Top 25 Available Business Grants in Nigeria: DON’T MISS OUT! - Nigeria Boom

Top 25 Available Business Grants in Nigeria: DON’T MISS OUT!

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Undoubtedly, funding has been one of the major challenges that have hindered potential entrepreneurs in Nigeria from achieving their business dreams. There are also so many Nigerian business owners that wish to expand their businesses and do not have the finance to do so.

If funding seems to be the issue, then you should worry no more. This article is written to reveal to you some of the top 20 business grants available in Nigeria to fund your business idea or expand your business.

But first, what’s exactly is a grant

Top Available Business Grants in Nigeria



Grant

Grants refer to the sum of money granted by local or foreign organizations and the government to help individuals or groups to start up a business. Grant is very less risky, unlike a loan. This is because the sum of money rewarded as a grant is not repayable. It is therefore one of the best ways to raise funds to finance a business idea or expand an existing business in Nigeria.

The Top 20 Business Grants in Nigeria

top grants in Nigeria to fund your busines


1.     Africa’s Young Entrepreneur Empowerment Nigeria (AYEEN):

One of the top business grants in Nigeria is the Africa’s Young Entrepreneur Empowerment Nigeria (AYEEN). This grant programme is established to empower young African youth.

The program attracts more than 25, 000 applications from Nigerian youths every year. The program also provides an avenue for young African youth to learn and grasp key business skills, build networks, and lots more through their mentorship program.


Requirements

·        Must be 18 years and above to apply

·        Must reside in Nigeria.


How to Apply

·        Visit: http://ayeonline.org

2.     Tony Elumelu Foundation Entrepreneurship Programme: 

This programme was initiated in the year, 2015 as a means of empowering young African entrepreneurs. The programme is sponsored by Tony Elumelu who is the CEO of Heirs Holdings and also one of African’s wealthiest men.

Since its inception, the program has benefited 7520 entrepreneurs from Africa through a disbursed grant worth $25 million. This makes it the largest philanthropic institution in Africa.

Asides from being a beneficiary of the TEF grant, you would also be exposed to professionals who are willing to support you to achieve your business dream.


Requirements

·        Must reside legally in any of the 54 countries in Africa and your business also must be located in Africa

·        Must have the legal right to work in the country you are applying for in Africa.

·        Your business must not be older than 3 years or must have a lucrative business idea.


How to Apply

·        Visit https://tefconnect.com to apply

3.     Shell LiveWire: 

Shell LiveWire was initiated in the year, 2003 as a means to support, train and provide youths with funds to finance, build and grow a business.

Since Shell LiveWire was initiated until now, the program has been able to train 6580 youths while 3373 candidates were awarded grants to establish their desired business.


Requirements

·        Must be within the age range of 18 to 30.

·        Must be a native of Edo, Rivers, Akwa Ibom, Delta, Niger Delta, Imo, and Bayelsa

·        Must have a profitable business idea

·        Must have undergone solid entrepreneurial or business training.


How to Apply

·        Visit https://www.shell.com.ng to apply

4.     African Women Development Fund: 

The African Women Development Fund is a pan-African female-only grant that is designed as a means of empowering and supporting their women's rights.

The African Women Development Fund finance organizations concerned with promoting women’s economic security, justice, leadership, participation, and peace.


Requirements

·        Must have a registered business in any country in Africa

·        Must be a female

·        Must have a good business record as a successful female entrepreneur to be nominated.


How to Apply

·        Visit https://awief.awardsplatform.com/ to apply

5.     YouWin Connect Nigeria: 

YouWin Connect Nigeria is a program initiated to strengthen the effort made by Nigerian entrepreneurs to get established. The program provides funds to young entrepreneurs in Nigeria. Funds are usually given as grants to winners in competitions organized by YouWin.

The program also has a forum where young entrepreneurs and professionals can interact with the goal of developing young entrepreneurs’ mindsets about business, creation of job for these young entrepreneurs.


Requirements

·        Must be from Nigeria

·        Your business must be located in Nigeria

·        Must fall between the age range of 18 to 40 years

·        Must be a graduate of any higher institution


How to Apply

·        Visit https://appy.youwin.org.ng to apply

6.     GEM Grant: 

GEM Grant emerged through a partnership between the Federal Ministry of Industry, Trade, and Investment and the World Bank with a mission to foster business development in the entertainment, information and technology, manufacturing, tourism and hospitality, and agro-allied businesses.


