Now, you don’t have to worry about funding anymore. Use this list of available business grants in Nigeria to expand your business.
Here’s the link to the second part of the post: 22 Verified FG & International Grants for Small business in Nigeria
Without any of it; your dreams. Your entrepreneurial aspirations will not happen.
Harsh reality. But, true.
So, what do you do to raise capital?
Dip your hands into your savings? Take out a loan? Chase after investors?
you can apply and get grants for your business.
Good news is, in this post, we’ve rounded up 55 funding options for entrepreneurs. From Federal government agricultural grants, privately-funded grants for small businesses to international entrepreneur grants.
No matter your industry, there’s a funding option for your business. All you have to do is pick one, make sure you meet the criteria, apply, and hopefully, you’ll get the funding to start/expand your business.
How to use this list
To make wading through the list easier, we’ve grouped them into categories. Use the table of content to go to the section of the article that interests you.
For each grant, we explained what it is. How much you can potentially win. Then list out the criteria to become eligible. Finally, we shared how you can apply.
List of Available Business Grants in Nigeria for Entrepreneurs [Part 1]
So, if you are ready, here are 55 available grants in Nigeria to kickstart your dream business.
Tony Elumelu Foundation Entrepreneurship Programme
Launched in 2015 by Billionaire Entrepreneur and CEO Heirs Holdings, Tony Elumelu, the grant is a 10 years $100 million US dollar commitment towards empowering African entrepreneurs.
Since its launch, the foundation has disbursed $25 million worth of grants to 7520 entrepreneurs from Africa making it the largest philanthropic institution on the continent.
Once, you’re accepted as a TEF entrepreneur you can take advantage of the premium network of mentors, resources, and support you need to take your business from an idea to reality; to scale up and grow quickly.
So, it’s not just winning the grant; you also get invaluable professionals and experts you can turn to for help when needed.
Non-refundable seed funding of $5000
- You must have the legal rights to work in the African country you’re applying from.
- The Business must reside in African and you must be a legal resident of any of 54 African countries.
- Your business must be an early stage of 0 – 3 years or a business idea.
- Your business idea must be for profit, focused on one business line, and be the original work of those applying.
- You must create an account on tefconnect, complete an online entry form to apply for the program.
How to apply:
Visit tefconnect, the largest platform for African entrepreneurs. Complete the form and submit your application.
Africa’s Young Entrepreneur Empowerment Nigeria (AYEEN)
One of the foremost entrepreneurial empowerment and funding platforms launched to mentor, guide, provide funding for smart business ideas in Nigeria.
The AYEEN program attracts over 25,000 applications from young Nigerian entrepreneurs cut across the 36 states annually.
However, its unique model means you can get funding for your business idea or accepted into the mentorship program where you network, learn, and master key business skills essential to starting, running and expanding your business.
Varying amount of funding as deemed fit by the panelists. Can range from a couple of hundred thousands of naira to tens of millions of naira.
- Must be running a business or has a viable business idea
- Open to all Nigerian entrepreneurs aged 18 and above.
- Must reside in Nigeria
How to apply
- Visit AYEEN website
- See the big bright button at the top right-hand side with “AYEEN 2019 Register Now”
- Click on it.
- On the new page, complete the form.
GroFin Grants for Small and Medium Business
A private development finance institution focused on providing medium-term finance loans and business support for small and medium-sized businesses in the manufacturing, agribusiness, education, healthcare, and key service sectors (energy, water, sanitation)
Since its launch in 2004, GroFin has supported over 700 SMEs, sustaining 89, 740 jobs and is present in 14 countries in the sub-saharan and MENA regions.
Up to $1.5 million US dollar. A minimum of $100k
- Your business must be in any of the following sectors: healthcare, manufacturing, agribusiness, education, or in these key service sectors – energy, water, waste, recycling, sanitation.
- Your business must be in any of the countries where their offices are located – Nigeria, Kenya, South Africa, Zambia, Ghana, Ivory Coast, Senegal, Uganda, Tanzania, Rwanda, Egypt, Iraq, Jordan or Oman.
- You need a medium-term loan of 100k to 1.5M US dollars.
- Your business is making a social impact – creating jobs, benefiting the environment, empowering women.
How to apply
To apply online visit: Apply
Shell LiveWire Funding
Shell LiveWire is a youth social development enterprise program focused on encouraging, training, and providing funding for youths to start a business.
The program is open to youths aged 18-30 from the Niger Delta region of Nigeria who desired to own a business.
Since its launch in March 27, 2003 the initiative has trained 6580 youths while 3373 participants were award grants to launch a business.
- Must be aged 18-30
- Has a viable business idea
- Undergone and graduated from their intensive entrepreneurship course
- Must be from Niger-Delta – Abia, Imo, Edo, Rivers, Bayelsa, Delta, and Akwa-Ibom.
How to apply
Announcements would be made on national newspapers when open. Or visit here from time to time.
IB Plc Hero’s Foundation KickStart Program
IB Plc Hero’s Foundation KickStart program is a social investment initiative of International Breweries focused on instilling and encouraging entrepreneurial youths to pursue their dreams of launching a business.
The program has a three-way approach of training and boosting youth business capacity. Mentoring and guidance to leverage expertise of experienced professionals and provision of grants.
- You must be a youth aged 18 – 35 years old
- Must be a Nigerian residing in the following states: Abia, Enugu, Imo, Anambra, Ebonyi, Edo, Delta, Rivers, Bayelsa, and Benue.
