You have spoken and we have listened. Due to numerous inquiries about the Presidential Grant Scheme, we've compiled a list of FAQs to clarify common concerns.

Many have already received their grants—thank you for your patience! For those waiting, please hold tight.

The disbursement process is ongoing in batches and NOT yet completed. All remaining successful applicants will receive their alerts between now and the end of May. No further action is needed on your part for now.

For those who missed out on the nanobusiness grant, you may be eligible for a single digit interest loan. Applications are still ongoing at fedgrantandloan.gov.ng

The FAQ below will address most of the other issues and concerns that have been raised.

#PresidentialConditionalGrantScheme

Hon (Dr) Doris Nkiruka Uzoka-Anite MD,CFA

FEDERAL MINISTRY OF INDUSTRY, TRADE & INVESTMENT

Presidential Conditional Grant Scheme Q & A

1. What was the eligibility criteria for businesses to qualify for the N50 billion grant from the Bank of Industry?
Answer: Eligible businesses are nano businesses seeking to expand. They have to be willing to formally register their businesses and hire at least one additional person as their turnover increased. Requirements included personal and banking information such as BVN and NIN.

2. Has application for the grants closed? Answer: Yes the application portal was closed at midnight on April 17th 2024.

3. Why was the application portal closed for grants?
Answer: The portal was closed due to an overwhelming number of applications, totaling over 3.6 million.

4. How will the BOI ensure transparency and accountability in the disbursement process of the N50 Billion grant?
Answer: The BOI uses NIN, BVN, and bank account details for beneficiary verification to prevent duplication. They also perform physical enumeration to re-verify information, including taking live photos of beneficiaries.

5. What is the time frame for the disbursement of the N50 billion grant?
Answer: The disbursement is currently in progress and processed in batches. It is expected to be completed by the end of May 2024.

6. Are there specific criteria or priorities for determining the order of disbursement to businesses?
Answer: Disbursements aren't based on any specific criteria but in the order applications are verified. The goal is to reach an estimated 1290 beneficiaries per LGA across the country totaling 1 million.

7. Why are some people getting their alerts but not me, even though I applied earlier?
Answer: Disbursement is subject to verification of NIN, which became mandatory after the initial application phase which required only BVN. The selection is random, without human intervention, from those who have passed both their NIN and BVN verification.

8. How do I know if I have been verified?
Answer: Verification is a digital process. Individuals will not need to be contacted after verification, but disbursements will happen automatically if they passed.

9. Will everyone who applied receive the grant?
Answer: No, of over 3.6 million applicants, only 1 million will receive the grant. This is the threshold based on the amount budgeted for nano businesses.

10. Why can't you verify and pay everyone at the same time?
Answer: The verification process for over 3 million applications has been thorough and therefore time-consuming, conducted in batches to minimize errors.

"The portal was closed due to an overwhelming number of applications, totaling over 3.6 million."

Poverty plenty for Naija, everybody wants presidential grants.


Bulaba please create jobs for Nigerians and stop destroying investments already in the country.

First to comment

This country don tire me

Any obedient that collect any of these grant and loans is not a true follower of Peter Obi.

Vagabonds at the gate.

Why not organize a media parley with the people concerned .


Sometimes we lack the proper channel to address some vital issues.


infact the Country has lost control of it bad leadership.

Kai

Fake news. Fake disbursement.

Nice and proactive

tunjijones:
Any obedient that collect any of these grant and loans is not a true follower of Peter Obi.

You are irredeemable

Is the coming from their personal pockets

tunjijones:
Any obedient that collect any of these grant and loans is not a true follower of Peter Obi.

Thunder will fire them if they do.

Lubbish

What a mess country

That money is a conduit pipe for political compensation.

tunjijones:
Any obedient that collect any of these grant and loans is not a true follower of Peter Obi.

Money that have not been disbursed

Delusion is your another name

Toh

Check the list of people paid then you will know is not as always said

Be careful
Run as fast as you can from Insurance companies in Nigeria...They don't pay claims.

Example..IGI INSURANCE COMPANY

Slytiger:

Thunder will fire them if they do.

Thunder will actually fire those who are against others from benefiting from it

Check the list of people paid then you will know is not as always said

Be careful
Run as fast as you can from Insurance companies in Nigeria...They don't pay claims.

Example..IGI INSURANCE COMPANY

Abeg o make e reach me o. I bid dat Moni seriously.

We don't set our priority right in this country.. How can you be disbursing 50k to people and for this they must employ one person and open business account and get their business registered.. Can the 50k even register a business in Nigeria.. This government is just wasting money. They are just making a mockery of themselves.. Who is giving this phoolish economic advice?

Mopolchi:
"The portal was closed due to an overwhelming number of applications, totaling over 3.6 million."

Poverty plenty for Naija, everybody wants presidential grants.


Bulaba please create jobs for Nigerians and stop destroying investments already in the country.

First to comment

Same way development is trade symbol of western world, same way poverty and illiteracy is trade symbol of African countries.
Funny that the citizens of this shit hole country have taken poverty and illiteracy as normal way of life, so pathetic.

Lol what can 50k do for any business, those collecting are ignorantly seeking chop money nothing more, no smart person will take this govt seriously, measley 50k and they're not even ashamed to talk about it, poverty capital of the world, see the criteria for qualification yet, what a bunch of jokers in a zoo.

totalhouse:
We don't set our priority right in this country.. How can you be disbursing 50k to people and for this they must employ one person and open business account and get their business registered.. Can the 50k even register a business in Nigeria.. This government is just wasting money. They are just making a mockery of themselves.. Who is giving this phoolish economic advice?

Lols

Even the government knows there are just giving the people chop money. At least to keep the masses quite for a while.

Which reasonable investment you wan do with ₦50k? Come employ another person join.... I laugh in Swahili

It is well

Some people did not even do the capturing and they have been credited already. . .

tunjijones:
Any obedient that collect any of these grant and loans is not a true follower of Peter Obi.

Well said Comrade

Any Obidient that attempt or apply for it, red thurnder should locate him/ her immediately