Searching for business grants in Nigeria is a lot like checking under your couch cushions for cash. Most days, you find nothing. But once in a while, you stumble on something useful.
SMEs make up the backbone of Nigeria’s economy. They drive 48 per cent of GDP and provide 84 per cent of jobs, according to SMEDAN and the National Bureau of Statistics. Still, many of these businesses face one major challenge – funding.
Loans can be hard to access or come with steep interest rates. Investors, meanwhile, are not lining up for early-stage businesses. Grants offer a softer landing, especially for those just getting off the ground.
This guide walks you through active and recurring business grants in Nigeria. You will learn who they are for, how much they offer, and how to apply without missing key details.
Key Takeaway
- Business grants in Nigeria provide non-repayable funds to help entrepreneurs start, grow, or sustain their ventures.
- Key sources include government agencies, private foundations, and international organisations targeting youth, women, and SMEs.
- Successful applications require clear documentation, a strong business plan, and alignment with the grant’s purpose.
- Apply early, tailor proposals to the grant, and follow updates via trusted platforms like Entrepreneurs.ng.
See also: Best Small Business Government Grants – Complete Free Funding Guide
Top Business Grants in Nigeria
Business grants are strategic tools for entrepreneurs who want to start, stabilise, or scale their businesses without the burden of repayment.
The following programmes are worth paying attention to if you are looking for realistic funding opportunities to grow your venture.
1. Presidential Conditional Grant Scheme
The Presidential Conditional Grant Scheme is one of Nigeria’s most accessible government funding programmes, aimed at helping nano businesses thrive without the burden of repayment.
With a straightforward application process and a focus on underserved groups, it offers a lifeline to entrepreneurs operating in retail, food services, crafts, transport, and other small-scale sectors.
Below is an overview of the Presidential Conditional Grant Scheme:
| Feature | Details |
|---|---|
| Grant Name | Presidential Conditional Grant Scheme |
| Target Beneficiaries | Nano businesses in local markets or informal settings |
| Grant Amount | ₦50,000 one-time disbursement |
| Eligible Sectors | Retail, food services, crafts, transport |
| Priority Groups | Women, youth, the elderly, and persons with disabilities |
| Key Advantages | No repayment, no collateral, no equity surrender |
| Use of Funds | Boost inventory, upgrade tools, and cover basic logistics |
| Application Requirement | Must belong to a registered cooperative or association |
Apart from being a part of a registered cooperative or association, business registration is often encouraged, and this is something our team can help you achieve quickly through our business registration services.
2. SMEDAN Conditional Grant Scheme
The SMEDAN Conditional Grant Scheme is designed to help informal Nigerian businesses transition into the formal economy while providing financial and structural support.
Beyond the ₦50,000 cash grant, the programme offers training, business registration, and in some cases, essential tools or equipment, making it a stepping stone for microbusinesses to scale and access larger funding opportunities.
Below is an overview of the SMEDAN Conditional Grant Scheme:
| Feature | Details |
|---|---|
| Grant Name | SMEDAN Conditional Grant Scheme |
| Administered By | Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) |
| Target Beneficiaries | Informal businesses ready to formalise |
| Grant Amount | ₦50,000 |
| Additional Support | Training, business name registration, tools or equipment (location-dependent) |
| Eligible Sectors | Trades, local manufacturing, services |
| Example Businesses | Tailors, hairdressers, shoemakers, and food vendors |
| Key Advantages | Cash support plus formalisation benefits |
| Long-Term Benefit | Prepares businesses for access to larger SME funding |
| Application Tip | Have tax ID, business structure, and basic business plan ready |
Our business plan template is a ready-to-use tool that can save you hours of work and help you meet these requirements confidently.
3. AGSMEIS by NIRSAL Microfinance Bank
The Agric-Business Small and Medium Enterprises Investment Scheme (AGSMEIS), run by NIRSAL Microfinance Bank, is a Central Bank of Nigeria initiative offering affordable financing to entrepreneurs in high-impact sectors.
