9 Business grants in Nigeria you should know plus grants for NGOs

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Many business owners in Nigeria would love to receive grants in Nigeria to jumpstart or power their small businesses. But getting a grant comes with some challenges.

Perhaps the first challenge you might have with accessing business grants is that as a business owner you may not even be aware of the grants that are out there. Well, that is what this article hopes to change.

In this article, we would discuss the various business grants that Nigerian businesses can take advantage of in order to fund their businesses. We would also talk about grants for NGOs in Nigeria. But first, we have to clarify what business grants are.

What are business grants?

A business grant is an amount of money awarded to a business for the purpose of executing projects or initiatives. It is awarded by government agencies, a corporation or a non-profit. Unlike loans, it does not have to be repaid. 

What Organization gives grants in Nigeria?

Let us discuss some of the many organisations that award grants to businesses in Nigeria.

1. Lagos State Entrepreneurs Trust Fund (LSETF)

The Lagos State Employment Trust Fund (LSETF) was established by the Lagos State government in 2016. Its primary aim is to tackle unemployment by making finance available to Lagos residents for the purpose of Job and wealth creation.

So, if you are a Lagos resident, this is something you should look into. The LSETF offers grants through programmes like the Lagos CARES programme. You can receive as much as N1.5 million naira in grants as a small business owner.

Eligibility

In order to apply successfully, some of the criteria you should meet include;

  • You must be a  Lagos state resident 
  • You must own a registered business.

2. Tony Elumelu Entrepreneurship Programme (TEEP)

The name ‘Tony Elemelu’ is well known amongst Nigerian business people. Tony Elumelu is a Nigerian Banker, businessman and philanthropist known for empowering business owners across africa.

The Tony Elumelu Entrepreneurship Programme provides funding for entrepreneurs across Africa with viable business ideas. A grant of $5000 is awarded to business owners that successfully apply for the TEEP.

Some eligibility criteria include;

  • You must be from an African country
  • You must have a viable business idea
  • You must be at least 18 years old

3. Africa’s Business Heroes (ABH)

Africa’s Business Heroes is a program launched by the Jack Ma foundation. It provides grant funding to entrepreneurs making a positive impact in the African community. 

Each year, 10 African businesses are selected to compete for their share of over $1.5 million. During the competition, these entrepreneurs would have access to training and mentorship from the organisation. Top 10 finalists gain grants ranging from $100,000 to $300,000.

To be eligible you have to meet the following criteria;

  • You must either be an African citizen, the child of an African citizen or the grandchild of one.
  • You must be a founder of the business.
  • Your company must be registered and headquartered in Africa
  • Your company should have already gained some traction in the market and should have earned revenue for at least 3 years.

4. Shell LiveWIRE

The Shell Petroleum Development Company of Nigeria has an economic development programme (Shell liveWIRE) in Nigeria aimed at improving the standard of living of young people in Nigeria.

Shell LiveWIRE supports young people aged between 18-35 years who want to start their own businesses with business grants. The programme focuses on young people in states such as Abia, Imo, Akwa Ibom, Edo, Delta, Bayelsa and Rivers (Niger Delta States)

liveWIRE primarily provides training for these young people and prepares them to access more funding from financial institutions.

Participants get these grants through the Young Business Leaders Awards granted by Shell liveWIRE.

Some criteria you have to meet to be eligible include;

  • You must be aged between 18-35 years.
  • You must be from the Niger Delta region.
  • You should possess either a HND or degree in any discipline.
  • You should have an innovative business idea.

5. Diamond Bank BET Program

The Building Entrepreneurs Today programme (BET) was established in 2010 as a capacity building and business education initiative. Its primary purpose is to stimulate interest in Entrepreneurship and support budding entrepreneurs of all ages.

BET selects and trains 50 budding entrepreneurs each season for six months. The top 5 entrepreneurs will win financial grants of up to 3 million naira each.

Some of the eligibility criteria include;

  • You must be at least 18 years of age.
  • You must have a business that has been operational for at least 3 months.

6. Bet9ja Youth Executive Programme

Bet9ja’s Youth Executive Programme is one impressive youth empowerment programme powered by the private sector.

