The Ministry of Industry, Trade and Investment says it has begun disbursement of the Presidential Conditional Grant Scheme to verified applicants after an exhaustive selection process.

The government, through the Bank of Industry, had said it would be disbursing three categories of funding totalling N200bn to support manufacturers and businesses across the country.

In a progress report posted on the trade minister’s official X (formerly Twitter) handle on Tuesday, Doris Aniete stated that an unspecified number of beneficiaries have received their grants, adding that by Friday, April 19, another significant disbursement will be made to a substantial number of verified applicants.

She said, “We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme has officially commenced. Some beneficiaries have already received their grants, marking the beginning of our phased disbursement strategy.”


“By Friday, 19th April 2024, a significant disbursement will be made to a substantial number of verified applicants. It is essential to understand that disbursements are ongoing, and not all applicants will receive their grants on this initial date. However, rest assured that all verified applicants will eventually receive their grants in subsequent phases.”

This is coming more than eight months after President Bola Tinubu announced the grant for manufacturers and small businesses and two weeks after applicants were directed to submit their National Identification Numbers as part of the requirements to obtain the grant earmarked to cushion the effect that recent economic reforms have had on businesses in the country.

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In the address, the president said he was determined to strengthen the manufacturing sector, increase its capacity to expand, and create good-paying jobs.

“We are going to spend N75bn between July 2023 and March 2024. Our objective is to fund 75 enterprises with great potential to kick-start sustainable economic growth, accelerate structural transformation, and improve productivity.

‘’Each of the 75 manufacturing enterprises will be able to access N1bn credit at 9 per cent per annum with a maximum of 60 months repayment for long-term loans and 12 months for working capital,” Tinubu said.

The programme, riddled with multiple delays and a complex registration process, had received several criticisms from prospective beneficiaries.

The President of the Association of Small Business Owners, Femi Egbesola, had decried the slow pace of data collation by the supervising agencies, alleging that genuine businesses were being deliberately discouraged from accessing the loans.

https://punchng.com/breaking-fg-begins-disbursement-of-n200bn-palliative-loans/#google_vignette

And the looting spree continues....👌👌👌

No smart person believes any of these lies anymore

APC's economic plan short term and hooked on palliative. what a disaster party

Corruption has eaten deep into the fabric of our nation. Watch how the minister just waved poverty goodbye. Let the siphoning begins!

My question remains, when was it applied for and I didn't see it, or is it for the unknown ?

Damnnn niggar

Scam

Tinubu's administration is full of shit

Here we go again. A government of palliatives.

treesun:

https://punchng.com/breaking-fg-begins-disbursement-of-n200bn-palliative-loans/#google_vignette

They have started again....
Thieves!!! Thieves!!!! Thieves!!!!

'He is not our President' group of friends Ltd too will be expecting it.

This group have various names called the online bandits, emergency lovers of Nigeria, our mandate was stolen interest group, eyes on judiciary, to mention but a few. The mother name for them is OBIDIENT MOVEMENT.

May IPOB not happen to them sha.

When was it announced ?

Or they will finish distribution before announcing it?

Anything palliative in this corn3 is a Scam, laden with corruption and sharp practices.

Atlas77:
I pray it reaches the right people

@right people

If it is to good to be true.Then it's obviously a big lie.

Send application link

SoNature:
And the looting spree continues....👌👌👌

You will complain for everything. Did you apply? Why not apply first

I didn't see where the federal government asked us to apply for the loan and they are distributing it now.

I need empowerment, I will be 40 years by next month and since I have been working, I have been underemployed. The little money I saved during Buhari tenure, it has been whipped off by present inflation.

Federal government should assist me, I want to start a business.

Account details:
FIRST BANK
3081728919
OR
ZENITH BANK
2650063901
Thank you.

Man know Man money

Shameless people!!!

thesicilian:
No smart person believes any of these lies anymore

In wike voice.... All na fake..
Fake fake fake

And the looting continues...those in charge will be salivating by now knowing that government lack the will and technology to monitor government programmes and activities

Time to Tiff

Another round of looting has began.

One party through its policies threw people into poverty and in turn came up with policies that will not better their lives....

The party that seems not to be improving the life of the people but just sustaining their ability to survive true pains

Nice one by the FG and current administration.

benuejosh:
He is not our President group of individuals too will be expecting it.

pls how does sharing palliative solve the economic challenges the country is facing?

how many Nigerians have so far received all the palliatives that they have been sharing?

Apc dn start again.. After one step forward,they'll take ten steps backward. #spit

Wait, who are the people collecting all this palliative stuff?

[only zombie will believe this]
https://punchng.com/breaking-fg-begins-disbursement-of-n200bn-palliative-loans/#google_vignette[/quote]

Thank God I got mine

lexy2014:


pls how does sharing palliative solve the economic challenges the country is facing?

how many Nigerians have so far received all the palliatives that they have been sharing?

in economics it is called stabilizers.