5 Proven Ways SMEs in Nigeria Can Access Grants to Grow Their Business

Small and Medium Enterprises (SMEs) are the backbone of Nigeria’s economy, contributing over 48% to the national GDP and employing more than 84% of the workforce. Yet, access to funding remains one of the biggest hurdles.

The good news? Grants, non-repayable funds, are increasingly available to help Nigerian entrepreneurs scale their businesses. Here are five powerful ways SMEs in Nigeria can secure grants and unlock growth

1. Government-Backed Grant Programs

Tap into Federal Initiatives Designed for MSMEs

The Nigerian government has significantly ramped up its support for SMEs through targeted grant schemes:

• Presidential Conditional Grant Scheme (PCGS): In Q1 2025 alone, over ₦50,000 grants were disbursed to nano businesses across all 774 local government areas.
• SMEDAN Conditional Grant Scheme: Empowered 116,661 entrepreneurs and created over 90,000 jobs in early 2025.

These programs prioritise women, youth, and microenterprises in agriculture, ICT, and creative industries. Applying through platforms like SMEDAN or the Bank of Industry (BOI) is a strategic first step.

2. Leverage Private Sector and Bank-Led Grants

Partner with Foundations and Financial Institutions

Private organisations and banks are stepping up to support SMEs:

• Tony Elumelu Foundation (TEF): Offers $5,000 in seed capital annually to thousands of African entrepreneurs.
• Wema Bank’s SARA Initiative: Provides grants and digital training, especially for women-led businesses.

These programs often combine funding with mentorship and visibility, giving SMEs a competitive edge.

3. Explore International Development Grants

Access Global Funding Through NGOs and Donor Agencies

International organisations are investing heavily in Nigeria’s SME ecosystem:

• USAID, GIZ, and UNDP fund agriculture, education, and digital innovation projects.
• Many of these grants are channelled through local partners and require clear impact metrics.

In 2025, Nigeria received over ₦1 trillion in SME grants from both domestic and international sources, a clear signal of global confidence in local entrepreneurship.

4. Use Grant Aggregator Platforms and Networks

Stay Updated and Apply Early

Information is power. SMEs can find active grant opportunities through:

• Entrepreneurs.ng, MSME Africa, and The SME Mall.
• These platforms offer alerts, application guides, and success stories.

With over 67% of SMEs reporting financing constraints in 2024, staying informed can be the difference between stagnation and scale.

5. Build a Grant-Ready Business Profile

Prepare a Strong Proposal That Stands Out

Most grants require more than just a good idea. Here’s what funders look for:

• A clear business model with measurable impact.
• Financial records and growth projections.
• Social inclusion, especially women and youth empowerment.

According to PwC’s 2024 MSME Survey, over 50% of Nigerian SMEs face declining sales due to inflation and low consumer spending. A well-structured proposal can demonstrate resilience and scalability, making your business a prime candidate for funding.

Conclusion: Your Business Deserves to Be Funded

Accessing grants in Nigeria is no longer a distant possibility; it’s a strategic move that thousands of SMEs are already leveraging to scale, innovate, and thrive.

Whether you're just starting or looking to expand, the opportunities are real, the support is growing, and your business is worth investing in.

With the right information, a compelling proposal, and a proactive mindset, you can position your SME to attract the funding it needs. The Nigerian entrepreneurial landscape is evolving fast, and those who act boldly will lead the charge.

So, don’t wait for perfect conditions, start applying, start building, and start growing. Your next big breakthrough could be one grant away.