The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has reopened its Conditional Grant Scheme portal, allowing eligible nano and micro business owners across Nigeria to apply for a non-repayable N50,000 grant designed to support business growth and employment creation.
The programme targets small enterprises that require financial support to improve operations, expand their activities and strengthen productivity without the burden of loan repayment.
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Under the scheme, successful beneficiaries will receive a one-time N50,000 grant, provided they meet the programme conditions, including the requirement to create at least one additional job opportunity within their businesses.
The grant portal reopening is part of federal government efforts to improve access to funding for small businesses, many of which face challenges securing finance through traditional lending channels.
SMEDAN explained that the Conditional Grant Scheme is separate from the Presidential Conditional Grant Scheme, although both initiatives provide financial support to eligible nano businesses.
The agency said the programme is designed to promote entrepreneurship, reduce unemployment, improve local economic activity and help small businesses become more sustainable.
Eligible applicants are required to provide basic business information, including their full name, email address, phone number, business name, CAC registration number where applicable, industry category and number of years the business has operated.
SMEDAN stated that beneficiaries may use the grant for business-related activities such as purchasing equipment, upgrading technology, expanding operations, improving working capital, building capacity and reaching new markets.
The agency noted that the scheme focuses primarily on nano and micro enterprises operating within local communities across Nigeria.
Beneficiaries may also be required to take part in monitoring and evaluation exercises and provide updates on how the funds are used to ensure the programme achieves its objectives.
SMEDAN said the initiative is expected to contribute to stronger small businesses, increased competitiveness and additional employment opportunities across the country.
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The latest intervention comes amid ongoing government efforts to provide financial support for small-scale entrepreneurs and strengthen the role of micro businesses in Nigeria’s economy.
Mariam Balogun is a contributor to Freelanews.com, covering news, business, and public affairs.
