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2024 Presidential Grant and Loan Program | How to Apply

Presidential Grant and Loan Program is open to Business owners in Nigeria (including Nano businesses) as part of the Presidential Palliative Program.

The scheme prioritise transparency and efficiency, ensuring that funds are disbursed swiftly to deserving businesses,  leverages cutting-edge technology to make the entire process accessible through smartphones and computers, allowing SMEs to apply from anywhere and provides resources and training to empower SMEs with the knowledge to manage their funds effectively.


Presidential Grant and Loan Program Summary

  • Host Country: Nigeria
  • Category: Fellowships
  • Eligible Countries: Nigeria
  • Reward: Grants | Loan
  • No IELTS Required
  • Deadline: December 31, 2023
  • Scholarship Alerts: To receive Scholarship Alerts on WhatsApp, Click HERE

Presidential Grant and Loan Program Details:

The Presidential Grant and Loan Program is targeted to Nano businesses, MSMES, Manufacturers across 774 Local Governments in Nigeria.

The repayment of the Loan is as follows:

  • 3 years repayment period for MSMEs.
  • 1 years repayment period for working capital.
  • 5 years repayment period for purchase of machinery and equipment.
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Eligibility Requirements for Presidential Grant and Loan Program

Below are the business that are eligible to apply to the Presidential Grant and Loan Program:

  • Traders: these includes single retail marketers, corner shop owners, petty traders, market men and women in open markets
  • Food Services: these include food and vegetable Vendors

  • ICT: these include business centre operators, battery chargers, recharge card vendors, call centre agents

  • Creatives: makeup artists, fashion designers, drycleaners

  • Artisans: vulcanizers, shoemakers, painters, repairers

Benefits of Presidential Grant and Loan Program

For Loan

  • 75 Billion to Businesses with up to N1 million for each beneficiary.
  • 75 Billion to Manufacturers with up to N1billion for each beneficiary

For Grant

  • One time grant of N50,000 to businesses

Required Documents for Presidential Grant and Loan Program

To apply, candidates must be ready to have the following documents;

  • Proof of residence or business
  • Personal or bank details of business
  • Application requirements is subjected to bank’s risk assessment criteria.

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How to Apply for Presidential Grant and Loan Program

Interested and qualified applicants should use the “CLICK HERE TO APPLY” button to complete the application processes.

Best Wishes.

Deadline: December 31, 2023

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