The Presidency has rolled out the presidential conditional grant scheme to empower nano businesses as part of the presidential palliative programme.
Application for the presidential conditional grant have been conducted since the 10th of October 2023. According to the government plan, the disbursement of the grant should have started since December 2023.
The scheme offers financial grants, without repayment obligations, to eligible small business owners operating in various sectors, such as trading, food services, ICT, transportation, creatives and artisans. The PCGS targets 70 per cent women and youth, 10 per cent people with disabilities, and five per cent senior citizens, with the remaining 15 per cent distributed to other demographics.
The aim of this scheme is to encourage nano businesses and provide support for them to thrive in the country. It is also to encourage sustainable economic development at the grassroot level.
The emphasis of the PCGS is on inclusiveness and empowerment of mostly the overlooked business owners and entrepreneurs. Those selected to be awarded cthe grant have been selected based on certain criteria to ensure profitability. the PCGS is poised to make a tangible impact on the lives of small business owners and their communities across Nigeria.
We commend the government on this initiative to support nano businesses at the grassroot level. The disbursement of this grant will encourage business owners and foster economic development of the country. Most of the people benefiting from this scheme are hardworking and business driven individuals which would serve as a good opportunity to increase standard of living.
However, public opinion holds a different view, members of the public have considered this as one of the ways the government seeks to cyphon money, alleging that the grants will never get to the grassroot but will be shared and devoured by persons in authority.
Others are pessimistic about the ability of the grant to bring any change stating that the condition of the country do not provide a fair-weather for nano-businesses to thrive and the grant given is insufficient to impact the lives of Nigerians at the moment.
