Npower News: Federal Government Grant To Be Disbursed This Week And In Weeks To Come

According to Npower News, the Federal Government of Nigeria proudly launches the Micro Small And Medium Enterprises (MSME) and Manufacturing segment of the Presidential ₦200,000,000,000 Fund.

With the applications for the Federal government grant now closed, the Federal Government of Nigeria is thrilled to commence the loan disbursement for Micro Small And Medium Enterprises (MSME) and the manufacturing sector, aiming to foster economic growth, employment and industrial development. 

The Fund Allocations are:

1) ₦75,000,000,000 for Micro Small And Medium Enterprise (MSME) 

2) ₦75,000,000,000 for Manufacturing 

According to Npower News on the federal government grant, the initial phase of  disbursements of the federal government grant to nano businesses and beneficiaries have shown tremendous success, assisting 1,000,000 nano businesses across the federation. Once the federal government loan disbursement process is complete all beneficiaries will be listed on federal government grant and loan website. The federal government grant disbursement process is ongoing and so far only about 10% of the 1,000,000 beneficiaries have received their federal government grant. More federal government grant will be disbursed this week and in the weeks to come.  Applicants that qualifies for the federal government grant will receive their disbursement between this week and next week.

According to Npower News on the federal government loan, prospective applicants can visit their local state Bank of Industry branch or apply through the website dedicated for the federal government grant and loan.

The federal government loan details are as follows:

A) Micro Small And Medium Enterprise (MSME) : Up to ₦1,000,000 

B) Manufacturers: Up to ₦1,000,000,000