Federal Government Initiates Disbursement of N200 Billion Presidential Conditional Grant Scheme
The disbursement of the N200 billion Presidential Conditional Grant Scheme has officially commenced, with verified applicants beginning to receive funds. The Bank of Industry (BoI) is overseeing the distribution of three categories of funding aimed at supporting manufacturers and businesses nationwide.
Progress Update from the Minister
Doris Anite, the Minister of Industry, Trade and Investment, provided a progress report via X (formerly Twitter), indicating that some beneficiaries have already received their grants. She further disclosed that another round of disbursement is scheduled to take place by Friday, April 19, 2024.
Phased Disbursement Strategy
Anite clarified that the disbursement process is being carried out in phases. While a significant number of verified applicants will receive grants by April 19, not all applicants will be included in this initial round. However, all verified applicants will eventually receive their grants in subsequent phases.
Appeal for Patience
Anite emphasized the government’s commitment to a smooth and transparent process, soliciting patience from stakeholders. She assured that each application is being diligently reviewed and urged applicants to await further updates as the process unfolds.
Government’s Commitment to Economic Growth
President Bola Tinubu had previously announced the grant as part of efforts to strengthen the manufacturing sector and create employment opportunities. The grant aims to mitigate the impact of recent economic reforms on businesses in the country.
Conclusion
The phased disbursement plan underscores the government’s dedication to supporting businesses and livelihoods across Nigeria. As the process continues, stakeholders are encouraged to stay informed and patient, with the assurance that every application will be given due consideration.
Source: Punch