While technically a loan rather than a grant, its low interest rate, no-collateral option, and built-in business training make it one of the most entrepreneur-friendly funding programmes in Nigeria.
AGSMEIS at a Glance
| Feature | Details |
|---|---|
| Programme Name | Agric-Business Small and Medium Enterprises Investment Scheme (AGSMEIS) |
| Administered By | NIRSAL Microfinance Bank (Central Bank of Nigeria initiative) |
| Funding Type | Loan with favourable conditions |
| Interest Rate | 9% per annum |
| Collateral Requirement | None for smaller loans |
| Target Beneficiaries | Entrepreneurs in agriculture, manufacturing, education, hospitality, creative industries, and other impact-driven sectors |
| Additional Requirement | Must complete certified entrepreneurship development training before applying |
| Use of Funds | Scaling production, opening new locations, branding, staffing, and other growth investments |
| Key Advantages | Affordable financing, training support, and no collateral for smaller amounts |
| Ideal For | Entrepreneurs seeking structured growth beyond quick cash injections |
It can also work well with tools like the Entrepreneurs Success Blueprint, which gives founders the systems and mindset they need to manage growth effectively.
4. Tony Elumelu Foundation Entrepreneurship Programme
The Tony Elumelu Foundation Entrepreneurship Programme is one of Africa’s most prestigious business support initiatives, offering funding, training, and mentorship to early-stage entrepreneurs across the continent.
With a strong focus on building impactful, scalable businesses, it provides not just capital but also a powerful platform for growth and global visibility.
Below is an overview of the Tony Elumelu Foundation Entrepreneurship Programme:
| Feature | Details |
|---|---|
| Programme Name | Tony Elumelu Foundation Entrepreneurship Programme |
| Administered By | Tony Elumelu Foundation |
| Funding Amount | $5,000 seed funding |
| Additional Support | World-class business training, ongoing mentorship, and networking opportunities |
| Target Beneficiaries | Entrepreneurs across all sectors in Africa |
| Eligibility Criteria | Business under five years old, operating within Africa |
| Key Advantages | Capital plus long-term capacity building and global exposure |
| Sectors Covered | Agriculture, health, technology, fashion, and more |
| Focus Areas | Innovation, business viability, and entrepreneur’s drive |
| Ideal For | Founders aiming to create scalable businesses that generate jobs and solve real problems |
One way to stand out in your application is to present a strong business plan that communicates your vision and market potential clearly. Our ready-to-use business plan template will help you put your ideas together quickly and professionally.
5. Nigeria Youth Futures Fund
The Nigeria Youth Futures Fund (NYFF) is a grant programme championing youth-led innovation and civic engagement.
Backed by LEAP Africa, the MacArthur Foundation, and the Ford Foundation, it empowers young leaders and social enterprises working to address education, leadership, governance, and other societal challenges.
With funding ranging from $1,000 to $50,000, it offers a platform for scaling impactful projects that blend enterprise with social change.
Nigeria Youth Futures Fund at a Glance
| Feature | Details |
|---|---|
| Grant Name | Nigeria Youth Futures Fund (NYFF) |
| Administered By | LEAP Africa, funded by the MacArthur Foundation and the Ford Foundation |
| Funding Range | $1,000 – $50,000 |
| Target Beneficiaries | Youth-led organisations and social enterprises |
| Focus Areas | Education, leadership development, governance, and civic engagement |
| Eligible Sectors | Civic tech, youth empowerment, education-focused startups, NGOs |
| Key Advantages | Significant funding, sustainability focus, and community-building support |
| Ideal For | Young entrepreneurs driving social change alongside enterprise |
| Application Tip | Articulate impact, importance, and measurable outcomes |
| Impact Goal | Inclusive growth and long-term societal transformation |
6. Flourish Africa Grant
The Flourish Africa Grant, founded by Apostle Folorunso Alakija, is a women-focused business development initiative offering both funding and intensive training to female entrepreneurs.
