The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has reopened applications for its Conditional Grant Scheme, offering eligible nano and micro enterprises a one-time, non-repayable grant of N50,000 to support business growth.
The agency said the initiative is designed to provide financial support to small businesses, helping them strengthen daily operations, expand their activities and create jobs.
Under the scheme, beneficiaries are required to employ at least one additional worker as a condition for accessing the grant.
SMEDAN explained that the programme is aimed at making funding more accessible to small businesses that may struggle to secure conventional loans, while promoting entrepreneurship, boosting productivity and stimulating economic activities at the grassroots.
The agency also clarified that the Conditional Grant Scheme is separate from the Presidential Conditional Grant Scheme, although both programmes provide N50,000 grants to eligible nano businesses.
The grant targets nano and micro enterprises operating across Nigeria’s local government areas. Applicants are expected to provide accurate personal and business information during the application process.
According to SMEDAN, beneficiaries are expected to use the funds for legitimate business expenses that will enhance the performance and competitiveness of their enterprises.
