FG opens portal for loans, grants to petty traders, other businesses

By Samuel Ogunsona

The Nigerian Federal Government has rolled out a porta for loans and grants applications for petty traders and other businesses across the country.

This comes as part of the Renewed Hope Agenda in the administration of President Bola Tinubu under the presidential palliative programme.

The néw initiative is to support one million small businesses in all the 36 states in the federation.

Beneficiaries are to be offered N50,000 each for their businesses.

However, the federal government will partner with state governments, ministers, NASMEs, senators, and rep members, in other to shortlist beneficiaries that will gain access to the grants.

It is understood that 70% of the grant will be given to women and youth-owned businesses, 10% to people with disabilities, 5% to senior citizens, and the remaining 15% allocated to other groups.

Targeted groups in this initiatives includes traders, food services, business centre operators, battery chargers, recharge card sellers, and call centre operators.