Top 10 Grants In Nigeria – Requirements and How to Apply

Top 10 Grants In Nigeria – Requirements and How to Apply

Research has shown that many business ideas die due to a lack of capital/funds to start up the business. If you have a business idea but don’t have the capital to start up, then this article is for you, I will be walking you through various Grants in Nigeria you can apply to enable you start-up that your business.

Before going further, if you are applied for MSME Survival Fund, Check out the latest update pertaining to the scheme Click Here

In Nigeria, there are many grants opportunity for business owners, both recent and also interesting ones which I will be listing for you in this article but before we go into that, let us understand what grant is all about.

What is A Grant

A Grant is simply a subsidy that is given to either organization or to individuals, which usually comes in the form of money or in the form of support, which cannot be returned. that is to say, a grant cannot be repaid, it is not like a loan that you will have to repay after some months which may attract you to lose your property or whatever you used for collateral.

When we talk about Grants, it is actually a great initiative put up by the government or private organizations, or investors to bring the business dreams of young entrepreneurs to reality.

If you’re interested in applying for a grant but don’t know how to go about it or you don’t know which one is more suitable for you then you don’t have to worry because this article will bring to your notice the top 10 grants in Nigeria, the requirements of each and how to apply.

List of Top 10 Grants in Nigeria

Below is the list of top 10 grants in Nigeria

1. Shell LiveWire

The first on our list is the Shell LiveWire, which is a funding program for youth to start up a business. It is opened to youths from the Niger Delta region in Nigeria who is interested in starting a business and is not less than 18 years and above 30 years. It commenced operation on March 27, 2003, and has successfully trained over 6500 youths while over 3300 participants were given grants to start a business.

Requirements

• Age range: 18 to 30 years.
• Must have a profitable and great business idea.
• Must have undergone rigorous entrepreneurial training.
• Must be from Imo, Edo, Niger Delta, Abia, Bayelsa, Rivers, Akwa Ibom and Delta.

How to Apply

• Visit their website: https://www.shell.com.ng/ for more information and updates.

2. Africa’s Young Entrepreneur Empowerment Nigeria (AYEEN)

This is an empowerment initiative launched to help young aspiring entrepreneurs to achieve their business dreams. It provides funding for great business ideas in Nigeria.

It also has a mentorship program for young entrepreneurs where they are taught business skills essential to starting and expanding a business. This empowerment program takes place yearly as it attracts huge applications from young entrepreneurs across the country.

Grants on this platform can range from thousands of naira to millions of naira depending on the business ideas presented.

Requirements

• Must be 18 years and above.
• Must have a great business idea or run a business.
• Must live in Nigeria.

How to Apply

• Go to the AYEEN login portal at https://ayeonline.org/join/
• Make sure you fill an online application form
• Try and Follow AYEEN 2020 program on social media to receive updates
• Apply for the J19 form or submit a business plan
• Complete J19 form
• Submit filled form
• Wait for the date and venue for the screening
• You will receive instructions through the mail for screening processes
• Attend screening
• Wait for the result

3.GroFin Fund

This is an empowerment initiative that is committed to providing business support and grants for small and medium-sized businesses in various key sectors of the country.

It has provided financial assistance to over 700 SMEs since its commencement in 2004 and has sustained over 89,000 jobs.

Requirements

• Your business must be in any of this category: education, agribusiness, healthcare, manufacturing, recycling, sanitation, water, energy, and waste.
• Your business must be located in any of the countries they are situated in.
• Your business must make a social impact.
• Grants applied for must be $100,000 to $1,500,000.

How to Apply

• Visit their website: http://www.grofin.com/ to apply.

4. Tony Elumelu Foundation Entrepreneurship Programme

This empowerment program is sponsored by the CEO of Heirs Holding (Tony Elumelu) to empower young African entrepreneurs. It was launched in 2015 and since then it has been a yearly commitment.

Over 7500 entrepreneurs have benefited from the $25 million worth of grants since its launch. You can become a successful business entrepreneur once accepted into the foundation as you get mentorship that will help you greatly business-wise.

