The Minister of Industry, Trade and Investment, Doris Uzoka-Aniete has announced the disbursement process for the Presidential Conditional Grant Scheme to verified applicants.
The grant sum is N50,000.00 per beneficiary and it is designed to reach one million nano businesses in the 774 local government areas.
Uzoka-Aniete who made this known in a post via her official X handle on Tuesday, noted that an unspecified number of beneficiaries have received their grant after an exhaustive selection process, marking the beginning of the phased disbursement strategy.
The minister also stated that by Friday, April 19, another significant disbursement will be made to a substantial number of verified applicants.
The federal government, through the Bank of Industry, had said it would be disbursing three categories of funding totaling N200bn to support manufacturers and small businesses across the country.
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“We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Program 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.”
“We ask for your patience as we to process the applications with the utmost diligence and fairness. The phased disbursement plan has been designed to ensure that each application is given the consideration it deserves,” she wrote on X.
The program prioritizes women and youth at 70%, people with disabilities at 10%, senior citizens at 5%, with the remaining 15% open to other demographics.
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