The Federal Government has introduced a new support package for small business owners through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). The initiative provides financial aid of ₦50,000 to micro enterprises operating at the local government level across the country.
The programme, known as the Conditional Grant Scheme (CGS), was created to help very small businesses stay afloat, expand, and contribute to job creation in their communities.
Beneficiaries are expected to use the money to strengthen their operations and employ at least one additional person, thereby boosting grassroots economic growth.
The scheme covers a wide range of projects including technology upgrades, market expansion, capacity building, and other activities that can improve business competitiveness.
Selected entrepreneurs will also undergo monitoring and evaluation to ensure proper use of the funds.
According to SMEDAN, the grant targets women, youths, people with disabilities, senior citizens, and other groups, with women and youths making up the largest share of beneficiaries.
Interested business owners can apply through designated online portals and government offices by submitting proper documentation and project proposals as required in the guidelines.
This new initiative follows the federal government’s ongoing effort to ease access to funding for small businesses and support economic development at the local level.
