Federal Government of Nigeria Announces Date To Start Payment of ₦150,000,000,000 Federal Government Loan
The Federal Government of Nigeria says the disbursement of ₦150,000,000,000 federal government loan to micro, small and medium enterprises (MSMEs) and manufacturers would start by the end of July 2024.
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, revealed this in a statement through her official X handle on Thursday 27th June 2024.
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, said that 60% of the proposed 1,000,000 beneficiaries of the Federal Government Grant had received a federal government grant of ₦50,000 without repayment obligations in the seven hundred and seventy four local government areas of the country.
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, 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% of the 1,000,000 grants.
“You can track the number of beneficiaries per LGA paid so far on the federal government grant portal.
“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.”
Recall that in December 2023, the Federal Government launched the Federal Government Grant as part of the Presidential Palliatives Programme aimed at supporting businesses to navigate the economic crunch caused by government policies.
Accordingly, the fund dedicates ₦75,000,000,000 to MSMEs and another ₦75,000,000,000 to the manufacturing sector to assist businesses in Nigeria navigate the harsh economic realities.
Reports from a reliable source have it that at the end of the Federal Executive Council meeting on Thursday, President Bola Ahmed Tinubu approved an ₦50,000 uplift grant for 3,600,000 households in Nigeria.
Comments
Post a Comment