September 5, 2025 – There are growing talks about the possible launch of the second phase of the FGN 50K Nano Presidential Grant, a scheme designed to support small-scale businesses at the grassroots level. The initiative was originally created to provide workforce support and help nano businesses acquire needed equipment for growth.
Reports suggest that each business may once again receive ₦50,000, with the condition that one additional person must be employed. This requirement is said to be part of government’s plan to encourage job creation within local communities.
“The first is the N50 billion that is for Nano, this is grant, and is supposed to go to all Nigerians across the 774 local governments, with each person collecting 50,000 and a maximum of 1,000 per local government,” an earlier statement explained during the first rollout.
The first phase took place back in March 9, 2024, under the supervision of the Federal Ministry of Industry, Trade and Investment, with the Bank of Industry (BOI) acting as the Executing Agency. At that time, officials confirmed that “as at today, the federal government has disbursed to over 800,000 Nigerians out of the earmarked 1 million, and we’ve disbursed over 40 billion of the 50 billion. The intention is that between now and Christmas and New Year, we would have disbursed the entire 50 billion to Nigerians.”
It was further stated that no local government had been left out. “And no local government as we speak today, there’s no local government that has not benefited from this grant. We will provide the details, including names and addresses and name for whoever is interested to make sure that truly these funds went to the right Nigerians.”
The structure of the program sets aside 70 percent of the grant for women and youth, 10 percent for people with disabilities, 5 percent for senior citizens, and 15 percent for other groups.
Beneficiaries are expected to undergo verification using their National Identification Number and Bank Verification Number, while also proving business ownership, readiness to expand, and willingness to employ extra staff. Applicants must also provide residence or business address along with banking details.
For now, officials advise small business owners to remain calm and only follow announcements from the Federal Government, BOI, or SMEDAN regarding the rumored second phase.