Politics
Federal Government Set To Disburse ₦150 Billion Loan From July
Federal Government Set To Disburse ₦150 Billion Loan From July....KINDLY READ THE FULL STORY HERE▶
The Federal Government announced on Thursday its plan to commence the disbursement of N150 billion in loans to micro, small, and medium enterprises (MSMEs) and manufacturers by the end of July. This initiative is part of the Presidential Conditional Grant Scheme aimed at supporting businesses across Nigeria amid economic challenges caused by government policies…….. CONTINUE READING
Dr. Doris Uzoka-Anite, Minister of Industry, Trade and Investment, disclosed this update via her official handle. She revealed that 60% of the intended one million beneficiaries under the Presidential Conditional Grant Scheme have already received N50,000 each, without any repayment obligations, across the 774 local government areas nationwide.
Established in December 2023, the Presidential Conditional Grant Scheme allocates N75 billion to MSMEs and another N75 billion to the manufacturing sector. The minister emphasized that these funds are designed to assist Nigerian businesses in navigating the current economic climate.
Addressing concerns from applicants awaiting disbursement, Dr. Uzoka-Anite clarified that selection is based on random computer-generated processes rather than on a first-come, first-served basis. She acknowledged delays in the disbursement process due to issues such as incorrect data, duplicate applications, and spurious entries.
Recently, The PUNCH reported that N20.11 billion has already been disbursed to 402,283 beneficiaries through their Bank Verification Numbers. The minister assured applicants that efforts are ongoing to ensure fair and accurate distribution of the grants and loans.
She concluded by encouraging constructive feedback from citizens and reaffirmed the government’s commitment to transparency and accountability in its social intervention programs.
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