Federal Government To Commence ₦150,000,000,000 Loan Disbursement By July

According to the Minister of Industry, Trade and Investment of the Federal Republic of Nigeria, Honourable (Dr) Doris Nkiruka Uzoka-Anite all applicants of the federal government grant who are yet receive the federal government grant, should kindly note that the federal government grant disbursement process is still ongoing, and according to the Minister the Bank of Industry have allocated about 60% of the 1,000,000 federal government grant. Applicants can track the number of beneficiaries per Local Government Area (LGA) that have received the federal government grant so far on https://grant.fedgrantandloan.gov.ng/learn-more/disbursement.

The minister said "It is important to note that almost 4,000,000 Nigerians applied for the federal government grant of ₦50,000, but only 1,000,000 beneficiaries can be accommodated. This implies that not all applicants will receive the federal government grant. The selection is not based on who applied first for the federal government grant; everyone has an equal chance but by random computer generated selection. While President Bola Ahmed Tinubu may launch other social intervention programs in the future, there are no immediate plans at this time."

The Minister further said "the teams in my office and BOI have worked tirelessly to ensure this process is fair and accurate. Testimonial videos are already being shared, showcasing how the grant has positively impacted lives and we will share many more. We have prioritized accuracy over speed to ensure every Nigerian who applied has a fair shot. We had hoped to complete all 1,000,000 disbursements by now but the process has been delayed due to incorrect or missing data, duplicate and spurious applications, which we have had to meticulously clean up to ensure eligibility and validation."

The Minister for Industry, Trade and Investment Doris Nkiruka Uzoka-Anite also said "we are also at the final stages of vetting for the MSME and Manufacturing loans. Applications remain open, and disbursement will begin by July ending.

Finally, it is your right as citizens to criticise and hold the government accountable. However, we encourage constructive feedback without resorting to abuse or bigotry. Personal insults and hate speech are not likely to aid your applications and will not be tolerated. Together, we can build a more prosperous Nigeria. Thank you once again."

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Source: https://x.com/DrDorisAnite/status/1806379734512869718