FG Begins Disbursement To Msmes, Manufacturers.
Federal Government says it will commence the loan disbursement process for micro, small and medium enterprises and manufacturing sectors under the Presidential N200 billion Intervention Fund scheme.
This is coming after President Bola Tinubu launched the scheme on October 17, 2023, to cushion the effects of the removal of petrol subsidy and other strategic economic shocks.
Minister of Industry, Trade and Investment, Doris Uzoka-Anite, who disclosed this in a statement said, the decision was taken following the success of the ongoing disbursements targeted at supporting one million nano businesses across the country, while, N75 billion each has been allocated to support MSMEs and the manufacturing sector under the Presidential Intervention Fund.
He said, this is in addition to the N50 billion set aside to support the nano businesses, adding that, the fund is strategically divided, dedicating N75 billion to MSMEs and another N75 billion to the manufacturing sector.
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