In a bid to support her citizens, the Nigerian government comes up with funding programmes. These federal government grants in Nigeria in the form of loans and grants are available to all entrepreneurial citizens.
If you are a bonafide citizen of Nigeria and you need funding for your business, you’re on the right track. This article will show you the federal government grants in Nigeria.
Keep reading to the end, because you’ll also learn how to apply for these grants and win them. This way, you can grow your business to become as big as you’ve always dreamt of.
What are Federal Government Grants?
These are monetary awards the federal government of a country gives to deserving citizens. They are not loans as you are not expected to pay back.
You are only expected to use the grant to execute the project or idea you got it for in the first place which is to fund your business.
Purpose of Federal Government Grants
These grants are given to:
- Empower Nigerians who desire to start their own business.
- Provide financial assistance to Nigerians with fewer risk.
- Create employment opportunities for graduates
List of Federal Government Grants in Nigeria
So long as you are within the age of 18-65 and you have a solid business plan, you are eligible to apply for the following federal government grants in Nigeria:
1. Federal Government MSME Survival Fund:
The objective of the Federal Government Survival Fund grant is to provide affordable finance to key sectors the pandemic affected and enable an increase in manufacturing capacity.
2. Bank of Agriculture Program
This programme works with the Federal Ministry of Agriculture and the Federal Ministry of Finance to provide the best options for grants and loans.
3. National Institute of Health
This is one of the federal government grants in Nigeria that provide opportunities for small scale businesses. It also caters for companies involved in industrialized innovative technologies and research.
4. Cooperative Societies Grants
If you’re in the business of agriculture, you can join cooperative societies and gain financial support. Some of these cooperative societies include All Farmers Association of Nigeria (AFAN), Youth Empowerment in the Agricultural Program (YEAP), etc.
5. Federal Government Grant Application from World Bank
This grant scheme by the World Bank to Nigeria is available to all eligible citizens.
6. Social Intervention Fund
This grant is for artisans and small business owners in the country.
7. Cybertipline Grant
The Department of Homeland Security gives this grant to small businesses that are focused on eradicating sex trafficking and child exploitation.
8. Youth Entrepreneurship Support
The Bank of Industry created the Youth Entrepreneurship Support (YES) Programme to tackle youth unemployment in Nigeria. It aims to strengthen the capability of the youths and support their business ideas through funding.
9. National Social Investment Program (N-SIP)
This is one of the federal government grants in Nigeria that aim to alleviate poverty and unemployment.
10. Government Enterprise and Empowerment Program (GEEP)
This one aims to provide micro-credit facilities for men and women in rural areas. The goal is to alleviate poverty in rural areas by providing skills training and financial support for businesses.
11. You Win Connect Nigeria
The Federal Ministry of Finance created this grant to promote entrepreneurship, job creation and wealth for young Nigerians.
How to Apply for Federal Government Grants in Nigeria
Before you apply for any grant, you must make sure you are eligible. Each grant has their eligibility criteria. It is up to you to visit their website and confirm if you are eligible before you begin the application process.
Apart from the age criterion, some specify that your business must be registered. Others cater for both registered and unregistered businesses. Confirm this before proceeding to apply.
To apply for any federal grant in Nigeria, you have to visit the online portal of the grant and submit the required information. You may be asked to submit a business plan too. Whichever way, fill the form on their website and submit after you have cross-checked all your details.
How to Win Federal Government Grants in Nigeria
To win any grant, you have to obey the specified rules and that involves:
1. Confirm Your Eligibility
If you really want to win a grant, don’t apply without thinking the rules through. In fact, the first thing you should consider is your eligibility status. If you are not eligible, don’t bother applying. It will only be a waste of time.
2. Stick to Word Count
If there are word counts or page limits, stick to it. Oftentimes, there are maximum amount of words given. It is expected that you write within the number of words specified and not exceed it.
3. Submit All Documents
If you’re asked to submit documents, do so without skipping any step. If the grant requires your birth certificate, Bank Verification Number, business certificate, National Identification Number slip,etc., scan them and upload. Don’t expect to win a grant without giving the donor what they want.
4. Construct an Impressive Business Plan
Some federal government grants in Nigeria that require you to submit a business plan or proposal. Hence, make sure your submission is really impressive. Take your time to write your business plan knowing full well that experts will review it.
5. Know Where to Submit
If you’re asked to submit via email or portal submission, simply obey.
6. Beat the Deadline
Above all, ensure you meet the deadline. Don’t submit after the deadline otherwise you’ll be wasting your time. In some cases, the portal closes once the deadline arrives. So you won’t see any room to submit. Keep track of opportunities and their deadlines here. Subscribe for reminders on WhatsApp.
Whatever you do, make sure you review the rules for application and adhere to them. Only then do you stand a chance of winning the grant.
DISCLAIMER: Do not pay or release sensitive financial details to any organizer/recruiter unless futher verified from your end.