Presidential Trade Grant Update: Do This For Grant Approval Today

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Presidential Trade Grant Update: Link Your NIN for Grant Approval.

Great news for applicants of the Presidential Trade Grant program. The government is working hard to process applications and ensure grants reach eligible businesses.

Presidential Trade Grant

Here’s what you need to know:

  • New Requirement: The Central Bank of Nigeria (CBN) now requires all applicants to link their National Identification Number (NIN) with their bank account.
  • Why? This ensures secure and efficient grant disbursement.
  • How will I know? The Ministry will send a text message (SMS) from “FGGRANTLOAN” with instructions to submit your NIN securely.
  • Action Needed: Follow the secure link in the SMS to submit your NIN. This step is crucial for receiving the grant.
  • Only verified applicants will receive the SMS. Your NIN must match your application name for approval.

Background on the Grant Program:

  • Launched in December 2023, the program offers N50,000 grants to support small businesses (nano businesses) across Nigeria.
  • The goal is to empower one million businesses in all 774 local government areas.
  • Priority is given to women, youth, people with disabilities, and senior citizens.

Stay Informed:

  • The Ministry appreciates your patience and will keep you updated on your application status.
  • This is a separate program from the N75 billion loan scheme for larger manufacturers announced by President Buhari in August 2023.

Key Points:

  • Link your NIN to your bank account for grant approval.
  • Follow instructions in the SMS from “FGGRANTLOAN”.
  • Only verified applicants will receive the grant.
  • This program supports small businesses.

We hope this clarifies the latest update on the Presidential Trade Grant program. Don’t hesitate to contact the Ministry if you have any questions.

Important FAQs:

What type of businesses are eligible? 

This program targets small businesses (nano businesses) operating in various sectors. There may be specific guidelines outlined by the Ministry, so check their official website for details.

Is there a deadline to submit my NIN? 

While there’s no announcement yet, it’s best to submit your NIN as soon as you receive the SMS to avoid delays in processing your application.

Can I apply if I didn’t include my NIN during the initial application? 

Yes, you can still receive the grant. Follow the instructions in the SMS to link your NIN.

What if I don’t have a bank account? 

Unfortunately, a bank account linked to your NIN seems to be mandatory for receiving the grant. You may want to consider opening an account to qualify.

How can I contact the Ministry for further inquiries? 

The announcement doesn’t provide specific contact details. You can try searching the Ministry of Industry, Trade and Investment’s website for contact information or social media pages.

We hope this clarifies the latest update on the Presidential Trade Grant program. Don’t hesitate to contact the Ministry if you have any questions. Remember, linking your NIN promptly increases your chances of receiving the grant.

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