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5 Top Grants in Nigeria and How to Apply

There are many opportunities to get grants in Nigeria. If you need grants, see the list here. You will also find the requirements and how to apply.

There are some of the recent and also interesting grants in Nigeria, which Nigerians can apply for. What then is a grant? A Grant is simply a subsidy that is given to either organizations or to individuals, which usually comes in the form of money or in form of support, which cannot be returned.

However, there are about five options that Nigerians can choose from among the available best grants in Nigeria. Nevertheless, I have decided to focus my attention on the best and most important options so as to describe each of  these options in detail. Having said that, below are some of these  grants any Nigerian can choose from.

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List of Grants in Nigeria and How to Apply
Grants in Nigeria and How to Apply – Photo Source: https://www.legit.ng

List of Grants In Nigeria:

1. Tony Elumelu Entrepreneurship Programme

I want to begin my list with this popular programme, sponsored yearly by a business magnate. The programme was launched sometime in 2015 for the purpose of providing business grants for entrepreneurs.

Every year, about 1,000 people are usually selected to participate, and after which, they are given funds for their business start-ups. The application is free, so you can go ahead and apply for the grant.

Requirements:

-You must reach at least 18 years of age before you apply.

-You must be a Nigerian.

-Your must run a profit organization for at least 3 years, and must be in Nigeria.

-Find more information in the website.

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2. Bank of Industry

The Bank of Industry is known for their programme of offering a variety of grants for all category of entrepreneurs.

For example, supposed you are a NYSC member still in service,, you are eligible to apply for the grant called, ‘Graduate Entrepreneurship Fund’ grant.

Requirement:

-Submission of your business idea. If your business ides is marketable, you may receive a grant worth of 2 million naira.

And supposed you are under 35 as a graduate, you are eligible to check out for the ‘Bank’s Youth Entrepreneurship Support’. The bank will provides funds for your business ideas, as well as, equips you with useful knowledge and skills.

In the area of agriculture, the Bank will offer you grants for agro processors through Cottage Agro Processing Fund.

Grants are also provided for film makers, and designers as well as, people, who are in the automotive industry. In fact, people with different interests are being given Grants. For more information, check the website: https://www.legit.ng

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3. GroFin Fund

GroFin is saddling with the responsibility of providing grants for small businesses in Nigeria and in Africa, as well as, in the Middle East. You can actually choose from these available GroFin fund, based on your needs, and they are;

-Aspire Growth Fund, and

-Aspire Small Business Fund, and

-Small Growing Business Fund, and

-Growth Africa Fund and the

-Aspire Nigeria Fund.

GroFin targets in on the businesses that are already existed. For instance, if you operate your business within the aforementioned places, and perhaps, your turnover is about or less than $15 million and perhaps, your assets is less than $6 million, and maybe it just requires between  $100 thousand and $1.5 million, then are eligible for GroFin grants.

Requirements:

The GroFin do has fairly strict quirements

4. AYEEN Financial Grants

This is for every young aspiring business person in the country. The good news is that, the ‘Africa’s Young Entrepreneurs Empowerment Nigeria’ has make provision for coaching, and for business mentorship. AYEEN has assisted in facilitation of businesses owned by thousands of entrepreneurs.

AYEEN’s grants can actually be used to funf any type business, especially small scale businesses. They do not have any stake in your business, apart from making provision for the necessary money for you to use and develop your business.

Requirements:

Every Nigerian has a fair opportunity to access this grants

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5. Lagos State Entrepreneurs Trust Fund

The very last grant  I want to mention in this article, is the Lagos State Entrepreneurs Trust Fund. This is a good news for Lagosians.

This Fund can actually be of enormous help to the people of Lagos, who are in dare need to access funds so as to either start their own businesses or expand their businesses.

The grant programme has also come up with an innovative initiative called, ‘Lagos Innovates’, with the sole aim of supporting the people who may wish to invest in the tech business.

This particular fund is specifically for the purpose of helping the people to develop ther Micro scale businesses, and Small scale businesses as well as, Medium scale businesses in Lagos State.

The programme comes with the provision of both knowledge for the business and the necessary funds to start or expand such business.

Although Lagos Innovates is a new initiative, it has however, helped over hundreds of persons, who are in business.

Besides all these, the grant programme has taken an extra mile to further create more jobs for the people in Lagos, as well as, boost the productivity of the Lagos state, while making Lagos state a desirable and sought after destination through the support of diff initiatives for Lagosians.

Its mandate is to make sure that, it energises the Lagos state economy, and also ensure that, there is availability of competent workforce in the state.

And note, should your friends or someone that is close to you, or your relatives, are in need of financial assistance in Nigeria.

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Conclusion

You can always choose from the above five options as a Nigerian, and they are the available best grants in Nigeria. I have described each of  these options in detail. Make your choice.

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Joseph Athanasius

Joseph Athanasius is a Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

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