Presidential Conditional Grant Scheme (PCGS) Portal and Eligibility

Presidential Conditional Grant Scheme (PCGS)

The Federal Government of Nigeria is delighted to announce the kickoff of the Presidential Conditional Grant to Nano Businesses as part of the Presidential Palliative Program.

The grant sum is N50, 000.00 (Fifty Thousand Naira) per beneficiary, and it is designed to reach one million nano businesses in the 774 local government areas. 

The Federal Government will collaborate with the State Governments, Honourable Ministers, NASME (Nigerian Association of Small and Medium Enterprises), Senators, and House of Representative Members, who will use the Federal Government’s selection criteria below to shortlist the beneficiaries from their constituents.

The target beneficiaries are 70% women and youth, 10% people with disabilities, and 5% senior citizens, while the remaining 15% is distributed to other demographics.

PCGS Target Sectors for the Scheme

Below are the business that are eligible to apply to the scheme

Traders

These include single retail marketers, corner shop owners, petty traders, market men and women in open markets

Food Services

These include food and vegetable Vendors

ICT

These include business centre operators, battery chargers, recharge card vendors, call centre agents

Transportation

These include wheelbarrow pushers, independent dispatch riders

Creatives

These include makeup artists, fashion designers, drycleaners.

Artisans

These include vulcanizers, shoemakers, painters, repairers.

 

What You Should Know About PCGS

What is a 'nano business'?

A nano business is a very small-scale business entity, often operated by a single individual or a small team, and typically characterized by its limited size and scope.

A Nano business has asset value of value <1m and less than 4 employees with annual turnover <1m.

What is a Bank Verification Number (BVN), and why is it needed for identity verification?

The Bank Verification Number (BVN) is an 11-digit biometric identifier introduced by the Central Bank of Nigeria for customers. It enhances security, reduces fraud, and streamlines financial services by providing a standardised means of verifying and authenticating individual's identities.

BVN links multiple bank accounts, aids in compliance with regulatory policies, and is used beyond banking for identity verification in various services.

 

BVN provides a unique identity for each beneficiary.

Do I need to have a registered business name to qualify for this opportunity?

No, The beneficiary is expected to register thereafter

When is the deadline for submitting the application for this opportunity?

18th December, 2023

What documents do I need to provide as proof of my residential/business address in the Local Government Area?

Submit business/Residential address with the closest land mark

What personal and bank account information is required for this application?

Account number, Account Name and BVN

What does it mean to have a business with 'progressive economic potential'?

A business that has the ability to create jobs and increase wages

How to Apply for PCGS

Interested and qualified individuals with business that has the ability to create jobs and increase wages should follow the link below to apply:

 ·        Presidential Conditional Grant Scheme (PCGS) Application Portal: https://grant.fedgrantandloan.gov.ng/apply