Requirements

• You must be legally accepted to work in the country you are applying from which must be African.
• You must reside Legally in any of the 54 African countries and have your business stationed in any of them.
• Your business must not be older than 3 years. -You must have a profitable business idea.

How to Apply

• Visit the website: https://tefconnect.com/
• Create an account.
• Complete the necessary form and submit

5.Lagos State Entrepreneurs Trust Fund

Lagos state entrepreneurs trust fund was established to provide financial support for Lagosians in need of money to start or expand their business. It is a thoughtful initiative by the government to tackle unemployment as well as create wealth and jobs for the Lagos state populace. Those who are looking to develop their small scale businesses or medium scale businesses can apply because the fund is committed to providing the necessary financial aid to help Lagosians with their small or medium scale businesses.

It also provides an avenue for participants to acquire the right skills in order to get good jobs. Its main focus is to inspire innovative and creative minds in order to create a competent workforce across the state. It targets the unemployed and underemployed in the state.

Requirements

• Age range: 18 to 35 years.
• Business must be in any of these sectors: Health care, entertainment, hospitality and tourism, manufacturing and garment making, and construction.

How to Apply

• Visit: https://lsetf.ng/ to apply.

6. YouWin Connect Nigeria

This program provides funding for young Nigerian entrepreneurs who lack funds to start up a business. YouWin! Connect also provide a forum for young entrepreneurs to connect with industry experts in other to nurture their ideas thereby enhancing job creation as well as ensuring business growth. Participants get grants for their business when they win the competition organized by YouWin.

Requirements

• Age range: 18 to 40 years.
• Must be a Nigerian.
• Business must be located in Nigeria.
• You must be a graduate of a higher institution.
• You must not be a civil servant.

How to Apply

• Visit their website: https://apply.youwin.org.ng/ to register

7. Bank of Industry (BOI)

BOI is an initiative by the federal government to financially support and help small and large business enterprises grow. Grants are provided to interested business owners in form of loans to help them in the growth of their business. The scheme provides various kinds of grants for all kinds of entrepreneurs.

Requirements

• Your business must be in Nigeria and must be registered.
• A profitable business idea should be submitted.
• You must be the right age to apply.

How to Apply

• Go to the nearest BOI offices nearest to you and apply.

8. Innovation Price for Africa

This platform is aimed at utilizing the innovative minds of the African people to solve the problems associated with African countries. Grants are provided to participants who are keen to solve problems.

Requirements

• Must reside or belong to any of the African countries.
• Must have an innovative and analytic mind.

How to Apply

• Visit their website: http://africaninnovation.org/

9. African Women Innovation and Entrepreneurship

This program provides support and grants to innovative female entrepreneurs across African countries. Its main focus is to increase the growth of organizations led by women for economic growth. It also recognizes women who are doing exceedingly well in the non-profit and private organizations in order to contribute their quota economically are doing exceedingly well in the non-profit and private organizations in order to contribute their quota economically to the growth of Africa.

Requirements

• Must have a registered business in one or more African countries.
• Must have achievements as a successful female entrepreneur to be nominated.
• Must be a female entrepreneur.

How to Apply

• Visit this website: https://awief.awardsplatform.com/ to apply.

10. National Youth Entrepreneurship Empowerment Summit

This is an empowerment initiative by the federal government to equip young Nigerian entrepreneurs with the necessary skills and training needed to contribute to the development of the nation’s economy.

Requirements

• Age range: 18 to 35 years.
• Must live and have a business in Nigeria.
• Must have a business idea that contributes to any of the 9 FG top areas in the country.
• Must have a business in ICT, Dance, Art, Theater, Fashion and Design, New Media, Hands and Craft, Film and Entertainment, Architecture and Culture.

How to Apply

• Make and upload a one-minute video showcasing your innovative idea on social media.
• Hashtags: #NYEES #NYEESCREATIVES.
• Tag and follow @NYEEsummit.

The aforementioned grants are the top 10 grants in Nigeria as of today, which means there are many more grants that we didn’t mention. So apply today and start-up that your business.

Remember to share this article with your friends and loved ones.