FG Grants 2022 for Nigerian Businesses Available

Federal Government Grants –  We have compiled the lists of Available FG Grants for Nigerian Businesses in the new year. An individual who needs grants should read through and apply for grants suitable to them.

What is a Grant?

A grant is defined as money or capital given to an individual or a business for a specific reason. While a business grant is equally an amount of money given to a business for the purpose of expanding and augmenting the enterprise.

Grants are normally given by the government or organizations and may be either refundable or not depending on the type.

With this, its beneficial to know the full list of Available Federal Government Business Grants in Nigeria 2021 as we will explain the eligibility and criteria on how to apply for it.

Available FG Grants for Nigerian Businesses includes the below

1. African Women Development Fund

The African Women's Development Fund is the first pan-African foundation to support the work of women's rights organizations in Africa

We understand that the African Women Development Fund empowerment initiative is aimed at developing African women in businesses. It is a female-only grant that runs through the continent in empowering women.

It  gives grants to associations handling the issues of body and health rights, ladies' monetary security, equity, leadership, investment business that concerns women.

Available FG Grants for Nigerian Businesses

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2.CBN Creative Industry Financing Initiative

According to report gathered, The CBN is in collaboration with the Bankers' Committee which includes GTBank as part of efforts to boost job creation in Nigeria, particularly among the youth, has developed a Creative Industry Financing Initiative (CIFI).

More so, The Central Bank of Nigeria is in partnership with the Banker's committee which recently launched Creative Industry Financing Initiative (CIFI) aimed at improving access to low-cost sustainable funding for entrepreneurs in the creative/IT sector.

The program, though not a grant, offers one of the lowest interest rates in the country at 9%. And it is open to youths with business ideas in Fashion, IT, Movies, and Music.

Target Market

• Fashion – seed funds of N4.0 billion
• Information Technology – N5.5 billion
• Student Software development – N1.0 billion
• Movie – N3.0 billion
• Music – N4.0 billion

Eligibility

• Must b a Nigerian with business domiciled in the country.
• Must have an existing business in the creative industry.
• Or a tech company engaged in the creative industry
• Or a student of higher learning engaged in Software development.
• The business must be in any of the verticals: Fashion, IT, Movie production and distribution, and Music.

Apply Here

Available FG Grants for Nigerian Businesses

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3. National Institutes of Health Grant

This institution provides opportunities for business owners running a small scale business and companies that are into research and industrialized innovative technologies.

1. Your company or organization must be into research.

2. It must also be commercially innovative.

3. Visit the online portal to fill and submit your application.

Apply Now

Available FG Grants for Nigerian Businesses

4. Lagos State Entrepreneurs Trust Fund (LSETF).

The Lagos State Employment Trust Fund (LSETF), was established by The Lagos State Employment Trust Fund Law 2016 to provide financial support to residents of Lagos State, for jobs, wealth creation and to tackle unemployment.

According to report gathered the Lagos State Employment Trust Fund has the mandate to directly invest ₦25Billion in helping Lagos residents grow and scale their Micro Small and Medium Enterprises (“MSMEs”) or acquire skills to get better jobs.

Available FG Grants for Nigerian Businesses

5. GroFin Fund

GroFin is a specialist, impact-driven financier who helps entrepreneurs succeed by providing them expert advice, continuous guidance, and financing to grow their businesses.

We understands that GroFin has a fund size of US $100+ Million to funding Nigerian micro, small and medium businesses (MSMEs) across the country.

To be eligible:

• Your business operates in one of the following countries: Nigeria, Ghana, Zambia, Egypt, South Africa, Kenya, Tanzania, Rwanda, Uganda.
• Your business is for profit.
• Also, your business has a turnover of less than US$ 15 million and assets less than US$ 6 million.
• You require financing between US$ 100,000 and US$ 1.5 million.
• The business is owner-operated and/or the owner is substantially involved in running the business.

Available FG Grants for Nigerian Businesses

6. National Institute of Food and Agriculture (NIFA) Grants.

NIFA is a federal-owned agency under the umbrella of USDA (United States Department of Agriculture). This grants, however, focuses on nonprofit organizations, larger businesses, and leadership that tries to advance agriculture.

Furthermore, the agency disburses federal funds to tackle agriculture-related issues affecting the nation. Also, NIFA spins throughout the year, offering different grants to foster healthy competition in the agricultural sector.

Available FG Grants for Nigerian Businesses

7. Bank Of Industry (BOI)

Bank of Industry Limited is the oldest and largest Development Finance Institution currently operating in Nigeria. It is owned by the Ministry of Finance Incorporated Nigeria, the Central Bank of Nigeria and private shareholders.

The Bank of Industry (BOI) recently launched a youth empowerment program for young and talented entrepreneurs looking to venture into various sectors of Nigeria's economy.

The Youth Entrepreneurship Support (YES) Programme is BOI's effort at addressing the worrisome phenomenon of youth unemployment in Nigeria by building the capacity of the youths and funding their business ideas.

The YES program is aimed at equipping young people with the requisite skills and knowledge to be self-employed by starting and managing their own businesses. The YES Programme comprises of;

1. Eight (8) weeks of intensive online Entrepreneurship and Business Management training which has the ability to test participants' understanding and track their progress.
2. Five (5) days of in-class Entrepreneurship and Business Management training.
3. Technical skills training in partnership with the various technical training and vocational institutes in the country.
4. Financing the businesses by BOI under its SME Cluster initiative in consonance with the United Nations Economic Commission for Africa's commodity-based Industrialisation Strategy.

Eligibility

• The applicant must be a Nigerian.
• Must have a viable business idea within the 40 identified clusters that is operated, or will operate in Nigeria.
• Must be within the age limits of 18 and 35. (proof of identity: International passport/Driver's License/National ID/Voters card required).'
• Must possess a minimum educational qualification of Ordinary National Diploma (OND).
• Applicants must be able to carry out the application process online.

8. Government Enterprise and Empowerment Program (GEEP)

• This is created to provide micro-credit facilities for men and women with the aim of reducing poverty among rural areas and provide skill development, training, and business support, thus rebuilding the economy of the rural areas.These are for artisans and owners of SMS businesses across the nation. Business owners can only access a maximum of N100,000 per year.How to Apply1. You must be a member of a business organization.2. Visit the online platform to fill and submit your application.

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