August 27, 2025 – Circulating reports suggest that the ₦50,000 Presidential Loan and Grant Phase Two is about to begin, with another set of one million beneficiaries expected to benefit across Nigeria.
Social media posts claim that the second phase of the Presidential Conditional Grant Scheme, PCGS, will provide financial support to Nano businesses under the Presidential Palliative Program.
According to the unofficial information, the PCGS is different from the Conditional Grant Scheme, CGS, which runs under the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN. Both initiatives provide the same ₦50,000 grant with similar eligibility requirements.
The first phase of the program took place on March 9, 2024. It was implemented by the Federal Ministry of Industry, Trade and Investment, with the Bank of Industry (BOI) serving as the Executing Agency.
Reports indicate that the scheme will again be designed to offer financial grants without repayment obligations to eligible small business owners in different sectors such as trading, food services, ICT, transportation, creatives, and artisans.
The PCGS is structured to support 70% women and youth, 10% people with disabilities, and 5% senior citizens, while the remaining 15% goes to other groups.
If confirmed, the new phase will see each beneficiary receive ₦50,000 paid directly into their bank account. The program is expected to reach one million small businesses across the 774 local government areas and the six council areas in the Federal Capital Territory.
Beneficiaries will be selected after verification processes that require their National Identification Number, NIN, and Bank Verification Number, BVN. Applicants must also meet set conditions, including owning a small business with growth potential, willingness to expand, and readiness to employ at least one additional staff when necessary. They will also provide proof of residence or business address, alongside their personal and banking details.
Circulating reports say, “This rumored phase two of the Presidential Conditional Grant Scheme is expected to make a real impact on small businesses and their communities.”
Many are closely following developments as expectations rise among entrepreneurs and traders in different parts of the country.
When phase two launches, interested applicants will be able to apply online through the official https://grant.fedgrantandloan.gov.ng, just as was done during the first phase.
In the meantime, small business owners are urged to remain calm and only trust official announcement from the FG, either BOI or SMEDAN.