This was as part of its media initiative to strengthen community media and citizen journalism,
Director, Bloomberg Media Initiative Africa, Erana Stennett said beneficiaries will seize the opportunities to affect their communities.
The director said the grant would help to advance market transparency, and enhance access to information about business and finance.
It would further aid policies and practices that impact inclusive economic growth and human development.
The fund, which is provided by the Community Media Fund, is a US$1million fund established in 2015 to elevate voices from local communities.
The fund seeks the development of citizen journalism and community reporting on financial and economic issues
“Using traditional, digital and mobile technology, these grant recipients are working to inform and empower poor and marginalised communities about business and economic issues that impact their lives.
According to the organisation, Bloomberg will implement its project, in partnership with the Nigeria Community Radio Coalition and five community radio stations in four states in Nigeria.