The Federal Government had given a public notice announcement about grants for helping businesses in Nigeria to grow. The initial phase of the grant was for large businesses and institutions with a considerable labour strength. Currently, the grant has been extended to cover small businesses in Nigeria. The grant will be given to 100,000 businesses under the Micro, Small, and Medium Enterprises MSME Survival fund initiative by the Federal Government.
Already, the Federal Government has disbursed N27 billion for the initiative which is slated to commence tomorrow. The MSME Survival Fund has issued a public notice to this effect, stating which category of businesses qualify for the grant and requirements for applying for the grant.
Contained in the public notice below, small businesses dealing in products like facemasks, liquid soap, disinfectant, and hand sanitizer qualify for Lot 1 in category A. while businesses in Lot 2, Category B should deal in products such as processed products such as beans, rice. Under Lot 3, 4, and 5 businesses dealing in flour, edible oil, and spices will be considered respectively.
Requirements for applying for the grant are: registration with Corporate Affairs Commission (CAC), compliance with NAFDAC and SON standards, verifiable BVN, Account Number, and at least two staff members.
The portal for the grant will be opened tomorrow, hence, small businesses that meet the required criteria are advised to apply.
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