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The Federal Government has postponed the start of the N150bn loan disbursement for manufacturers and micro, small, and medium enterprises to September.
The Minister of Industry, Trade, and Investment, Doris Nkiruka Uzoka-Anite, confirmed this during a meeting in Calabar, Cross Rivers State.
The event provided a platform for direct interaction between the Federal Government and recipients of President Bola Tinubu's economic empowerment initiatives.
The minister disclosed that over 60% of the targeted one million nano beneficiaries had received disbursements across Nigeria's 774 local governments, and loan disbursements for manufacturers and MSMEs are set to commence next month.
She also stated that loan disbursements for manufacturers and MSMEs would begin next month (September).
The minister emphasised that over 700,000 applications were received for this disbursement.
Uzoka-Anite said, “The impact of this initiative is already being felt, and we are committed to ensuring it reaches every corner of this great nation. 660,320 nano beneficiaries, representing over 60 per cent of the targeted one million, have received disbursements across Nigeria's 774 local governments.
“Loan disbursements for manufacturers and MSMEs are set to commence by next month, following the verification of over 700,000 applications received.
“The Presidential Conditional Grant has been a lifeline for many citizens, with small businesses flourishing and individuals regaining their economic footing.
“This programme is truly transforming lives in Cross River State. The Presidential Conditional Loans and Grant Scheme is a N200bn initiative divided into N125bn for MSMEs and N75bn for manufacturers, with funds allocated to support growth, employment, and the overall prosperity of Nigeria."
