• Saturday, June 15, 2024
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Nigerian businesses to get N500m of Facebook’s $100m grant


Facebook said it plans to support 781 small businesses in Nigeria with a grant of N500 million ($1.3 million) as part of the $100 million Global Grants Programme it announced in March.


The $100 million grant which is planned for 30,000 small and medium scale businesses (SMBs) in over 30 countries where Facebook operates includes both ad credits and cash grants that can be spent on operational costs like paying workers and paying rent. 


“We know small businesses are the engine of the Nigerian economy, the COVID-19 pandemic has extended beyond a public health crisis to an economic emergency, with these small businesses most affected,” Nunu Ntshingila, Regional Director, Facebook Africa, said. “We’re listening to the challenges these small business owners are facing right now and want to provide useful resources for them during this difficult and uncertain year.”


Facebook has engaged Deloitte in partnership with FATE Foundation and Afrigrants to administer the N500 million grant in Nigeria. In a statement BusinessDay received, the grant will be available to qualifying SMBs in Nigeria, applications will be open from 24 August 2020 for the North East, North West, and Southeast regions and 26 August for the South West, South-South, and North Central regions.


Recognising that SMBs need training, digitalisation assistance, and improved social connection infrastructure as consumer behaviour shifts online, Facebook has also rolled out virtual versions of its in-person training – Boost with Facebook across Nigeria. These free webinars and online resources cover a range of topics from how to take the business online, build resilience, stay connected with customers, and adapt in real-time.