FG Lists 12 Loans and Grants Programmes for Nigerians – What You Need to Know

The Federal Government has rolled out at least 12 intervention programmes since President Bola Tinubu took office in May 2023. These cover interest-free student loans, consumer credit, non-repayable grants for nano businesses, housing finance, vocational training and support for entrepreneurs. Some schemes are open to all eligible Nigerians, while others target students, artisans, farmers, civil servants, women, youths and small business owners.

Education and Skills Development

The Nigerian Education Loan Fund (NELFUND) provides interest-free loans to eligible students in public universities, polytechnics, colleges of education and approved technical and vocational institutions. The scheme covers tuition fees, and qualified students can also receive a monthly upkeep allowance. It was introduced to reduce financial barriers to higher education.

The Technical and Vocational Education and Training (TVET) programme focuses on equipping Nigerians with practical vocational skills to improve employability and self-reliance. Participants receive hands-on training, and many beneficiaries also get monthly stipends and starter support to transition into employment or self-employment.

The Skill-Up Artisans Programme (SUPA) aims to upgrade the skills of Nigerian artisans through training, certification and digital registration. It seeks to improve competitiveness and connect artisans with better job and business opportunities.

Business and Enterprise Support

The Presidential Conditional Grant Scheme offers non-repayable grants to nano businesses across Nigeria. It targets petty traders, market women, roadside vendors, artisans and other small-scale entrepreneurs. The funds help them restock, expand operations and improve incomes without loan repayment pressure.

The Government Enterprise and Empowerment Programme (GEEP) includes TraderMoni, MarketMoni and FarmerMoni. These microloans target traders, farmers, artisans and small business owners who struggle to get credit from commercial banks. The goal is financial inclusion and grassroots business support.

The Youth Investment Fund provides finance for young Nigerians to start or expand businesses, encouraging entrepreneurship and job creation. The iDICE programme supports startups in digital technology and creative sectors, offering funding to innovative enterprises that can create employment and attract private investment.

Consumer Credit, Housing and Palliatives

CREDICORP, the Nigerian Consumer Credit Corporation, was set up to improve access to affordable consumer credit. Eligible workers with verifiable income can access loans for household appliances, education, healthcare and other personal needs under structured repayment plans. The government plans to expand access to millions of Nigerians over the coming years.

The Presidential Palliative Loan Programme offers affordable financing for Micro, Small and Medium Enterprises (MSMEs) and manufacturers. It helps businesses purchase equipment, increase production and create jobs, cushioning the impact of economic reforms.

For civil servants, the Federal Government introduced housing loans to promote home ownership and improve staff welfare. The NG-CARES Additional Financing Programme supports vulnerable households, farmers and MSMEs through state governments, offering grants and livelihood support to boost local economies.

The National Social Investment Programmes Agency (NSIPA) coordinates conditional cash transfers and empowerment schemes for vulnerable Nigerians, women and young people, aiming to reduce poverty and strengthen household incomes.

These programmes go beyond direct cash support, covering education, business development, vocational training, consumer credit, housing and social welfare. For Nigerians struggling with high costs, the schemes offer a lifeline – but applicants must check eligibility criteria and application channels carefully to avoid delays or scams.