Business Grants in Nigeria: Full Details

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Securing funding is a significant challenge for entrepreneurs in Nigeria, but grants offer a vital opportunity to grow businesses without incurring debt. Below is a detailed overview of key business grants available for registered companies and entrepreneurs in Nigeria in 2025, including eligibility criteria, benefits, application processes, and tips for success. These grants are sourced from reputable programs and are designed to support innovation, job creation, and economic growth.

1. Tony Elumelu Entrepreneurship Programme (TEEP)

Overview: The Tony Elumelu Foundation’s flagship initiative is one of Africa’s most impactful grant programs, empowering entrepreneurs across the continent with seed funding, training, and mentorship.

Eligibility:

• African entrepreneurs with registered businesses in Nigeria or other African countries.
• Start-ups less than three years old.
• Open to all industries, with a focus on scalable and innovative ideas.

Benefits:

• $5,000 (approximately ₦8,300,000 at ₦1,660/$1) in non-repayable seed funding.
• 12-week online business training program.
• Access to a global network of mentors and business leaders.
• Networking opportunities with other entrepreneurs.

Application Process:

• Submit an online application via the Tony Elumelu Foundation website (www.tonyelumelufoundation.org).
• Provide a detailed business plan, CAC certificate, and financial projections.
• Applications typically open annually in January, with deadlines in March.

Tips:

• Highlight the scalability and social impact of your business in the application.
• Ensure your business plan is clear, concise, and demonstrates innovation.
• Leverage TEEP’s alumni network for guidance during the application process.

2. Mastercard Foundation Africa Agribusiness Challenge Fund

Overview: This fund supports agribusinesses in Sub-Saharan Africa, including Nigeria, to scale operations and promote sustainable practices.

Eligibility:

• Registered agribusinesses in Nigeria with a focus on agriculture or related value chains.
• Businesses with a proven track record and potential for growth.
• Commitment to sustainable and inclusive practices.

Benefits:

• Grants ranging from $500,000 to $2,500,000 (approximately ₦830,000,000–₦4,150,000,000).
• Technical assistance and capacity building.
• Networking opportunities with industry leaders.

Application Process:

• Check for open calls on the Mastercard Foundation website (www.mastercardfdn.org).
• Submit a detailed proposal, including business plan, financial statements, and impact metrics.
• Deadlines vary, typically announced quarterly.

Tips:

• Emphasize how your agribusiness addresses food security or job creation.
• Provide evidence of past performance and scalability.
• Align your proposal with sustainable development goals.

3. MTN Yellopreneur Programme

Overview: MTN’s initiative supports female entrepreneurs in Nigeria by providing funding, training, and networking to foster sustainable business growth.

Eligibility:

• Female entrepreneurs running registered businesses in Nigeria.
• Businesses with a focus on innovation and growth potential.
• Applicants must demonstrate a clear business vision.

Benefits:

• Grant funding (specific amounts vary, typically up to ₦5,000,000).
• Business training tailored to female entrepreneurs.
• Access to MTN’s extensive business network for partnerships.

Application Process:

• Monitor the MTN Yellopreneur page (www.mtn.ng/yellopreneur) for application windows.
• Submit an online application with a business plan and CAC certificate.
• Applications are typically open annually or semi-annually.

Tips:

• Highlight your business’s unique value proposition and growth strategy.
• Showcase how your business empowers women or communities.
• Prepare a compelling pitch for the selection panel.

4. Google for Startups Black Founders Fund

Overview: Google’s initiative supports Black-founded start-ups in Africa, including Nigeria, with equity-free funding and resources to scale innovative solutions.

Eligibility:

• Black-founded businesses registered in Nigeria or other African countries.
• Start-ups with innovative solutions in any industry.
• Demonstrated potential for high growth and impact.

Benefits:

• Equity-free funding (amounts vary, typically up to $150,000 or ₦249,000,000).
• Access to Google’s mentorship network and resources.
• Use of Google products and services to scale operations.