How to apply
Visit: KickStart and download the PDF application form.
GEM grant is a funding partnership between the Federal ministry of Industry, Trade, and Investment and the World Bank with a focus to support businesses in the manufacturing, entertainment, information and technology, tourism and hospitality, and agro-allied businesses.
Minimum of $50,000 – $250, 000
- The lead institution is an academic institution, research institution, industrial center, business membership organization or non-governmental organization, in partnership with at least 3 of any of the following: a for-profit private sector company(s), partnership(s) or sole trader(s);
- The lead institution must be operating in Nigeria;
- The total GEM funding requested must be at least $50,000 and no more than $250,000;
- The lead institution and its partners must together provide matching cash or cash equivalent funds of at least 50 percent of the total project budget;
- GEM funding must be requested for utilization on eligible costs or activities
- The institution must satisfy the requirements on Environmental and Social compliance
- Other eligibility criteria will be added depending on the call for proposals
- The GEM funding requested must be utilized within 15 months; and
- The proposed idea must result in increased sales for the business, increased value
- added per worker and creation of new jobs
How to apply
Currently not accepting applications. Check
African Entrepreneurship Award
African Entrepreneurship Award is powered by BMCE bank of African with a focus to provide a platform for mentorship, network of ready-to-investor Angel investors, and grants to smart business ideas.
You can send in your application for one of the two categories – Innovation & Sports Entrepreneurship and Sports.
A cash prize of $1million to be shared among finalists.
- You must be a citizen of an African country and at least 18 years.
- Your business idea must be applicable to the African setting and must include a technological component.
- Your business idea must be for a profit with a social impact.
How to apply
Currently not accepting applications yet.
Innovation Prize for Africa
Innovation Prize for Africa is a platform with a mission to galvanize the innovative spirit of the African people to proffer solutions to their everyday challenges.
The Award is aimed at encouraging an innovation-driven solutions to the myriad of challenges in African by Africans.
So, if you have a idea or solution you think can solve Africa’s problems – give this prize a shot.
First prize – $1000,000
Second prize – $25,000
Third prize – $25,000
Recognition prize – $5000
- You’re a citizen of one of Africa’s 54 countries.
- African diasporans are also eligible as long as they show they hold of the African country’s passport.
- The innovation is fully developed and not just an idea.
- All mandatory fields are completed.
How to apply
African Women Development Fund
A pan-African female-only grant making organization that strives to support women rights and women-led organizations on the continent.
The fund provides grants to organizations tackling the issues of body and health rights, women’s economic security and justice, and Leadership, participation, and peace.
Unspecified. however, since inception the fund has given out $41.8 million US dollars.
- Must be led by a woman and have majority of its staff and board being women
- Must be duly registered in an African country
- Must have been in existence for at least 3 years
- Must have the needed organisational structures for effective implementation of the project
- Must have an appreciable financial management system to properly account for funds received
- Must be capable of reporting back on the outcomes of the project
- Must complete the necessary application forms
How to apply
Visit here and follow the application guideline.
Unilever Young Entrepreneurs Award
Are you a social impact entrepreneur tackling one of the planet’s sustainability challenges?
Do you need support an funding to scale? Unilever Young Entrepreneurs Award might be just the right opportunity you need to take your business to the next level.
The program seeks to recognize and support young innovators providing solutions to some of the world’s challenges. Since it’s inception, the initiative has reached over 3700 young entrepreneurs with 37 winners receiving funding and support.
Winner – 50,000 Euros
A residential Accelerator Programme run by the University of Cambridge Institute for Sustainability Leadership, followed by a year of mentoring support completely tailored to their needs.
We’re looking for initiatives relating to one or more of the three categories we’re focusing on:
- Improve people’s health and well-being
- Improve the health of the planet
- Contribute to a fairer and more socially inclusive world
Whether it’s with an initiative, product or service, if you’ve gone beyond the idea stage and started to make an impact, we want to hear from you.
- Anyone around the world excluding Russia aged between 18 and 35.
How to apply
To submit your application, you’ll need to complete your profile and describe your project.
African Women Innovation and Entrepreneurship (AWIE)
AWIE is the number one female entrepreneurship platform that promotes, supports and provides grants to brave, innovate female entrepreneurs across the African continent. The program seeks to accelerate the growth of female-led organizations for an African inclusive economic growth.
Every year the program recognises women in private and non-profit organizations doing exploits across industries, for their economic contribution to the African growth, and social impact.
- Nominations should only be made relating to achievements made by a female entrepreneur and national (or permanent resident) of an African country, with a registered business and operation in one or more African countries.
- Nominees can be nominated or self-nominated.
- A woman entrepreneur can be nominated for more than one category but different nomination forms must be completed.
- You may be asked to support or verify the evidence you supply as part of the nominations you make.
- Five nominees will be shortlisted for each category and invited to the AWIEF Awards ceremony in October of the same year.
How to apply
Nominate a female entrepreneur here
Final thoughts on available business grants in Nigeria to expand your business
The list above is the first part of the series of available funding options for small and medium-sized businesses.
We hope this the grant options above helps you pursue your entrepreneurship dreams.
Do you know of any grants we didn’t mention but you’d like us to include? Are you a beneficiary of any of the grants above? We’d like to hear from you in the comments.