The FG loan grant application online portal is open to the public. The Federal Government of Nigeria has made good her promises to offer the citizens palliatives that will cushion the effects of the removal of petrol subsidy last year when it came into power.
FG loan grant application online portal is open
The FG loan grant application online portal is open and you can take advantage of this lofty objectives from the Federal Government of Nigeria to enjoy the palliatives that the Government of President Bola Ahmed Tinubu is rolling out to the public.
His government, after removing petrol subsidy, promised to help Nigerians live with the crushing economic effects of the removal by giving them cash palliatives to vulnerable individuals and businesses operating in the country.
Two sections of the FG loan grant scheme
There are two parts or two sections to the FG loan grant scheme:
Grants: The Federal Government will hand out the sum of N50000 to vulnerable people that are specially selected and spread throughout the local government areas in Nigeria.
Loans: The Federal Government will grant loans to registered businesses in Nigeria through Nigerian banks. The loans are for MSMEs and manufacturing companies.
Eligibility for the FG grant palliatives
The following people, according to the information in the portal, are eligible for the FG grant palliatives of N50000:
“The target beneficiaries are 70% women and youth, 10% people with disabilities, and 5% senior citizens, while the remaining 15% is distributed to other demographics”
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Eligibility for the FG loan palliatives
The following are some of the eligibility requirements for the FG loan palliatives:
- It must be a registered business in Nigeria with the Corporate Affairs Commission (CAC)
- It must have an official bank account in the company’s name
- The owner of the business must submit his or her BVN or NIN
- The CAC registration certificate and other documents must be submitted
Registration portal for the FG loan grant palliatives
The following is the registration portal for the FG loan grant palliatives.
Register at
https://fedgrantandloan.gov.ng/
And choose Grant or Loan depending on what you want.
More information about the palliatives scheme
According to the information on the loan and grant registration portal for Federal Government palliatives scheme:
“The Federal Government will collaborate with the State Governments, Honourable Ministers, NASME (Nigerian Association of Small and Medium Enterprises), Senators, and House of Representative Members, who will use the Federal Government’s selection criteria below to shortlist the beneficiaries from their constituents.”
“Eligible applications which meet the selection criteria will be shortlisted.”
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