The Federal Government has commenced the disbursement process for the Presidential Conditional Grant scheme.
The scheme was launched last year as part of moves to combat economic hardship triggered by fuel subsidy removal in the country.
The scheme is targeted at nano businesses- enterprises with one or two workers and less than an annual turnover of N3 million. Each beneficiary is to get N50,000. The scheme is expected to reach one million small businesses in the 774 local government areas of the country and the six council areas in the Federal Capital Territory (FCT).
In a recent statement, the Federal Ministry of Industry, Trade, and Investment stated thus:
“We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme has officially commenced.”
“A number of beneficiaries have already received their grants, marking the beginning of our phased disbursement strategy. While some beneficiaries have gotten the grant, others would get theirs later”.
“In collaboration with telecommunications providers, we have successfully resolved the initial delays in sending out shortcodes for NIN verification and application continuation.”
“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.”