The Federal Government through the Ministry of Industry, Trade and Investment has commenced disbursement of the Presidential Conditional Grant Scheme to verified applicants.
The trade minister Doris Anite, disclosed that some beneficiaries had received their grants, adding that another disbursement will be made to verified applicants by Friday, April 19.
The FG, although the Bank of Industry, had promised to disburse three categories of funding totalling ₦200bn to support manufacturers and businesses across the country.
While providing a progress report in her post, the minister said an unspecified number of beneficiaries have already received their grants.
According to her, 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.”
In 2023, after President Bola Tinubu announced the grant scheme, manufacturers and business owners were directed to submit their National Identification Numbers as part of the requirements to obtain the grant aimed at cushioning the adverse effects of the president’s economic reforms on businesses
Specify the people disbursed to. If not I hope this is not another audio disbursement? And what is the yardstick for selecting beneficiaries?