7 FG programmes offering loans, grants and financial support to Nigerians — and how to benefit

• The Nigerian government offers seven distinct programmes providing financial aid, loans, and training for women, youth, farmers, and vulnerable households.

• While NERSI provides a free ₦50,000 grant to pre-selected households, most initiatives (like GLOW, YouthCred, and RAPID) are loans that require repayment with interest.

• Nigerians are advised to apply strictly through official portals and never pay agents or share banking passwords to access these funds.

The Federal Government has introduced several programmes to help Nigerians access loans, start businesses, support their families and improve their livelihoods.

Some target young entrepreneurs and women-owned businesses, while others focus on farmers, students and low-income households.

However, not all these programmes offer free money. Some provide loans that must be repaid, while others offer grants, training or business support.

Here are seven recent government programmes, what they offer and how interested Nigerians can find out more.

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The National Emergency Relief and Stabilisation Intervention (NERSI) is a Federal Government programme designed to help poor and vulnerable households cope with rising living costs.

Selected beneficiaries receive ₦50,000 as a grant, which means they do not have to repay the money.

Unlike ordinary loan schemes, NERSI does not have a public application process. Beneficiaries are selected using verified national identity records and the National Social Register.

• How to benefit: If selected, you will receive an SMS from an approved provider, including OPay, Moniepoint, ALAT, MoMo or NairaGram. You will be asked to confirm your participation before the money is credited to your mobile wallet.

The programme's official website explains how beneficiaries are contacted and how to identify fraudulent messages.

The Guaranteed Loans for Women (GLOW) programme is a ₦10 billion initiative by the Bank of Industry (BOI) designed to help women-owned businesses access financing.

It supports businesses in sectors such as manufacturing, technology, healthcare, education, renewable energy, fashion and agribusiness.

Eligible businesses can access up to ₦10 million for micro enterprises and up to ₦50 million for small and medium-sized businesses. The published interest rate is 7% annually.

• How to apply: Visit the BOI GLOW portal to check the eligibility requirements and application process. Applicants should prepare their business registration documents, business plan, bank statements and identification.

The money is a loan, not a grant, and applicants must meet BOI's security and repayment requirements.

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Launched in August 2025 by the Nigerian Consumer Credit Corporation (CREDICORP), YouthCred is designed to help Nigerians aged 18 to 39 access consumer credit.

The programme initially focused on National Youth Service Corps (NYSC) members, with plans to extend access to employed young Nigerians and youth-owned businesses.

It also requires applicants to complete financial literacy training to understand responsible borrowing, credit management and repayment.

• How to apply: Visit YouthCred's official website to check the current application process and eligibility requirements. Applicants should have their BVN and NIN available for verification.

YouthCred provides credit, so successful applicants are expected to repay what they borrow under the agreed terms.

The Federal Government has introduced SPARK, a USSD-based credit service managed by CREDICORP.

The service is designed to help Nigerians access consumer loans using basic mobile phones without needing a smartphone or internet connection. It also aims to help first-time borrowers establish formal credit histories through responsible repayment.

However, the service is being rolled out in phases, and nationwide availability has not been confirmed.

• How to access it: Dial *347*333# on your mobile phone and follow the instructions if the service is available on your network. 

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The Federal Ministry of Youth Development launched the Youth in Agribusiness Land Trust Fund (YiALTF) in June 2026 in partnership with the International Institute of Tropical Agriculture (IITA).

The initiative aims to help young Nigerians enter agriculture by addressing barriers such as access to land, finance, equipment and technical knowledge.

Its support includes agricultural training, mechanisation, mentorship, business incubation and links to markets. At its launch, 10 young farmers received ₦1 million grants each to expand their businesses.

• How to benefit: Visit the Federal Ministry of Youth Development's website for official announcements about training, opportunities and enrolment.

The Rural Area Programme on Investment for Development (RAPID) is a BOI initiative that provides financial support and business advisory services to nano, micro and small businesses in rural and economically disadvantaged communities.

It aims to help small businesses expand, create jobs and improve living standards, particularly in communities where access to conventional financing can be difficult.

The programme lists a maximum loan period of three years and an interest rate of 5% annually.

• How to apply: Visit the official RAPID application portal. Applicants are expected to provide documents such as a business plan, BVN, NIN, identification, proof of address and guarantor forms.

Check the portal for the latest requirements before applying.

The Bank of Industry launched a ₦2 billion entrepreneurship programme for serving NYSC members in October 2025.

The initiative is designed to help corps members turn business ideas into viable enterprises and reduce their dependence on salaried employment.

Eligible applicants can access loans of up to ₦5 million at an announced interest rate of 9% annually.

• How to apply: Serving corps members interested in the scheme should contact the NYSC's Skills Acquisition and Entrepreneurship Development (SAED) programme or the Bank of Industry to confirm the current application window, requirements and submission process.

The loan is not automatic for every corps member. Applicants should expect to demonstrate that they have a viable business plan.

Always check the programme's official website or contact the responsible agency to confirm whether applications are open, who qualifies and what documents are required.

Also, remember that a loan is not a grant. Check the interest rate, repayment period and any additional charges before accepting an offer.

Most importantly, do not pay individuals who promise to secure government loans or grants for you.

Legitimate programmes publish their application procedures, and you should never share your banking PIN or one-time password with an agent.