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FG Begins Disbursement Of N50k Trade Grant To Nigeria’s Nano Businesses

FG Begins Disbursement Of N50k Trade Grant To Nigeria’s Nano Businesses
The Federal Government of Nigeria has launched the Presidential Conditional Grant Scheme, also known as the Trade Grants Scheme, which will provide N50,000 to nano businesses across the country.

Gatekeepers News reports that Nano businesses are small enterprises with one or two workers and less than N3 million in annual turnover, as defined by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, announced that the grants have already been disbursed to several beneficiaries, with a phased disbursement strategy in place.

Notably, a significant number of validated applicants will receive considerable grant amounts on Friday, 19th April 2024.

She said the disbursement process is continuous, and not every applicant will get their grant on this first scheduled date.

Meanwhile, Uzoka-Anite said that all verified applicants will eventually 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.

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