The Federal Government has begun disbursement of the N200bn Presidential Conditional Grant Scheme to verified applicants.
The Minister of Industry, Trade and Investment, Doris Uzoka-Aniete, made this known in a post via her official X handle on Tuesday.
Recall that the federal government, through the Bank of Industry, had said it would be disbursing three categories of funding totalling N200bn to support manufacturers and businesses across the country.
In a progress report, Aniete stated that an unspecified number of beneficiaries have received their grants after an exhaustive selection process, marking the beginning of the phased disbursement strategy.
The minister added that by Friday, April 19, another significant disbursement will be made to a substantial number of verified applicants.
She wrote, “We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme 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.”
Recall that in 2023, President Tinubu announced the grant for manufacturers and small business owners, saying that he was determined to strengthen the manufacturing sector, increase its capacity to expand, and create good-paying jobs.
Two weeks after the announcement, applicants were directed to submit their National Identification Numbers (NIN) 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.
