The Federal Government on Thursday said the disbursement of N150bn loans to micro, small and medium enterprises and manufacturers would commence by the end of July.
It also disclosed that 60 per cent of the proposed one million beneficiaries of the Presidential Conditional Grant had received a financial grant of N50,000 without repayment obligations in the 774 local government areas of the country.
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, revealed the latest information in a post via her official X handle on Thursday.
In December 2023, the Federal Government unveiled the Presidential Conditional Grant Scheme as part of the Presidential Palliatives Programme aimed at supporting businesses to navigate the economic crunch caused by government policies.
The fund dedicates N75bn to MSMEs and another N75bn to the manufacturing sector.
The minister noted the government is well aware of the current business climate and created the fund to help Nigerian businesses navigate the harsh economic conditions.
She said, “To all applicants of the Presidential Conditional Grant Scheme who are yet to be paid, thank you for your continued patience. The disbursement process is still ongoing, and we have allocated about 60 per cent of the 1 million grants.”
