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After coming up with a brilliant concept for a business, the next step is to put that concept into action, which, according to the proverb that “money is the oil of a business,” requires financial backing.

Those entrepreneurs who come from wealthy families won’t have to be concerned about money, but those entrepreneurs who come from more modest families will.

Aside from the word “fund,” the word “grant” is the one that sounds most gratifying in the ear of an entrepreneur. It is a haven of protection for those who are praying to God for the expansion of their company. The only issue that Nigerian businesspeople have to deal with is the question

Is there any kind of grant or funding available for Nigerian businesspeople?

There are grants and funds (investors) available in Nigeria for businesses that are already established as well as new business ideas. Obtaining these resources may be challenging, but there is still reason to have hope; you never know when you or your company may strike it big.

The following is a list of grants and funds that are currently available in Nigeria.

1)Anzinsha price

Anzinsha is a grant that will be awarded in the amount of one hundred thousand dollars to fifteen different African entrepreneurs.

This is how it works: first, each entrepreneur will present their business idea to investors in their home country, and if they are successful, they will travel to South Africa to meet the other 15 entrepreneurs. The organizer will be responsible for paying for all of the travel costs.

They are accessible from this location.

Tony Elumelu Entrepreneur programme

The foundation claims that they have set aside $100 million to support 10,000 entrepreneurs in Africa, regardless of whether they are male or female. The fact that their investment could be visible in at least 5,000 businesses across Africa lends credibility to this claim.

The way it works is that you present your idea for a business and explain how they could make money from it, and if they believe it has potential, they will invest $5,000 in your company without giving you any equity in return. In addition, you will be assigned a mentor who will provide you with guidance for a period of time.

The following requirements must be satisfied before your application may be considered for TEEP:

It is not recommended that your company be older than three years.

You and your company need to be located in Africa.

You must be over the age of 18 to continue.

Your company’s primary focus need to be on generating profits.

They are accessible from this location.

The African Enterprise and Development Initiative Fund (AECF)

The American Entrepreneurial and Community Foundation (AECF) offers grants to business owners who are working to solve problems in the areas of agriculture, renewable energy, and financial services.

In addition, there are requirements that must be satisfied before they will make their investment, which may be anything from one hundred thousand to one and a half million dollars.

They are accessible from this location.

The Foundation for African Development

This is a grant from the United States Africa Foundation. The foundation’s mission is to offer start-up funding to entrepreneurs in the fields of agriculture and energy. In addition to this, the foundation offers entrepreneurs mentorship and training opportunities.

They are accessible from this location.

Funding for YouWin

Youwin fund is a programe that started during the regime of former president Goodluck jonathan. Its purpose of exitance is to invest in new business idea and already establish business by Nigerians between the ages of 18 and 40. The program was started during the regime of former president Goodluck jonathan.

Their standards are not overly demanding. If you are a Nigerian, there is a good probability that you will satisfy all of their requirements, which are as follows:

The applicant must be a citizen of Nigeria and have their primary residence in Nigeria.

You are obligated to have your company registered with the corporate affairs commission.

You must not be civil servant

You are required to hold a degree from a reputable Nigerian educational establishment of higher learning.

The applicant needs to have strong English language skills in order to be considered.

Candidates need to demonstrate that they are able and willing to participate in all of the training.

They are accessible from this location.

Diamond bank bet programme

This is an annual program in which 50 applicants out of those who registered are selected to participate in a training course that lasts for six months. Following the training, there will be a second screening, which will narrow the field down to the top five entrepreneurs who will be eligible for seed financing from diamond bank.

They are accessible from this location.

Funding for companies provided by the Bank of Industry

Through its YES () initiative, the Bank of Industry has made a commitment to addressing the issue of youth unemployment in Nigeria by giving young people in the country access to funding opportunities and teaching them entrepreneurial skills.

Because YES is unlike any other program, in order for them to be able to offer you a business opportunity, you will first have to go through their extensive business training.

The schedule for their training is as follows.

8 weeks of training on administration of businesses available online

Conditioning over a span of 5 days (in class)

Criteria you must meet

You are need to be a Nigerian citizen and to have a residence in Nigeria.

You must be between the ages of 18 and 35 to use this website.

Your idea for a business must have commercial potential.

They are accessible from this location.

The Titan show

The Titan Show is a reality television show that gives entrepreneurs from all across Nigeria the opportunity to pitch their company concepts to viewers in the hopes of winning a prize pool of up to seven million naira. After all of the contestants have presented their pitches, the judge, who is typically a successful businessperson, will select the top three winners.

They are accessible from this location.

Opportunity for funding through Grofin

Grofin is an organization that has its tenatces located in 15 different countries throughout Africa. In addition to providing training for entrepreneurs, its mission is to provide financial support to African businesses with requirements ranging from one hundred thousand to one and a half million dollars. In the same way that other organizations and financing programs do, they have their own requirements.

You must originate from Africa and maintain a residence there.

Your company absolutely has to make a profit.

If you are the owner of the company, you have an obligation to be involved in its operations.

Your company’s finance requirements should fall somewhere between $100,000 and $1.5 million.

They are accessible from this location.

African Youth Entrepreneurship Development Initiative in Nigeria (AYEEN)

The mission of AYEEN is to encourage and support entrepreneurial activity in Nigeria by way of providing funding opportunities, business training, and mentoring. As with other organizations, AYEEN will need you to compete in pitching against other business owners; however, there will be no victor; rather, they will select the finest 100 business owners and set them up.

In order to apply to AYEEN, you must first satisfy these requirements.

You seem to be from Nigeria.

Your company must have its headquarters in Nigeria.

They are accessible from this location.

Entrepreneur organization worldwide student entrepreneur awards (GSEA)

The GSEA is concerned with student entrepreneurs, and they offer grants to students who are simultaneously pursuing their education and running a business; to qualify for the grant, the student’s business must have produced at least $500 in profit.

It is a worldwide competition in which students from all around the world compete by presenting their businesses to an audience and a panel of judges. The runner-up in first place takes home $10,000, the second-place finisher takes home $5,000, and the third-place finisher takes home nothing.

They are accessible from this location.

The government’s initiative to promote enterprise and empowerment.

This comes from the federal government, but rather than being a grant, it is a loan with no interest that you can take out. The program’s objective is to provide loans ranging from 10,000 to 100,000 won to small and medium-sized enterprises and artisans.

Funding for the advancement of women-owned businesses (BUDFOW)

The Federal Ministry of Women Affairs and Social Development, in collaboration with the Bank of Industries, developed a program called BUDFOW with the goal of inspiring more women to pursue careers in business ownership and management.

Women in Nigeria will receive funding for training as well as mentorship through this program.

They are accessible from this location.

Dangote Boi fund

Dangote and the bank of industries have formed a collaboration with the intention of creating employment opportunities for Nigerians through the provision of funding and training for entrepreneurs.

Even if the total amount of the fund at the beginning is only N5 billion, there are plans to increase it to N20 billion.