum of N100,000 per year.

How to Apply

1. You must be a member of a business organization.

2. Visit the online platform to fill and submit your application.

With the above listed, I believe you can now go ahead to option for your choice of interest, it is good to benefit from the government.

CSN Team.

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