Grants In Nigeria: One of the biggest challenges faced by anyone that wants to embark on a big project is funding. Many people are stuck in their educational pursuit due to lack of funding; so many innovative ideas and research projects are stuck as well due to the same reasons.
From time to time, government, private parastatals, and even individuals provide grants or support to people that meet certain specifications. An oil company, for instance, can decide to give the educational grant to engineering students to carry out their research or study abroad. The government can also decide to sponsor agricultural entrepreneurs or people with innovative ideas.
A subsidy that comes in form of money or other kinds of support which you don’t have to pay back, is called a grant. It’s different from a loan. To avoid misuse of grants, you are expected to record every kobo you spend, there should be a documented proof.
How would you feel to receive monetary support for your business or education without worrying about paying back ever? Let’s look at the different types of grant available in Nigeria:
Educational and Training Grants
There are many Grants In Nigeria available for students to study and further their education abroad. These grants come mostly from multinational companies or private parastatals and individuals.
Postgraduate students carry out intensive research projects which require external funding at times. Schools and multinational companies often create an opportunity for funding research projects relevant to their objectives.
Such Grants In Nigeria are given to those people who need to participate in important events like conferences, seminars or so abroad and cannot cover the cost on their own. There are a lot of Travel grants available for women to attend international conferences.
- Small projects
Such projects are often one-time like giving support to a certain school or gathering public opinion but sometimes they can last for a longer time. In such situations, additional grant sources are involved.
Grant Opportunities For Nigerian NGOs in 2018
- VilCap Communities Africa
Deadline: July 6, 2018.
This programme was launched by the Village Capital in cooperation with the United Kingdom’s DFID (Department for International Development). They seek enthusiasts and active leaders in sub-Saharan Africa who would work for the boosting of the impact investment.
- IOM – International Organization for Migration
Deadline: June 29, 2018.
IOM is calling for registered Civil Society Organizations that deal with migration labor problems in and outside Nigeria. The priorities include the protection of Nigerians working in Saudi Arabia and the migrants who have come to work in Nigeria, and the extension of activities in the sphere of labor inspection.
- Hello Tomorrow Global Challenge
Deadline: September 15, 2018.
The grant is meant for those whose activities are connected to the newest technologies and for those who are ready to present their technology startup ideas. The large funding available is supposed to draw the attention of all those who wish to win.
- Diagnostic Tools for Poverty-Related Diseases
Deadline: October 11, 2018.
These European grants are meant for those who need additional funding to promote their tools and methods of diagnostics, which would be more effective than the existing ones in the sub-Saharan African countries.
Business Grants In Nigeria In 2018 – Profit Organizations
Business grants in Nigeria are meant for entrepreneurs of different types who work in various industries for profit. Some of the outstanding ones include:
- Tony Elumelu Foundation
Tony Elumelu Foundation offers support to entrepreneurs who are significant contributors of the economy of African countries and the moving force of their further development. You can find additional details and application conditions on their official website. It tops the list of Grants In Nigeria.
YouWin! which stands for Youth with Innovation is targeted at Nigerian youths with innovative ideas in different areas. You must be between 18 and 40 years old. It’s for people who are not civil servants and who have a business of their own. The goal is to help young business owners exchange ideas with experts in a certain industry and thus establish working connections. You can find more instructions and application forms on their website.
- Lagos State Trust Fund
Lagos State government is rendering the needed financial support to enterprises for the sake of their development, the creation of jobs and reducing unemployment, and for the development of their individual wealth. If you are a Lagos resident, this opportunity is for you.
This is a Grants In Nigeria giving support to the mall and medium-sized business for the sake of their development. The foundation believes that the development of small businesses can add significant growth to the country. Try this opportunity if you have a new, just created business that needs thorough development.
Grants In Nigeria: The Available Agricultural Grants In Nigeria 2018
The most popular grants for Agriculture in Nigeria are the ones provided by banks. They often come in form of loans instead of grants. That means they are expected to pay back with subsidized interest rates. Thus, for instance, a person can have a Central Bank loan and use it on the development of their farm. The CBN has specialized N75 billion to distribute among the farmers who need financial support.
Other banks that give out such development loans are the Bank of Agriculture, Zenith Bank, Stanbic, Union Bank, and so on. If you need additional funding, you can find it in these financial facilities.
Some Federal Governmental Grants In Nigeria
Since we’re talking about grants in this article and not a loan, the banks mentioned above may not be important to you. However, there are some more interesting grant programs available.
If you are a farmer, you are eligible to become a member of certain associations of farmers in Nigeria and receive financial support from the state. Farmers receive a lot of attention from the government in Nigeria but this is barely enough. Yet, the agricultural sector is the biggest contributors to the economy of the country, shouldn’t more attention be given to them?
Grants have a big positive influence on the society. By using grants for your business, you develop your enterprise and indirectly, the entire country as well.