Application Process:

• Apply via the Google for Startups Founders Fund page (www.startups.google.com).
• Submit a pitch deck, business plan, and evidence of registration.
• Deadlines are announced periodically, often bi-annually.

Tips:

• Focus on the innovative aspects of your business in your pitch.
• Highlight traction, such as customer growth or revenue.
• Utilize Google’s free tools (e.g., Google Analytics) to strengthen your application.

5. Bank of Industry (BOI) YES Programme

Overview: The Youth Entrepreneurship Support (YES) Programme by the Bank of Industry empowers Nigerian youth with grants, loans, and training to start or expand businesses.

Eligibility:

• Nigerian citizens aged 18–35.
• Registered businesses with a viable business plan.
• Focused on industries like technology, agriculture, and manufacturing.

Benefits:

• Grants for outstanding projects (amounts vary, typically up to ₦2,000,000).
• Low-interest loans for business expansion.
• Business training and mentorship.

Application Process:

• Apply through the Bank of Industry website (www.boi.ng/yes).
• Submit a business plan, CAC certificate, and financial projections.
• Applications are open periodically, often announced quarterly.

Tips:

• Emphasize job creation and economic impact in your proposal.
• Ensure your business plan includes detailed financial projections.
• Attend BOI workshops to improve your application quality.

6. Presidential Conditional Grant Scheme (PCGS)

Overview: A Nigerian government initiative to support nano-businesses, providing small grants to very small enterprises across the 774 local government areas.

Eligibility:

• Nano-businesses with asset value under ₦1 million.
• Fewer than four employees and annual turnover under ₦1 million.
• Priority for women and youth (85% of beneficiaries).

Benefits:

• One-time grant of ₦50,000 per beneficiary.
• Support for operational costs and business survival.

Application Process:

• Applications are managed through the Bank of Industry (www.boi.ng).
• Submit basic business details, proof of identity, and evidence of operation.
• Applications are currently closed as of June 2025, but check the BOI website for reopening updates.

Tips:

• Keep records of your business activities to prove eligibility.
• Apply early when new application windows open to avoid missing deadlines.
• Contact BOI for clarification on application requirements.

General Application Tips

• Business Registration: All grants require a registered business with the Corporate Affairs Commission (CAC). Ensure your CAC certificate is up-to-date.
• Strong Business Plan: Include a clear business plan with market analysis, financial projections, and impact metrics.
• Show Impact: Demonstrate how the grant will create jobs, drive innovation, or solve community problems.
• Prepare Documents: Have your CAC certificate, bank statements, and business plan ready before applying.
• Track Deadlines: Monitor official websites for application windows and deadlines to avoid missing opportunities.
• Seek Guidance: Engage consultants or platforms like Idara (www.goidara.com) for support with registration and applications.

Additional Notes

• Competitive Nature: Grants are highly competitive, with only about 10% of applicants receiving funding. Tailor your application to stand out.
• Diverse Opportunities: Beyond the listed grants, explore other programs like the Bet9ja Foundation Grant for community-focused businesses or the NG-CARES Grant for MSMEs, though specific details and application windows vary.
• Sustainability Focus: Many grants prioritize businesses with eco-friendly or socially impactful models, so highlight these aspects in your proposal.
• Funding Alternatives: If grants are not feasible, consider low-interest loans from programs like BOI or explore crowdfunding platforms.

Conclusion

Nigeria offers a wealth of grant opportunities for entrepreneurs in 2025, from the Tony Elumelu Entrepreneurship Programme’s $5,000 seed funding to the Mastercard Foundation’s multimillion-dollar agribusiness grants. By leveraging these programs, registered businesses in sectors like agriculture, technology, and manufacturing can access non-repayable funds, training, and networks to scale operations. Entrepreneurs should focus on crafting compelling applications, demonstrating impact, and staying proactive in tracking deadlines. With the right preparation, these grants can provide the financial boost needed to transform business ideas into sustainable enterprises, contributing to Nigeria’s economic growth.