The Federal Government has started giving out the N200 billion Presidential Conditional Grant Scheme to those who have been verified.
The Bank of Industry announced that it would be providing three types of funding to help manufacturers and businesses nationwide.
In an update shared on X (formerly Twitter) on Tuesday, Minister of Industry, Trade and Investment, Doris Anite, revealed that some recipients had already received their grants. She mentioned that another round of disbursement would happen by Friday, April 19.
Anite explained, “We are happy to announce that the disbursement process for the Presidential Conditional Grant Programme has begun. Some individuals have already received their grants, which marks the start of our phased disbursement approach.
“By Friday, April 19, 2024, a significant number of verified applicants will receive their grants. Please note that not all applicants will receive their grants on this initial date, as disbursements are ongoing. However, rest assured that all verified applicants will eventually receive their grants in subsequent phases.”
Asking for understanding from stakeholders, Anite continued, “The President Bola Tinubu Administration recognizes the importance of these grants in supporting the livelihoods and businesses of our citizens. We are committed to ensuring a smooth and transparent process. Thanks to collaboration with telecom providers, we have resolved initial delays in sending out shortcodes for NIN verification and application continuation.
“We request your patience as we diligently process the applications. The phased disbursement plan ensures that each application receives the attention it deserves.
“Stay tuned for more updates, and we sincerely appreciate your patience and cooperation throughout this process. Your contribution to the economic growth of our nation is invaluable, and we look forward to achieving more together,” concluded the statement.
President Bola Tinubu had previously announced the grant as part of his efforts to bolster the manufacturing sector, enhance its capacity to grow, and create well-paying jobs.