The Bank of Industry (BOI) has given out more than N37.8 billion through a program called the Trade Grant Scheme. This is also known as the Presidential Conditional Grant Scheme.
On Sunday, BOI shared some news. They said that 774,593 people and small businesses have already received money from this program.
The Trade Grant Scheme is a special help plan made for very small businesses, also known as nano businesses. The goal is to give money to 1 million people. Each person will get N50,000.
This program is managed by the Ministry of Industry, Trade and Investment, and the Bank of Industry helps run it.
“We are giving out money right now with the Trade Grant Scheme. This helps small businesses in Nigeria grow,” the Bank said.
Types of businesses that receive help from the Scheme
The businesses that can get help from the scheme include:
Shops and Traders: People who sell things in small shops, markets, or even on the street.
Food Sellers: People who sell food and vegetables.
Technology Services: People who run places where you can use a computer, charge batteries, sell phone credit, or work in a call center.
Transport Services: People who push wheelbarrows or deliver packages on bikes.
Creative Jobs: People who do makeup, make clothes, or clean clothes.
Skilled Workers: People who fix things like shoes or cars, paint, or do other repair jobs.
Important Things to Know
- The Trade Grant Scheme is part of a big help program from the President. It was made to support small businesses after some government changes.
- It started in December 2023, but the first payments to people started in April 2024.
- Most of the money will go to women and young people (70%), some to people with disabilities (10%), some to older people (5%), and the rest (15%) to other people.
- So far, more than 700,000 people have received money, but over 200,000 are still waiting for their turn.