FG shifts N150bn loan disbursement to Sept

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The Federal Government has announced a shift in the start of the N150 billion loan disbursement for manufacturers and micro, small, and medium enterprises (MSMEs) to September, according to the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite.

Speaking at a meeting with beneficiaries of the presidential grant and prospective beneficiaries of the MSME Presidential Loan in Calabar, Cross Rivers State, on Sunday, the minister confirmed the new timeline.

The event, hosted by Cross River State Governor Bassey Otu, provided a platform for direct interaction between the Federal Government and recipients of President Bola Tinubu’s economic empowerment initiatives.

Dr. Uzoka-Anite disclosed that 660,320 nano beneficiaries, representing over 60% of the targeted one million, had received disbursements across Nigeria’s 774 local governments. She also announced that loan disbursements for manufacturers and MSMEs would commence in September, following the verification of over 700,000 applications received.

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The minister emphasized that the Presidential Loans and Grant Scheme aims to restore hope, rebuild lives, and reaffirm the government’s commitment to the social contract with the people. She expressed commitment to ensuring the initiative reaches every corner of the nation.

She said, “The Presidential Loans and Grant Scheme is not just about providing financial support; it is about restoring hope, rebuilding lives, and reaffirming our commitment to the social contract we hold with our people.

“The impact of this initiative is already being felt, and we are committed to ensuring it reaches every corner of this great nation.

“On the progress of the Presidential Loans and Grant Scheme, 660,320 nano beneficiaries, representing over 60 per cent of the targeted one million, have received disbursements across Nigeria’s 774 local governments.

“Also, loan disbursements for manufacturers and MSMEs are set to commence by next month, following the verification of over 700,000 applications received.”

Tags: Loan, Nigeria, federal government, MSMEs, Business, Bola tinubu, Doris Anite, grants, Minister of Industry, Trade, and Investment