Business Grants In Nigeria For Entrepreneurs 2023

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Last Updated on December 7, 2022

Looking for business grants in Nigeria? This article lists the best available business grants in Nigeria for entrepreneurs.

Available Grants in Nigeria

What is a Grant?

A grant is defined as money or capital given to an individual or a business for a specific reason.

While a business grant is equally an amount of money given to a business for the purpose of expanding and augmenting the enterprise.

Grants are normally given by the government or organizations and may be either refundable or not depending on the type.

With this, it will be valuable to know the full list of available business grants in Nigeria, as we will explain the eligibility and criteria on how to apply for it.

Business Grants in Nigeria

Below, we have listed all the available grants in Nigeria for entrepreneurs to take advantage of.

The following are the top 20 grants in Nigeria;

1) Africa’s Young Entrepreneur Empowerment Nigeria (AYEEN)

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.

To be eligible:

-Must be 18 years and above.

-Must have a great business idea or run a business.

-Must live in Nigeria.

How to Apply

-Visit the AYEEN website.


-Fill in the necessary forms required.


2) 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.

To be eligible:

-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:

-Create an account.

-Complete the necessary form and submit

3) Shell LiveWire

This 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.

To be eligible:

-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: for more information and updates.

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.

4) GroFin Fund

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

To be eligible:

-Your business must be in any of these categories: 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: to apply.

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 businesses.

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.

To be eligible:

-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: to apply.

6) 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

To be eligible:

-Your business must be in Nigeria and must be registered.

-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.

7) 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.

To be eligible:

-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: to register

8) USADF Grant

The U.S. African Development Foundation (USADF) is an independent American government agency that is committed to empowering African countries by providing grants to Nigerian entrepreneurs.

And also to entrepreneurs in several other African countries in order to improve their lives and livelihoods.

To be eligible:

-You must be above 18 years

-You must be a citizen of the country you are applying from.

-You must have a registered business.

-Your business must be located in Africa

How to Apply

To apply for USADF grant, visit their website:

9) KickStart

KickStart is a social investment initiative by the IB PLC Foundation aimed at reducing unemployment by ensuring young innovators and entrepreneurs get the right training, business skills, mentorship and development support.

It targets the youths of the southwest by ensuring their lives are greatly improved as well as the economic prosperity of the southwest.

It organizes a yearly competition in which the winner gets a grant to KickStart their business.

To be eligible:

-Age range: 18 to 35 years.

-Must be from the southwestern region and also have a business there.

-Must have a valid ID.

-Must have an innovative and profitable business idea.

-Must be literate.

-Must be able to operate the business full-time.

How to Apply

To apply, visit their website:

10) 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 to the growth of Africa.

To be eligible:

-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: to apply.

11) 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 on solving problems.

To be eligible:

-Must reside or belong to any of the African countries.

-Must have an innovative and analytic mind.

How to Apply

Visit their website:

12) 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.

To be eligible:

-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.


-Tag and follow @NYEEsummit.

13) Global Innovation Fund

This is a funding program aimed at providing support to innovative minds in Africa in which Nigeria is not left out. Beneficiaries with innovative business ideas are supported with grants or loans.

To be eligible:

-Must be 18 years of age and above.

-Must be a citizen of the country you are applying from.

-Must have outstanding business ideas.

How to Apply

To apply for Global Innovative Fund, visit their website:

14) African Women Development Fund

A funding initiative aimed at supporting the rights of women and organizations owned by women in the world.

It ensures that grants are provided to organizations that focus on tackling women’s economic security and justice, issues of health rights, participation, peace, and leadership.

To be eligible:

-Organization must be owned and led by a woman.

-Organization must be registered in an African country.

-Organization must be 3 years old.

-Must have a sound financial management system.

-Must be able to give feedback for projects undertaken.

How to Apply

Visit: to apply.

15) Diamond Bank BET Programme

BET (Building Entrepreneurs Today) is a program organized by Diamond Bank to support Nigerian entrepreneurs in gaining the necessary business skills and training in order to aid the growth of their businesses.

50 applicants are successfully selected to undergo intensive training for a period of 6 months and after training has been completed, the top 5 applicants are given grants of 3,000,000 naira to expand their business.

The programme has greatly contributed to wealth creation across the country by providing support to numerous entrepreneurs.

To be eligible:

-Must be a citizen of Nigeria.

-Must have an innovative business idea that can make a social impact.

-Must have been business in Nigeria.

-Entrepreneurs from all sectors in the country can apply.

How to Apply

To apply, visit:

16) Unilever Young Entrepreneurs Award

Young entrepreneurs who are keen on proffering solutions to world problems can apply for Unilever Young Entrepreneurs Award.

It provides financial support to young innovative entrepreneurs in order to expand their businesses.

To be eligible:

-Age range: 18 to 35 years.

-Must have innovative business ideas to make a social impact.

-Must be skilled in the health sector.

-Must be able to improve people’s well-being and health.

How to Apply

To apply for Unilever Young Entrepreneurs Award, you need to visit: to register and complete your profile.

17) Bank of Industry Youth Entrepreneurship Support Program

This funding program by the Bank of Industry is aimed at cultivating the habit of entrepreneurship in youths by providing funds for profitable business ideas as well as training them extensively.

Applicants undergo 8 weeks of extensive online business and entrepreneurship training.

To be eligible:

-Must have a viable business idea that will be situated in Nigeria.

-Must be a Nigerian citizen between the ages of 18 to 35.

-Must have a minimum qualification of OND.

How to Apply

Visit: to apply.

18) I-Startup SouthWest Programme

This is a social investment initiative by the federal government to provide mentorship, training, and nonrefundable grants to entrepreneurs.

This program is opened to all entrepreneurs using tech to proffer solutions to problems in ICT, Agriculture, Digital oil field and manufacturing.

To be eligible:

-Business must be located in the Southwest region.

-Must have a profitable business idea in ICT, Manufacturing, Governance, Health, or Agriculture.

-Must have a business for profit.

How to Apply

To apply, visit:

19) Africa Netpreneur Price

This is an initiative by Jack Ma Foundation to financially support entrepreneurs across Africa.

To be eligible:

-Must belong or reside in any of the African countries.

-Entrepreneurs of all ages can apply.

-Business must be located in any of the African countries.

How to Apply

To apply, visit: to know when the application starts.

20) Leventis Foundation Agricultural Training Programme

This funding programme is aimed at providing financial, physical, and mental support to farmers across the country in order to boost the country’s economy.

To be eligible:

-Age range: 18 to 40 years.

-Must be physically fit.

-Must be literate.

-Must have a good background in farming.

Comments (1)

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  1. Freedom Omoruyi says:

    Thank you

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