The Federal Government has officially commenced the disbursement of the N50,000 Presidential Conditional Grant Scheme, targeting nano businesses nationwide.
These nano businesses, characterized by one or two workers and less than N3 million annual turnover, are set to receive financial support as part of the Trade Grants Scheme, according to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
Minister of Industry, Trade and Investment, Doris Uzoka-Anite, confirmed the initiation of the disbursement process, stating that several beneficiaries have already received their grants.
However, she emphasized that the disbursement is ongoing and not all applicants will receive their grants on the first scheduled date. Uzoka-Anite assured that all verified applicants will eventually receive their grants in subsequent phases.
The Trade Grants Scheme requires applicants to link their National Identification Number (NIN) to their bank accounts to facilitate the receipt of grants, as announced by the Federal Government. The programme aims to empower nano businesses across various sectors, with a target of impacting communities nationwide.
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