FG Begins Disbursement Of N200bn Palliative Loans.

Ministry of Industry, Trade and Investment says it has begun disbursement of the Presidential Conditional Grant Scheme to verified applicants after an exhaustive selection process.

The government, through the Bank of Industry, had said it would be disbursing three categories of funding totaling N200bn to support manufacturers and businesses across the country.

In a progress report posted on the trade minister’s official X handle, Doris Anietesaid, an unspecified number of beneficiaries have received their grants, adding that by Friday, April 19, another significant disbursement will be made to a substantial number of verified applicants.

This is coming more than eight months after President Bola Tinubu announced the grant for manufacturers and small businesses and two weeks after applicants were directed to submit their National Identification Numbers as part of the requirements to obtain the grant earmarked to cushion the effect that recent economic reforms have had on businesses in the country, while, the president said he was determined to strengthen the manufacturing sector, increase its capacity to expand, and create good-paying jobs.0:00

In the address, the president said he was determined to strengthen the manufacturing sector, increase its capacity to expand, and create good-paying jobs.