The Ministry of Industry, Trade, and Investment has announced the commencement of the disbursement of the Presidential Conditional Grant Scheme to verified applicants. This scheme, totaling N200 billion, aims to support manufacturers and businesses nationwide.
Under the supervision of the Bank of Industry, the government initiated the disbursement process, targeting three categories of funding to bolster various sectors of the economy. Providing an update on the progress, Minister of Industry, Trade, and Investment, Doris Anite, revealed that some beneficiaries have already received their grants. She further disclosed that another significant disbursement is scheduled for Friday, April 19, 2024.
Anite emphasized that the disbursements are ongoing and assured that all verified applicants will eventually receive their grants in subsequent phases. Recognizing the importance of these grants in sustaining livelihoods and businesses, she solicited patience from stakeholders, affirming the administration’s commitment to a transparent and efficient process.
Acknowledging initial delays in NIN verification and application continuation, Anite assured that these issues have been resolved in collaboration with telecommunications providers. She urged applicants to remain patient as the ministry processes applications diligently and fairly, ensuring each one receives due consideration.
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President Bola Tinubu initially announced the grant for manufacturers and small businesses, with applicants required to submit their National Identification Numbers (NIN) as part of the application process. The phased disbursement plan reflects the government’s dedication to supporting economic growth and prosperity for all citizens.
As the disbursement process unfolds, stakeholders are encouraged to stay updated for further developments, with the ministry expressing gratitude for their patience and understanding.
