Aug 4, 2025
Starting and growing a business can be tough, especially when you’re working with a limited budget. For small and medium-sized business owners in Nigeria, getting access to funds is often a major challenge. But there’s good news! The federal government offers a range of grants and funding schemes designed to help businesses like yours thrive.
Government grants and funding are financial resources provided directly by the government or through private lenders such as banks, with government backing. These loans are designated for specific purposes and supervised to ensure they are used effectively. Various government agencies in Nigeria manage federal loans to aid small, medium, and large businesses.
In this post, we’ll explore some of the top funding options available in 2024, so you can find the support you need to take your business to the next level without the stress of bank loans or high interest rates.
7 Federal Government Grants
Presidential Conditional Grant Scheme: This trade grant scheme provides financial help to eligible small business owners, especially nano businesses, without the need to repay. Nano businesses typically employ 1-3 people and have an annual income of less than N3 Million naira. These businesses operate in various sectors, including Trading, Food Services, Information and Communication Technology (ICT), transportation, creative industries, and Artisans (skilled craft workers).
The Presidential Conditional Grant Scheme
The program prioritizes empowering specific groups:
70% of grants go to women and young people.
10% are allocated to people with disabilities.
5% are for senior citizens.
The remaining 15% are distributed to others.
The program aims to reach one million small businesses across all 774
local government areas (LGAs) and the six council areas in the Federal Capital Territory (FCT). With such a vast reach, the PCGS has the potential to significantly impact communities nationwide.
