Following President Bola Tinubu’s promise to strengthen the manufacturing sector, the Nigeria Government has begun disbursement of N200 billion Presidential Conditional Grant Scheme to verified applicants.
The Bank of Industry had earlier stated that the distribution of funds to support manufacturers and businesses across the country would be in three categories.
The Minister of Industry, Trade and investment Doris Anite while giving a progress report on X on Tuesday, revealed that some beneficiaries had received their grants, adding that another disbursement will be given to verified applicants by Friday, April 19.
In her words: “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, April 19, 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.”
The Minister pleaded with stakeholders to exercise patience while the application is being considered with all fairness.
According to her statement, “President Bola Tinubu Administration understands the importance of these grants in supporting the livelihoods and businesses of our citizens, and this is why we are committed to ensuring a smooth and transparent process. In collaboration with telecommunications providers, we have successfully resolved the initial delays in sending out shortcodes for NIN verification and application continuation.
“We ask for your patience as we continue to process the applications with the utmost diligence and fairness. The phased disbursement plan has been designed to ensure that each application is given the consideration it deserves.
“Stay tuned for further updates, and we sincerely thank you for your patience and understanding throughout this process. Your contribution to the economic growth of our nation is invaluable, and we look forward to achieving more together.”
President Bola Tinubu while given an address had earlier announced the grant. He explained his tenacity to strengthen the manufacturing sector, boost its capacity to expand, and create good-paying jobs.
Applicants were given a directory to submit their NIN after two weeks as part of the requirements to obtain the grant allocated to bolster the negative effect of economic downturn on businesses in the country.