With a five-year commitment to disburse ₦1 billion and support over 2,000 women-led businesses, the programme blends capital, capacity-building, and mentorship to drive sustainable growth for women-owned enterprises across Africa.
Flourish Africa Grant at a Glance
| Feature | Details |
|---|---|
| Grant Name | Flourish Africa Grant |
| Founded By | Apostle Folorunso Alakija |
| Funding Pool | ₦1 billion over five years |
| Annual Grants | Up to 2,000,000 naira per business |
| Beneficiaries per Year | 1,000 women entrepreneurs |
| Target Beneficiaries | Women-led, growth-stage businesses |
| Additional Support | Intensive business and leadership training, mentorship |
| Eligible Sectors | Open to various sectors with clear expansion plans |
| Key Advantages | Funding combined with training and mentorship for sustainable growth |
| Selection Criteria | Commitment, capacity, strong growth and expansion plan |
| Application Tip | Prepare a compelling pitch, solid financials, and a detailed growth strategy |
7. Africa’s Business Heroes Competition
Africa’s Business Heroes, an initiative by the Jack Ma Foundation, is a prestigious pan-African entrepreneurship competition that recognises and supports exceptional business leaders across the continent.
Offering a share of $1.5 million in grant funding, plus mentorship, training, and international visibility, it provides a rare platform for entrepreneurs from all 54 African countries to showcase their innovation and impact.
Below is an overview of the Africa’s Business Heroes Competition:
| Feature | Details |
|---|---|
| Programme Name | Africa’s Business Heroes Competition |
| Founded By | Jack Ma Foundation |
| Annual Grant Pool | $1.5 million |
| Number of Finalists | 10 per year |
| Target Beneficiaries | Entrepreneurs from all 54 African countries |
| Eligible Sectors | Open to all industries |
| Key Advantages | Funding, mentorship, training, and global exposure |
| Selection Focus | Innovation, market fit, measurable impact |
| Eligibility Criteria | Co-founders or full-time operators of legally registered businesses |
| Application Process | Written application, video pitch, and interviews |
| Ideal For | Founders aiming for continental visibility and credibility |
8. Google for Startups Accelerator Africa
The Google for Startups Accelerator Africa is a highly competitive programme that supports tech-enabled businesses tackling critical challenges across the continent.
Offering equity-free support, mentorship from Google’s global experts, and cloud credits worth up to $350,000, it is tailored for Seed to Series A startups ready to scale innovative solutions with significant impact.
Google for Startups Accelerator Africa at a Glance
| Feature | Details |
|---|---|
| Programme Name | Google for Startups Accelerator Africa |
| Administered By | |
| Support Type | Equity-free support and resources |
| Additional Benefits | Mentorship, product development support, technical resources, and funding strategy advice |
| Cloud Credit Value | Up to $350,000 |
| Target Stage | Seed to Series A startups |
| Eligible Sectors | All tech-enabled sectors (e.g., fintech, edtech, healthtech) |
| Key Advantages | Access to Google’s engineering and product teams, global network, and increased investor visibility |
| Selection Focus | Innovation, scalability, and solving local or regional challenges |
| Eligibility Criteria | Viable product already launched, clear scaling potential |
| Ideal For | Founders seeking technical, strategic, and credibility-driven growth support |
See Also: What Is Series C Funding? How It Works and What Investors Expect
9. Lagos State Employment Trust Fund MSME Bootcamp
The Lagos State Employment Trust Fund (LSETF) MSME Bootcamp is a practical, government-backed training programme aimed at equipping Lagos-based entrepreneurs with the skills, networks, and funding pathways needed to grow their businesses.
Over one month, participants gain hands-on knowledge in key areas like finance, marketing, operations, and business structure, with the added benefit of connecting to local funding channels.