Requirements

·        Must have an institution that operates in Nigeria

·        The requested fund must be between $50, 000 and $250, 000

·        The operating institution must satisfy all criteria on social and environmental compliance.

·        GEM funding must be put to use within 15 months

·        The lead institution should be an academic institution, or industrial center or research institution, or business membership organization or non-governmental organization, in partnership with any of the following; partnership or sole traders, for-profit private sector company.


How to Apply

·        Currently not accepting applications

7.     Africa Cocoa Fund: 

The African Cocoa Fund (ACF) is an initiative of the Rainforest Alliance Organization. The African Cocoa Fund is established to support cocoa farmers in West & Central Africa. 

Visit: https://www.rainforest-alliance.org/business/sustainable-farming/africa-cocoa-fund-application/ for more enquires

8.     Lagos State Entrepreneurs Trust Fund: 

Lagos State Entrepreneurs Trust Fund is an initiative created by the Lagos State Government to reduce unemployment in Lagos by financing small and medium scale enterprises.


Requirements

·        Must be between the age range of 18 to 35

·        Business must fall under any of the following categories; entertainment, garment making, manufacturing, healthcare, hospitality and tourism, and construction.


How to Apply

·        Visit: https://Isetf.ng to apply

9.     USADF Grant : 

USADF stands for U.S. African Development Foundation. USADF is an independent African government agency. The USADF grant program is designed to empower African countries through the provision of grants to entrepreneurs in Nigeria and other African countries.


Requirements

·        Must be above 18 years

·        Must have a business located in Africa

·        Your business must be registered

·        Must be a citizen of the country you are applying for


How to Apply

Visit https://www.usadf.gov for more information


10.  KickStart: 

KickStart is a program initiated by the IB PLC Foundation. The program is designed for the primary purpose of reducing the level of unemployment by empowering young entrepreneurs. This is made possible by exposing these young entrepreneurs to the right mentorship, training, business skills, etc.

Grants are awarded during competitions organized by KickStart to winners.


Requirements

·        Must fall between the age range of 18 to 35 years

·        Must be from the southwestern region

·        Your business must be located at the southwestern region

·        Must have a profitable business idea

·        Must be a literate

·        Must have a valid ID

·        Must be able to go into full-time business


How to Apply

·        Visit https://herokickstartnigeria.org for more information

11.  GroFin Fund: 

GroFin Fund was founded in 2004 and has financially supported over 700 SMEs since its inception. The program is designed to provide support to SMEs through the provision of grants.


Requirements

·        Your business must fall under any of these categories; water, energy, waste, manufacturing, healthcare, agribusiness, education, recycling, and sanitation.

·        Your business must have a social impact

·        Your business must be located in any of the countries where GroFind are situated in

·        The requested fund must be between $100, 000 to $1, 500, 000


How to Apply

Visit http://www.grofin.com/

12. Bank of Industry (BOI):

The grant program is initiated by the federal government. The primary purpose of this initiative is to provide financial support to various business owners or entrepreneurs. Grants are provided in form of loan to interested entrepreneurs.


Requirements

·        Must have a profitable business idea

·        Must have a registered business

·        Must be a citizen of Nigeria


How to Apply

·        Go to any BOI office in Nigeria

13.    Unilever Young Entrepreneurs Award: 

This program is designed to provide financial assistance to young entrepreneurs.


Requirements

·        Must fall under the age range of 18 to 35

·        Must have a profitable business idea

·        The business idea should be able to make social impact

·        Must be skilled in the health sector

·        The business in consideration should be able to improve people’s health or wellbeing


How to Apply

·        Visit https://youngentrepreneursawards.unilever.com/

14.  I-Startup SouthWest Programme: 

The I-Startup SouthWest  Programme is a social investment initiative created by the federal government to provide training and non-refundable grants to entrepreneurs.

The program is majorly for those concerned with the use of tech in the application of areas which includes agriculture, ICT, oil, and manufacturing.


Requirements

·        Your business must be located in the Southwest region

·        Must have a profit-driven business

·        Your business must operate within any of these areas; ICT, health, agriculture, or manufacturing.

15. Africa Netpreneur Price: 

This program is designed by the Jack Ma Foundation to provide financial assistance to entrepreneurs across Africa.


