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Loan And Grant

FG Begins Disbursement Of ₦‎200 Billion Palliative Loans to Beneficiaries

by myeduproject
written by myeduproject Published: Last Updated on

FG Begins Disbursement Of ₦‎200 Billion Palliative Loans to Beneficiaries

FG Begins Disbursement Of ₦‎200 Billion Palliative Loans to Beneficiaries: The Nigerian Government through the Ministry of Industry, Trade and Investment is currently disbursing the Presidential Conditional Grant Scheme to verified candidates after an meticulous selection procedure.

A total of N200billion will be disbursed through the Bank of Industry to support manufacturers and businesses across the country in three categories

The Minister of trade, Doris Aniete official kick started the process, said large numbers of beneficiaries have received their grant, she said by Friday, April 19, additional substantial disbursement will be made to a significant number of confirmed candidates.

According to Doris Aniete on X formerly known as Twetter, “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.”

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“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.”.

“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,”