LSETF at a Glance
| Feature | Details |
|---|---|
| Programme Name | LSETF MSME Bootcamp |
| Administered By | Lagos State Employment Trust Fund |
| Programme Type | One-month intensive training |
| Focus Areas | Financial management, marketing, operations, and business structure |
| Additional Benefits | Networking with mentors and entrepreneurs, and exposure to funding opportunities |
| Target Beneficiaries | Small and medium businesses based in Lagos State |
| Key Advantages | Practical, real-world training tailored for Lagos businesses |
| Funding Access | Improved connections to loans, grants, and financing options |
| Ideal For | Entrepreneurs seeking both capacity building and funding pathways |
| Unique Selling Point | Combines skill-building with direct links to local funding networks |
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10. Mastercard Foundation FAST Programme
The Mastercard Foundation’s Fund for Alumni Startups in Transition (FAST) is a targeted funding initiative for alumni of its partner programmes, including the African Leadership Academy, YALI, and the Anzisha Prize.
Offering grants of up to $15,000, alongside mentorship and strategic advisory, FAST helps young African entrepreneurs navigate critical transition points and scale impactful ventures.
FAST at a Glance
| Feature | Details |
|---|---|
| Programme Name | Fund for Alumni Startups in Transition (FAST) |
| Administered By | Mastercard Foundation |
| Funding Amount | Up to $15,000 |
| Target Beneficiaries | Alumni of Mastercard Foundation partner programmes (e.g., African Leadership Academy, YALI, Anzisha Prize) |
| Additional Support | Mentorship, business development support, and strategic advisory |
| Focus Areas | Economic and social impact ventures |
| Key Advantages | Funding for critical transition stages and a strong mentorship network |
| Ideal Transition Points | Ideation to market launch and pilot phase to commercial growth |
| Selection Criteria | Business readiness, leadership capacity and social impact |
| Ideal For | Eligible alumni seeking to scale solutions to community challenges |
Business Grants Comparison Table
| Grant Name | Funding Amount | Target Audience | Type of Support |
|---|---|---|---|
| Presidential Conditional Grant Scheme | ₦50,000 | Nano businesses, women, youth, informal traders | Government grant |
| SMEDAN Conditional Grant Scheme | ₦50,000 + training | Micro enterprises, informal sector | Grant with training and registration |
| AGSMEIS (NIRSAL MFB) | Up to ₦3,000,000 | SMEs in agriculture, services, manufacturing | Low-interest loan with training |
| Tony Elumelu Foundation Programme | $5,000 | Early-stage African entrepreneurs | Seed capital, training, mentorship |
| Nigeria Youth Futures Fund | $1,000 – $50,000 | Youth-led organisations and social enterprises | Grant and programme support |
| Flourish Africa Grant | Up to ₦2,000,000 per participant | Women-led businesses across Africa | Grant with training and mentorship |
| Africa’s Business Heroes Competition | Up to $300,000 | Pan-African entrepreneurs | Grant, exposure, mentorship |
| Google for Startups Accelerator Africa | Cloud credits up to $350,000 | Tech startups, Seed to Series A | Accelerator support, training, mentorship |
| LSETF MSME Bootcamp | Training + access to funding | Lagos-based MSMEs | Capacity building, funding access |
| Mastercard Foundation FAST Programme | Up to $15,000 | Alumni of partner entrepreneurship programmes | Grant, technical and growth support |
What Are Business Grants?
Business grants are non-repayable funds awarded to individuals or businesses to support their operations, development, or expansion.
These grants differ from loans because they do not require repayment and are typically awarded based on merit, need, or alignment with specific programme goals.
Business owners can access these grants from various sources, including government institutions, international NGOs, private foundations, and corporate organisations focused on social impact.
Why Business Grants Are Important in Nigeria
Access to Nigerian business funding remains a significant challenge for many entrepreneurs.
High interest rates, limited collateral, and complex loan requirements often put bank financing out of reach, especially for startups and small businesses.
That is where SME funding in Nigeria through grants becomes a practical and valuable solution.
Grants provide much more than money. Many programmes offer training, mentorship, and networking opportunities. They open doors for entrepreneurs who are solving problems but lack the capital to scale.
