Get all the latest updates on the FG N200 Billion Grant 2024: Who is Eligible? Payment Dates, How to Claim Here. If you are grappling financially with your business, then this article will surely benefit you. We have a piece of excellent news for all Nigerian Business Owners.
FG N200 Billion Grant 2024
As of 2024, the Nigerian Government has currently announced a new initiative named the Presidential Intervention Fund. The authority has allocated around N200 billion to assist small business boost. The Government has finally introduced a new program that set aside N200 Billion to aid small businesses and manufacturers across the nation.
This initiative is especially designed for small business owners to help them retrieve from recent financial strain. Small businesses that can benefit from this grant include shops, food vendors, tech businesses, and transportation and service providers.
Who is Eligible For FG N200 Billion Grant?
To qualify for the Presidential Intervention Fund, you should meet the specific eligibility requirement set by the Nigerian Government.
- The applicant should hold a small business within the country to avail of the grant.
- Business owners running the business for a year can be enrolled in the program.
- If you are new to the business but have an official registered, you can apply for the FG N200 Billion Grant.
- The claimant must show evidence such as proof of business, and the existing business has to submit the bank statement of their company.
- If you are an owner of a startup company, you need to provide your bank statement.
It is important to note that the claimant should meet the required monthly revenue and adhere to other conditions as stated by the bank.
FG N200 Billion Grant Payment Dates
Presidential Intervention Fund is a Government initiative disbursing financial assistance to business owners in the form of grants. Unlike loans, the grants do not need to be paid back. The total amount of the grants is N200 Billion, which will be offered to eligible businesses in three major categories. The major purpose of the program is to strengthen the manufacturing sector, boost the production efficiency of businesses, and create more job opportunities by offering attractive salaries.
As a part of the application process, the claimants are required to submit the National Identification Number. The first page of payment has already been initiated by the Government. If you believe you were eligible but did not receive the payment despite applying, immediately reach out to the officials to know the exact reason.
How to Claim FG N200 Billion Grant?
If you want to enrol on the Presidential Intervention Fund program, you have two options to claim: either by using the official portal or by visiting the bank branch. If you are unfamiliar with the online portal, you have the option to visit the bank’s local branch. If you face any issue with the application process, you can seek guidance from the official and contact them at the hotline number available on their website.
Once you have submitted the application, the officials will review the form. However, the processing time may vary and can extend depending on the number of applications submitted. Do not miss out on the opportunity to upgrade your business and take it to the next level.
All We Know
The official announcement regarding the N200 Billion Grant was made by Doris Uzoka-Anite on 22 April 2024. The amount you can get through the program depends on the type of business you hold and your financial circumstances. you are advised to carefully fill out the form in order to avoid rejection of the application.
If you believe that your business is eligible, grab the opportunity and take advantage to boost your business finances. To get the most updated information, it is advisable to keep visiting the official portal so that you do not overlook any significant information or updates regarding the grant.
