The Bank of Industry (BOI) has confirmed the disbursement of more than N37.8 billion through the Presidential Conditional Grant Scheme, also known as the Trade Grant Scheme.
In a circular released on Sunday, BOI disclosed that a total of 774,593 individuals and businesses have benefited from the scheme so far. The initiative is designed to support nano businesses, with the aim of reaching 1 million beneficiaries, each receiving N50,000.
Administered under the Ministry of Industry, Trade and Investment, the Bank of Industry oversees the facilitation of the scheme. “The disbursement for the Presidential Conditional Grant Scheme (PCGS) is underway, empowering nano businesses across Nigeria to scale their businesses,” the Bank stated.
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Businesses Targeted Under the Scheme
The scheme targets various categories of nano businesses, including:
Traders: Single retail marketers, corner shop owners, petty traders, and market vendors.
Food Services: Food and vegetable vendors.
ICT: Business centre operators, battery chargers, recharge card vendors, and call centre agents.
Transportation: Wheelbarrow pushers and independent dispatch riders.
Creatives: Makeup artists, fashion designers, and dry cleaners.
Artisans: Vulcanizers, shoemakers, painters, and repairers.
The initiative continues to provide critical financial support to the smallest enterprises, promoting economic resilience and growth across Nigeria.
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