The Federal Government has given N20.11bn to 402,283 people under the N50,000 Presidential Conditional Grant Scheme.
How the Grant Works
- Total Amount Given: N20.11bn
- Number of Beneficiaries: 402,283
- Grant Amount per Person: N50,000
News
FG N50,000 Grant Program Update June 2024
NYIF: FG Approves N110 Billion Fund for NigerianYouth Startups
The Nigerian government has approved N110 billion for youth startups and early-stage businesses. This decision aims to help young entrepreneurs grow their businesses and boost the economy.
The Minister of Youth Development, Dr. Jamila Bio-Ibrahim, announced this news. The funds will be managed through the restructured Nigeria Youth Investment Fund (NYIF). This move is meant to support young business people in Nigeria.
FG Cash Transfer Program June 2024 Updates
The Nigerian Federal Government has started a new cash transfer program. This program will help 75 million Nigerians by giving them direct cash. This is to help those who find it hard, especially people who do not have much. The government is doing this after checking the old way of doing things to stop any wrong actions and make the system better.
OG-CARES Grant: Ogun State Launches Second Phase of N1 Billion Operational Grant for MSMEs
Ogun State has started the second phase of its N1 billion Operational Grant for Micro and Small Scale Enterprises (MSMEs). This grant is part of the OG-CARES scheme. The first phase was in 2023, where 1,000 small businesses got money. Now, the second phase will help 2,822 more businesses.
Empowering Youth: FG Plans N10 Million Grants for NYSC Corps Members
The Minister of Youth Development, Jamila Bio-Ibrahim, has announced plans to change the National Youth Service Corps (NYSC) Scheme. More than 5,000 corps members will get grants of N10 million each for their business ideas. A team will be set up to lead this change.
World Bank Comments on Federal Government’s Cash Transfer Program
World Bank’s Assessment of the Federal Government’s Cash Transfer Program
The World Bank recently conducted a thorough analysis of the Federal Government’s conditional cash transfer program, initiated in 2016. This program was designed to improve the socio-economic status of the most vulnerable segments of the Nigerian population by providing monthly financial support.
FG begins disbursement of N50b grants to small firms
The Government has started distributing N50 billion grants to small businesses. These grants are benefiting one million businesses across 774 local councils.
Beneficiaries of the N50,000 grants for nano business owners are receiving alerts. This was confirmed by the Minister for Industry, Trade and Investment, Dr. Doris Uzoka-Anite.