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The Federal Government through the SMEDAN (Small and Medium Enterprises Development Agency of Nigeria) announced the launch of conditional grants and presidential palliative loans for small and medium business enterprises.
The grants and loans that are given to small business owners and petty traders are a way of fulfilling the Federal Government’s renewed hope agenda which aims at reducing Nigeria’s Unemployment figures and creating employment opportunities for the Nigerian youths.
The initiative is offering a grant of N50,000 per beneficiary to support more than one million small business owners in the 774 local government areas in the country.
As in the case of the federal government loan, a 1 million naira loan with a repayment period of three years is offered for MSMEs and a 1 billion naira loan is offered to manufacturers with a repayment period of 1 year if it is used for working capital and five years if it is used for the purchase of machinery and equipment.
With a simple easy-to-do condition, every Nigerian small business owner is eligible to apply for grants and loans.
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The conditions are simple and easy to meet and that is for you to benefit from the program, you must employ at least one unemployed youth. This will help the Federal Government of Nigeria to address the issue of unemployment, provide financial support for micro-enterprises and increase the economic development of the country.
Here is a full list of those who are targetted beneficiaries of this scheme which include:
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Click here to get more information about the scheme -> https://smedan.gov.ng/condictional-grant-scheme/
And for those who wish to apply click here-> https://cip.smedan.gov.ng/
this is another way the federal government of Nigeria wish to increase access to funds, empower the youths, create job opportunities and increase the industrial development of the country.
For those who wish to apply the link has been made available above, and note that every business owner in Nigeria can receive the federal government presidential grants and loans by applying through the link.
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