Bank of Industry confirms disbursement of N38.7 billion to nano businesses under trade grant scheme  

In a circular released on Sunday, BOI disclosed that a total of 774,593 individuals and businesses have benefited from the scheme so far.

The Presidential Conditional Grant Scheme is a palliative initiative designed for nano businesses, with a target of reaching 1 million beneficiaries, each receiving N50,000.

The scheme Is administered under the Ministry of Industry, Trade and Investment, with the Bank of Industry facilitating the process.

“The disbursement for the Presidential Conditional Grant Scheme (PCGS) is underway, empowering nano businesses across Nigeria to scale their businesses,” the Bank said in a statement. 

Business targeted under the Scheme

The nano businesses targeted under the scheme include:

Traders: Single retail marketers, corner shop owners, petty traders, and market men and women in open markets.

Food Services: Food and vegetable vendors.

ICT: Business centre operators, battery chargers, recharge card vendors, and call centre agents.

Transportation: Wheelbarrow pushers and independent dispatch riders.

Creatives: Makeup artists, fashion designers, and dry cleaners.

Artisans: Vulcanizers, shoemakers, painters, and repairers.