.png){kind=small}
Grants are one of the best opportunities one can lay hands on, especially when trying to start/expand a business or sort some personal needs. When you are given grants, in most cases, you are not expected to pay back. It’s just like getting free cash to help oneself. This gives one a very relaxed mind, not bothering how to pay back in a stipulated time, had it been a loan.
From time to time, there are always a number of ongoing grant opportunities in Nigeria; ranging from grants for individuals and grants for businesses. Whichever option, most of them may not really require connection to get, as it is always open for everybody that qualifies.
What is a Grant?
A grant is a financial gift given by a government, foundation, corporation, or organization to support a specific purpose or project. Unlike a loan, a grant doesn’t need to be paid back, which makes it attractive to individuals, businesses, and even non-profits looking to fund various initiatives. Grants are given for education, business expansion, research, community development, and more. They are designed to help people move forward without the pressure of repayment. In Nigeria, grants have become increasingly popular, especially as more Nigerians explore ways to fund personal or business projects.
With economic pressures and the rising cost of living and business setup in Nigeria, grants can provide a financial lifeline for many people. For students, grants can mean access to education without the worry of tuition fees. For business owners, grants can mean funds to purchase equipment, expand operations, or hire more staff. Unlike loans that come with interest and monthly payments, grants are a one-time financial boost to help recipients reach their goals faster and more effectively.
Types of Grants Available in Nigeria
In Nigeria, grants are often designed with specific goals in mind, which means they can vary widely based on who they are meant to support and what they aim to achieve. Generally, grants are categorized by purpose and eligibility, including grants for individuals, small businesses, and specific sectors such as agriculture, tech, and education. Each of these grant categories has unique requirements and objectives, targeting different segments of society to create opportunities, encourage entrepreneurship, or promote growth in key sectors.
Individual Grants
These grants are meant for individuals looking to fund personal projects or initiatives, such as education, skills acquisition, or community programs. They’re available from both local and international organizations.
Business Grants
Business grants in Nigeria are often provided by government agencies, non-profits, and even corporate bodies to support small and medium-sized enterprises (SMEs). These grants focus on helping businesses grow and create jobs.
Sector-Specific Grants
Some grants target specific industries, such as agriculture, technology, health, and education. These are typically sponsored by industry-related organizations or foreign donors who want to support development in these key areas.
Grants for Individuals in Nigeria 2024/2025
Grants for individuals serve for certain purposes that are not business needs. This could be for education, skills development, or even community projects that you are passionate about. If you are looking to take yourself to the next level or just get that extra push you need, these grants are worth checking out.
1.MTN Foundation Scholarship
The MTN Foundation Scholarship is one of the leading scholarship programs in Nigeria aimed at empowering students who demonstrate academic excellence, especially in STEM (Science, Technology, Engineering, and Mathematics) fields. This program by MTN Foundation, the CSR arm of MTN Nigeria, reflects its commitment to supporting Nigeria’s educational sector and nurturing young talents for the future workforce. It provides an opportunity for students in public institutions to complete their studies without the financial burden, allowing them to focus on academic success.
What the MTN Foundation Scholarship Offers
Each year, the MTN Foundation Scholarship awards successful candidates with up to N200,000 annually. This amount is intended to cover tuition, textbooks, and other educational expenses throughout the student’s studies, provided they maintain the required academic performance. This scholarship is renewable each year until graduation, giving beneficiaries the support they need to excel in their chosen fields.
Eligibility Criteria
To be considered for the MTN Foundation Scholarship, applicants must meet the following requirements:
- Applicants must be enrolled in a public university, college of education, or polytechnic in Nigeria.
- Only students in their second or third year are eligible to apply. They must also have a minimum Cumulative Grade Point Average (CGPA) of 3.5 (equivalent to a 2:1) or its equivalent if applying from a polytechnic or college of education.
- The scholarship prioritizes students in STEM-related courses, as MTN aims to develop more professionals in technology, science, and engineering fields.
How to Apply for the MTN Foundation Scholarship
Applying for the MTN Foundation Scholarship is a straightforward online process, though it requires thorough preparation to present a complete and accurate application. Here’s a step-by-step guide to help with your application:
Go to the MTN Foundation portal.
Check for Application Announcements: The scholarship application is usually announced between July and September each year.
Once the application period opens, fill out the online form available on the MTN Foundation’s website. You’ll be required to provide personal details, educational history, current GPA, and details about your institution and course of study.
Applicants will need to upload academic transcripts, proof of enrollment, and any other documents required to verify their eligibility and academic standing.
Successful applicants will be contacted for the next stage of the selection process, which may include an interview or further documentation.
Prepare for an Interview (If Required): In some cases, shortlisted candidates may be invited for an interview. This is usually the final stage before the scholarship is awarded, so be prepared to discuss your academic interests, future goals, and any achievements that make you a deserving candidate.
2. Nigerian Youth Investment Fund (NYIF)
The Nigerian Youth Investment Fund (NYIF) was created by the Federal Ministry of Youth and Sports Development to support young entrepreneurs by providing funds for business start-ups and expansion.
Conclusion
Grant opportunities are real in Nigeria. From time to time; every season of the year, there is always one or more ongoing grant opportunities. Most of these grant opportunities may not really require you to know someone in the Government before you can get them. But they can be really competitive. You only need to position yourself well above other applicants, to stand a higher chance of getting the grant. First, you need to follow every step that each grant opportunity has, and make sure you have the best business plan for the ones that require that. Just like the TEF connect, you will need to go through all their training series to stand a chance of qualifying.