The programme gives employability skills training, Entrepreneurship skills masterclass, mentorship, internship and most importantly a business grant of up to N500,000 for graduates who plan to start and grow their own businesses.

Some of the eligibility criteria include;

  • You must be between 21- 30 years old (you can be up to 35 if you have a disability)
  • You must have graduated within the last two years.
  • You must be a fluent speaker and writer of English.
  • You must be able to travel to the training and placement centers when asked.

7. Presidential Conditional Grant Scheme (PCGS)

This grant is designed to provide support to over 1 million nano businesses in Nigeria with a grant award of N50,000.

If you run a really small business, N50,000 might help you move the needle for you with your business goals. 

The grant targets businesses involved in trading, services, creative endeavours like fashion, transportation and artisans.

To be eligible for this grant, you would need to meet the following criteria;

  • You must own a Nano business (a small business run by a single person in most cases)
  • You must have your NIN, BVN and proof of residency or business address in your local government.
  • Your business must have growth prospects and you must be willing to employ at least 1 more person if it grows.

8. AYuTe Africa Challenge

The AYuTe Africa Challenge is a programme launched by Heifer International. 

Through this challenge, innovative young agritech entrepreneurs can receive cash grants of up to 1.5 million dollars and secure visibility for their businesses. 

Eligibility criteria include;

  • You must be able to provide financial statements for your venture.
  • You must be aged 18-35 years
  • Your innovative ideas must be focused on agriculture.
  • You should be a Nigerian and possess a government issued ID (National ID card, International Passport or Permanent voters card)
  • You mustn’t have a criminal record.

9. Orange Corners Nigeria

Orange Corners Nigeria is an initiative funded by the Embassy of the Kingdom of Netherlands and implemented by FATE Foundation.

It is an incubation programme that inspires and supports aspiring entrepreneurs to turn their ideas into a business. Entrepreneurs receive training, funding, mentorship and advisory services.

Luckily, business owners can raise funds through this programme. Besides getting linked to financial institutions that can fund your ideas, you can also receive funding to develop prototypes and test your ideas.

Some eligibility criteria for this programme include;

  • You must be between 18-35 years old
  • Your business idea must be able to solve a Local problem in Nigeria.
  • Your business idea should be validated and not be more than 2 years old.
  • Your idea should also be related to the Sustainable Development Goals.

How can I request financial help in Nigeria?

If you need financial help to fund a business, you can take advantage  of any of the above programmes.

Ensure you apply for a programme where you meet their eligibility criteria. Note that applications for grants are not open throughout the year. So, it is important to keep one’s ear to the ground in order to ensure that you don’t miss application timelines.

Are there grants for NGOs in Nigeria?

Yes, there are and one of them (AWDF) has already been discussed in this article.

But there are other grants available for people running NGO’s.  Let’s go over them.

1. Bet9ja Foundation Grant

Bet9ja doesn’t only offer betting. The company has a philanthropic side which business owners like you can be thankful for.

Social entrepreneurs and NGOS that have projects in areas that align with the foundation’s priorities. Such areas include: youth empowerment, education, sports etc.

2. African Women Development Fund (AWDF)

The African Women Development Fund provides funding for organizations that promote women’s rights.

AWDF offers grants in three streams.

  1. Open grants- For organisations that promote gender equality and the rights of women and the girl child.
  2. Kasa Initiative Grants- For organisations that work on projects combating sexual violence.
  3. Komboa Grants- For organisations working to empower women and the girl child in Africa to exercise their voice.

Some eligibility criteria for qualifying for these grants include;

  • Your organisation must be run by women
  • The goals of the organisation should be focused on women
  • Your organisation should be registered in an African country.
  • Your organisation should have been operational for up to three years.

3. Global Fund for Women

If your NGO runs a feminist project then you are in luck. The Global Fund for Women funds grassroots movements for gender justice.

This fund is quite unique because of their approach to making funding decisions. Grants are issued based on the decisions of the gender justice movements supported by Global Fund for Women.

What this means is that your project has to align with the goals and aspirations of those movements.

Conclusion

There you have it! Opportunities still abound despite the plethora of challenges we face as Nigerians. If you need a grant, I suggest you start by visiting the websites and social media handles of these organisations and begin your application process once you confirm that applications are ongoing

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