Whether it is youth entrepreneurship grants in Nigeria or support for women-led ventures, these programmes serve as important tools to bridge the funding gap in an otherwise tough business environment.
Who Can Benefit From Business Grants in Nigeria?
Grants for startups in Nigeria typically target entrepreneurs at different stages of their journey. Some focus on idea-stage businesses needing startup capital in Nigeria, while others support registered SMEs looking to grow.
There are also business support programmes in Nigeria designed for specific sectors like agriculture, education, or technology, and others that focus on underserved demographics such as women and young entrepreneurs.
From NGO grants in Nigeria to government-backed schemes, the landscape is growing more diverse. If you are looking for free business funding in Nigeria to test a new product, train staff, or expand operations, there is likely a grant that fits your business model.
Tips for Writing Winning Grant Applications
Applying for business grants in Nigeria is not just about filling out a form and hoping for the best. The most successful applicants treat the process like pitching to an investor, with clarity, strategy, and a compelling story.
Whether you are going after government grants or seeking free business funding in Nigeria from private foundations, the quality of your application can make or break your chances.
| Tip | Description | Best Practice |
|---|---|---|
| Know the Grant Inside Out | Each grant has unique goals. It could be job creation, innovation, youth empowerment, or community impact. | Research the funder’s objectives and tailor your application to align with them. Avoid generic, copy-paste answers and clearly show why your business matters now. |
| Write Like a Human, Think Like a Judge | Overly complex jargon or vague statements make your application forgettable. | Clearly explain what your business does, who it serves, and how the grant will address a specific challenge. Use figures and realistic plans to show ambition and feasibility. |
| Keep Your Documents Tight and Ready | Missing or rushed documentation can delay or ruin your application. | Prepare CAC registration, TIN, financial statements, and a solid business plan in advance. Use professional tools like our Paid Business Plan Template for speed and quality. |
| Highlight the Impact, Not Just the Income | Funders look for measurable value beyond profits, jobs created, problems solved, or social good delivered. | Emphasise community benefits and broader impact, such as training youth, supporting farmers, or solving customer pain points. |
| Keep it Honest, Keep it Simple | Pretending everything is perfect can come across as insincere. | Be transparent about challenges and share your plan to overcome them. Stay clear, confident, and concise so your story resonates with the panel. |
Common Mistakes to Avoid When Applying for Business Grants
Applying for business grants in Nigeria can open doors to growth, stability, and credibility. But many entrepreneurs unknowingly sabotage their chances by making errors that are easy to avoid.
| Common Mistake | Description | Best Practice |
|---|---|---|
| Incomplete or Disorganised Documentation | Missing CAC registration, unclear financials, or poorly formatted pitch decks make it harder for funders to take you seriously. | Ensure all documents such as CAC registration, tax ID, business plan, and bank details are accurate, complete, and well-organised. |
| Vague or Generic Responses | Overly broad statements like “we want to change the world” without specific plans or examples weaken your application. | Clearly outline your goals, target market, and intended use of funds. Tailor each application to the funder’s mission and avoid copy-pasting from other proposals. |
| Missing the Eligibility Mark | Applying for grants you do not qualify for wastes time and may damage your credibility for future opportunities. | Read and double-check eligibility criteria, and ensure your business matches requirements such as age, sector, or ownership type before applying. |
| Last-Minute Applications | Rushing leads to errors, skipped steps, or wrong file uploads. | Treat the application like a project. Start early, plan responses, and have someone review before submission. |
| Ignoring the Business Impact Angle | Applications focused solely on internal needs without showing wider benefits appear weak. | Demonstrate how the grant will grow your business, create jobs, reach more customers, or improve efficiency. Highlight measurable impact. |
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Conclusion
Getting access to business grants in Nigeria is no longer just about luck. It is about having the right information, being prepared, and applying with intention.
These grants are not only about the money. They offer mentorship, exposure, training, and in many cases, a push in the right direction. With the right tools and mindset, your application can stand out in a crowded field and position your business for long-term growth.
