Starting a business in Nigeria comes with its own set of challenges, particularly when it comes to funding. However, numerous free grants are available to support entrepreneurs, helping them turn their business dreams into reality. In this guide, we will outline five top grants in 2025 that Nigerian entrepreneurs can apply for and provide tips on improving your approval chances. You can secure the necessary funding to grow your business with the right approach and information.
1. ScaleUp Business Pitch Challenge (Bet9ja Foundation)
The ScaleUp Business Pitch Challenge by the Bet9ja Foundation is an annual grant competition designed to support early-stage Nigerian businesses with financial aid, mentorship, and networking opportunities. The program aims to drive economic development by helping small businesses scale and thrive.
How to Apply:
● Submit your business details using the application form on the Bet9ja Foundation website when applications open.
● Upload a concise business plan and financial summary using the provided templates.
● Applications will be assessed based on innovation, business viability, market potential, and team strength.
● Shortlisted candidates will be invited for further evaluation and a pitch competition.
Eligibility Criteria:
● Must be a registered business in Nigeria with at least six months of operations.
● Operates within sectors like Agriculture, Technology, Fashion & Lifestyle, Food & Beverage, Manufacturing, or Services.
● Has a clear business model with significant growth potential.
● Can demonstrate how the grant will help scale the business.
Key Benefits:
● ₦3 million grant awarded to 10 businesses.
● Access to a 3-month accelerator program with mentorship and workshops.
● Opportunity to pitch to angel investors at the Demo Night.
● One business will win an additional ₦5 million grant for the Best Pitch Award.
● Networking with industry leaders and potential investors.
Application Timeline:
● The application has closed for 2024, but look for 2025 applications on the website.
2. Tony Elumelu Foundation Entrepreneurship Programme (TEF)
The Tony Elumelu Foundation (TEF) is one of Africa’s largest entrepreneurship initiatives, providing up to $5,000 in seed funding, training, and mentorship to young entrepreneurs.
How to Apply:
● Visit the TEF website when the application window opens (usually at the start of the year).
● Complete the online application detailing your business idea and its scalability.
● Participate in the required business training sessions.
Tips for Getting Approved:
● Highlight the impact of your business on local communities.
● Show a scalable business model with strong potential for growth.
3. Lagos State Employment Trust Fund (LSETF)
The LSETF supports Lagos-based entrepreneurs by offering SMEs funding and business development support.
How to Apply:
● Ensure your business is registered in Lagos State.
● Apply via the LSETF portal, detailing your business model and job creation potential.
Tips for Getting Approved:
● Emphasise job creation as a key business goal.
● Present a detailed business plan with financial projections and sustainability strategies.
4. YouWiN! Connect Nigeria
YouWiN! Connect Nigeria is a government-backed initiative supporting youth-driven enterprises with grants, training, and mentorship.
How to Apply:
● Register on the YouWiN! Connect website and submit your business idea.
● Attend training and provide additional documentation as required.
Tips for Getting Approved:
● Focus on scalability and economic impact.
● Show commitment to entrepreneurship through training participation and networking.
5. Shell LiveWIRE Nigeria
Shell LiveWIRE Nigeria supports young entrepreneurs in oil-producing communities by offering business training, mentorship, and funding.
How to Apply:
● Sign up for the Shell LiveWIRE program on the official portal.
● Complete entrepreneurship training and submit a business plan.
Tips for Getting Approved:
● Ensure your business benefits oil-producing communities.
● Show leadership and commitment during training sessions.
How to Increase Your Chances of Grant Approval
Securing a business grant can be highly competitive. Here are some key strategies:
- Develop a Solid Business Plan: A detailed plan should include market analysis, financial projections, and a clear growth strategy. Explain how the grant will contribute directly to your success.
- Follow Guidelines Closely: Each grant has specific eligibility criteria and application steps. Ensure your submission is complete and that you follow instructions strictly.
- Highlight Your Business Impact: Funders prioritise businesses that create jobs, solve local problems, or drive innovation. Use metrics and real-world examples to demonstrate impact.
- Take Advantage of Mentorship: Many programs, like TEF and Shell LiveWIRE, offer mentorship. Engage actively to refine your business strategy and increase your chances of success.
- Show Commitment: Demonstrate your dedication to entrepreneurship through past experiences, training, and resilience in overcoming business challenges.
Final Thoughts
At Bet9ja Foundation, we are dedicated to supporting Nigerian entrepreneurs. Our ScaleUp Business Pitch Challenge provides small businesses funding, mentorship, and growth opportunities.
BEFORE YOU GO…
IFRAME SYNC
