FG To Commence Disbursement Of N125bn Grants To SMEs, Manufacturers

The federal government says it will soon commence disbursement of funds under its N125 billion Presidential Palliative Programme, targeted at reducing the impact of the removal of fuel subsidies.

FG To Commence Disbursement Of N125bn Grants To SMEs, Manufacturers

Doris Uzoka-Anite, the Minister for Industry, Trade and Investment, disclosed this in a statement on Sunday, noting that the programmes consisted of the Presidential Conditional Grant Programme and the Presidential Palliative Loan Programme.

He said:

“In the Presidential Conditional Grant Programme, the Federal Government will disburse N50,000 to nano businesses across the 774 local government areas.

“The Federal Government through the Federal Ministry of Industry, Trade and Investment and Small and Medium Enterprises Development Agency of Nigeria, will collaborate with state and local governments, federal legislators, federal ministers, banks and other stakeholders.

“Eligible nano business beneficiaries should be willing to provide proof of residential/business address in their local government area and provide relevant personal and bank account information, including Bank Verification Number for identity verification.”