Federal Government Of Nigeria To Conclude Disbursement Of ₦50,000 Federal Government Grant By Friday May 31st, 2024
The Federal Ministry of Industry, Trade and Investment has announced that the ₦50,000 federal government grant for nano businesses covering 1,000,000 applicants across the federation is still in progress, stating that it will be concluded by the end of this month Friday 31st May 2024.
The Minister in charge of the federal government grant, Doris Uzoka-Anite, revealed this in a frequently asked questions (FAQ) circular issued on Thursday on her official X (formerly Twitter) account.
According to Doris Uzoka-Anite, the federal government grant disbursement is ongoing and all remaining successful applicants will receive their alerts between now and 31st May 2024.
“Many have already received their grants—thank you for your patience! For those waiting, please hold tight.
“The disbursement process is ongoing in batches and not yet completed. All remaining successful applicants will receive their alerts between now and the end of May. No further action is needed on your part for now.
“The disbursement is currently in progress and processed in batches. It is expected to be completed by the end of May 2024."
Only one million applicants to receive the federal government grant.
Doris Uzoka-Anite, also disclosed that only 1,000,000 from the over 3,600,000 applicants will be eligible to receive the federal government grant, adding that the federal government grant only covers such number of people.
Doris Uzoka-Anite, explained that the federal government grant disbursements are not based on any specific criteria but rather follow the order in which applications are verified.
According to Doris Uzoka-Anite,, the aim is to distribute funds to an estimated 1,290 beneficiaries per local government area (LGA) across the country, aiming for a total of one million recipients.
“Disbursements aren’t based on any specific criteria but in the order, applications are verified. The goal is to reach an estimated 1290 beneficiaries per LGA across the country totaling 1 million.
“Disbursement is subject to verification of NIN, which became mandatory after the initial application phase which required only BVN. The selection is random, without human intervention, from those who have passed both their NIN and BVN verification.
“Of over 3.6 million applicants, only 1 million will receive the grant. This is the threshold based on the amount budgeted for nano businesses,” Doris Uzoka-Anite, said.
In December 2023, the Federal Government launched the federal government grant as part of the Presidential Palliatives Programme aimed at supporting nano businesses.
The federal government grant offers non-repayable financial grants to eligible small business owners in various sectors such as trading, food services, ICT, transportation, creative industries, and artisans.
The federal government grant plans to distribute 70% of the grants to women and youths, 10% to individuals with disabilities, and 5% to senior citizens, leaving 15% for other demographics.
Doris Uzoka-Anite the Minister for Industry, Trade and Investment announced that each qualifying recipient would receive a ₦50,000 federal government grant, which will be directly deposited into their bank accounts, with the goal of reaching 1,000,000 small businesses across the 774 LGAs and six council areas in the Federal Capital Territory (FCT).
Stressing the extensive impact of the federal government grant, Doris Uzoka-Anite highlighted its potential to benefit communities across the entire nation, targeting a total of 1,000,000 beneficiaries.
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