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Frequently Asked Questions (FAQs)
What are business grants in Nigeria?
Business grants in Nigeria are non-repayable funds provided by government agencies, non-governmental organisations, or private institutions to support entrepreneurs and small businesses.
These grants aim to stimulate economic growth, encourage innovation, and reduce unemployment by providing financial assistance without the obligation of repayment.
Who is eligible to apply for business grants in Nigeria?
Eligibility criteria vary depending on the specific grant programme. Generally, applicants must:
- Be Nigerian citizens or residents.
- Own or operate a registered business in Nigeria.
- Operate within specific sectors such as agriculture, technology, manufacturing, or services.
- Meet age requirements, especially for youth or women-focused grants.
- Demonstrate the potential for business growth and job creation.
It’s essential to review the specific requirements of each grant before applying.
How can I apply for business grants in Nigeria?
To apply for business grants in Nigeria:
- Research Available Grants: Identify grants that align with your business sector and goals.
- Prepare Necessary Documents: Commonly required documents include:
- Business registration certificate (CAC).
- Tax Identification Number (TIN).
- Detailed business plan.
- Financial statements or projections.
- Complete the Application: Follow the application guidelines provided by the grant issuer, ensuring all information is accurate and complete.
- Submit Before Deadline: Ensure your application is submitted before the specified deadline.
Are there specific grants for startups in Nigeria?
Yes, several grants are tailored specifically for startups in Nigeria. These include:
- Tony Elumelu Foundation Entrepreneurship Programme: Offers seed capital, training, and mentorship to early-stage entrepreneurs.
- SMEDAN Conditional Grant Scheme: Provides financial support and capacity building for micro and small enterprises.
- Nigeria Youth Investment Fund (NYIF): Targets young entrepreneurs with innovative business ideas.
These programmes aim to support startups in overcoming initial financial challenges and scaling their operations.
Can individuals apply for business grants without a registered business?
While some grants may be available to individuals with viable business ideas, most business grants in Nigeria require applicants to have a registered business entity.
Registering your business enhances credibility and increases eligibility for various funding opportunities. If you need assistance with business registration, our Business Registration Services can guide you through the process efficiently. Reach us on WhatsApp- 08188122223.
What sectors are commonly targeted by business grants in Nigeria?
Business grants in Nigeria often focus on sectors that are pivotal to economic development, including:
- Agriculture and agribusiness.
- Information and Communication Technology (ICT).
- Manufacturing and processing.
- Renewable energy.
- Creative industries (fashion, film, music).
- Health and education services.
Identifying grants that align with your business sector increases the likelihood of securing funding.
How do I know if a grant opportunity is legitimate?
To verify the legitimacy of a grant opportunity:
- Official Sources: Apply through official websites or recognised platforms.
- No Upfront Fees: Be cautious of programmes that require payment to access application forms.
- Research: Look for reviews or testimonials from previous beneficiaries.
- Contact Details: Legitimate programmes provide verifiable contact information for inquiries.
Staying informed through reputable sources ensures you avoid fraudulent schemes.
What are the common reasons for grant application rejection?
Common reasons include:
- Incomplete or inaccurate application forms.
- Lack of a clear and feasible business plan.
- Failure to meet eligibility criteria.
- Submitting applications after the deadline.
- Inadequate documentation or financial records.
To enhance your chances, ensure all application components are thoroughly prepared and submitted on time.
How can I improve my chances of securing a business grant in Nigeria?
To increase your likelihood of success:
- Tailor Your Application: Align your business goals with the objectives of the grant programme.
- Demonstrate Impact: Highlight how the grant will contribute to job creation, innovation, or community development.
- Professional Presentation: Use clear and concise language, and ensure all documents are well-organised.
- Seek Guidance: Consider consulting with business development experts or utilising resources like our Entrepreneurs Success Blueprint Programme to strengthen your application.
By approaching the application process strategically, you position your business as a compelling candidate for funding.