Requirements

·        Must be a citizen of any country in Africa

·        The business in consideration must be located In Africa.


How to Apply

Visit https://apply.netpreneur.africa for more information

16.  Leventis Foundation Agricultural Training Programme:

This program is designed to provide farmers with the financial assistance they need. This program also provides training support to farmers to strengthen their knowledge and skills.


Requirements

·        Must be between 18 to 40 years

·        Must be physically fit

·        Must be a literate

·        Must be skilled and knowledgeable in farming


How to Apply

Visit 1 Leventis foundation @ Osun State for more information.

17.      Bank of Industry Youth Entrepreneurship Support Program:

As the name implies, this program is designed by the Bank of Industry (BOI) to provide financial support to youth that will help them pursue their dreams as an entrepreneur. The program also organizes 8 weeks of extensive online business and entrepreneurship training for youth.


Requirements

·        Must be a Nigerian

·        Must be between the age range of 18 to 35

·        Must present a profitable business idea which will be located in Nigeria

·        Must have a minimum qualification of OND


How to Apply

Visit: http://onlineregportal.com/YesProgramme for more information.

18.  Diamond Bank Bet Programme:

This program is designed by Diamond Bank to foster wealth creation by Nigerian entrepreneurs.

During the course of the programme, 50 applicants are selected to undergo intensive training for a period of 6 months. After this intensive training is over, the top 5 applicants would be awarded a grant of 3million naira.


Requirements

·        Must be a Nigerian

·        Must have a profitable business idea to present

·        The business in consideration must be in Nigeria


How to Apply

Visit http://diamonbankbet.com to apply

19.  Global Innovation Fund:

This funding program is designed to sponsor innovative minds in Africa of which Nigeria is not left out, through the provision of grants


Requirements

·        Must be a citizen of  any country in Africa

·        You must be a citizen of any country you are applying for

·        Must have a profitable business idea


How to Apply

Simply visit; https://www.globalinnovation.fund/ for more information

20.    National Youth Entrepreneurship Empowerment Summit:

This program is initiated by the federal government of Nigeria to encourage and empower youths to establish businesses through the provision of grants. The primary aim of this initiative is to foster the growth of the Nigerian economy.


Requirements

·        Must be a citizen of Nigeria

·        Business must be located in Nigeria

·        Must be 18 to 35 years

·        The business in consideration must fall under any of these categories; dance, art, theater, film, hands, and craft, entertainment, architecture, ICT, and culture.


How to Apply

·        Make and upload a captivating video displaying your idea on social media

·        Hashtags: #NYEES #NYEESCREATIVES

·        Tag and follow @NYEEsummit

21.  Innovation Price for Africa:

Innovation Price for Africa is a funding program created to encourage innovative minds in Africa to solve various problems affecting Africa through the provision of grants.

 

Requirements

·        Must be a citizen of any country in Africa

·        Must be innovative


How to Apply

Visit: http://africaninnovation.org

22.  African Women Innovation and Entrepreneurship:

This funding program is designed to provide financial support in the form of grants to innovative female minds across various African countries.


Requirements

·        Must be a female entrepreneur

·        Must have a good business record as a successful female entrepreneur

·        Must have a registered in any country in Africa


How to Apply

·        Visit; https://awief.awardplatform.com for more information.

23. IGNITE 2020: 

This funding program is interested in the financing female agripreneurs through training and provision of grants.


Requirements

·        Must be able to fully committed to the program

·        Must show eloquence in the use of your English

·        You must be a female in agribusiness


How to Apply

·        Visit; https://guzakuza.org/ignite2020.


24.   Greenhouse Lab: 

This funding program is concerned with financing female-led tech startups solving some of African’s biggest problems.


Requirements

·        Must be able to take care of crucial matters in Africa

·        Must be able to attain the MVP(Most valuable player) in your team

·        Your team must at least contain two or more members. One of which must be a technical member

·        Your team must have an early start-up with a female as one of its founding members


How to Apply

·        Visit; https://vc4a.com/greenhouse-capital/greenhouse-lab

25. Global Youth Empowerment Fund Grant: 

This is an initiative concerned with youth empowerment through the provision of mentorship, training, and grant opportunities.


Requirements

·        Concentration should be on catering and providing for communities.

·        Should be a youth-led project capable of supporting global goals for sustainability.


How to Apply

·        Visit: https://gyefund.org

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