FG reopens N50,000 grant portal as SMEDAN invites nano businesses to apply
By Aboki Forex —
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has reopened its Conditional Grant Scheme, offering eligible nano and micro businesses a non-repayable grant of N50,000. Recipients must employ at least one additional person as part of the scheme's job creation conditions.
The programme is designed to help small enterprises strengthen their operations through financial support that does not require repayment, provided beneficiaries comply with the scheme's conditions. SMEDAN says the grant is part of the federal government's efforts to improve access to funding for small businesses that often struggle to secure loans from financial institutions.
Grant details and conditions
Successful applicants receive a one-time grant of N50,000, which can be used to purchase business equipment, boost working capital, expand operations, improve productivity and create employment opportunities. SMEDAN stated that beneficiaries are expected to employ at least one additional person as part of the programme's objective of creating jobs within local communities.
The agency explained that the funding is a grant rather than a loan, meaning recipients are not required to repay the money or pay interest, provided they comply with the programme guidelines. The Conditional Grant Scheme is administered by SMEDAN and is separate from the Presidential Conditional Grant Scheme, although both initiatives provide grants of N50,000 to eligible nano businesses.
Who can apply
SMEDAN said the programme is open to eligible nano and micro enterprises operating at the local government level across the country. Applicants will be required to provide information including full name, email address, phone number, business name, CAC registration number where applicable, business industry, and number of years in operation.
The agency said the initiative is specifically designed for nano businesses and aims to support nano and micro enterprises, promote entrepreneurship, reduce unemployment, encourage business expansion, improve productivity, strengthen local economic development and create new jobs.
How the grant can be used
Beneficiaries may use the grant to support activities that improve business competitiveness and sustainability, including purchase of equipment, technology upgrades, business expansion, capacity building, market expansion and working capital. SMEDAN said beneficiaries may also be required to participate in monitoring and evaluation exercises and submit periodic reports to ensure the grant is properly utilised.
The agency added that the programme is intended to improve business performance, expand market access, increase competitiveness and generate employment opportunities for Nigerians. Eligible businesses can apply through the scheme's registration portal.
For Nigerian small businesses struggling with limited access to affordable credit, this grant offers a rare form of non-repayable funding. With the added requirement to hire at least one person, the scheme could provide both capital relief and a modest boost to local job creation.