In keeping with its promise of supporting small businesses, the federal government on Tuesday commenced the disbursement of the N50,000 Presidential Conditional Grant Scheme, also known to nano businesses across the country.
The federal government had in December said it would empower nano businesses as part of the Presidential Palliatives Programme.
The Scheme offers financial grants, without repayment obligations, to eligible small business owners operating in various sectors, such as trading, food services, ICT, transportation, creative and artisans
Minister of Industry, Trade and Investment, Doris Uzoka-Anite, said that some beneficiaries have already received their grants, marking the beginning of the phased disbursement strategy.
The Minister added that other applicants that have been validated will receive their grants on Friday.
She said the disbursement process is continuous, and not every applicant will get their grant on this first scheduled date.
Uzoka-Anite stressed that all verified applicants will receive their grants in subsequent phases.
“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.
“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.
“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,” she said.
