Reports are making the rounds that the Federal Government may soon launch Phase Two of the ₦50,000 Presidential Conditional Grant Scheme (PCGS), targeting another one million small business owners across Nigeria.
According to circulating information, this second phase will support nano and small businesses under the Presidential Palliative Program. Beneficiaries are expected from sectors like trading, food services, ICT, transportation, creatives, and artisans.
The scheme, if confirmed, will follow the same model as the first phase, which was rolled out on March 9, 2024, by the Federal Ministry of Industry, Trade, and Investment with the Bank of Industry (BOI) as the executing agency.
Each selected beneficiary will reportedly receive ₦50,000, paid directly into their bank account, with no repayment obligation.
The grant distribution is also expected to retain the same structure:
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70% women and youth
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10% people with disabilities
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5% senior citizens
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15% others
To qualify, applicants would need to provide their NIN, BVN, proof of residence or business address, and evidence of running a small business with growth potential. They must also show willingness to expand and employ at least one additional staff member when necessary.
Although excitement is building, authorities have not yet officially confirmed Phase Two. Small business owners are therefore advised to remain calm and wait for an official announcement from the Federal Government, BOI, or SMEDAN before applying.
If launched, applications will likely be submitted again via the official portal: https://grant.fedgrantandloan.gov.ng.
For now, many entrepreneurs and traders are keeping a close eye on updates as anticipation grows nationwide.
