The Federal Government has delayed the start of its N150 billion loan disbursement for manufacturers and MSMEs until September, according to the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite.
She made this announcement during a meeting in Calabar, Cross River State, with beneficiaries of the Presidential Grant and prospective recipients of the MSME Presidential Loan.
Hosted by Cross River State Governor Prince Bassey Edet Otu, the event enabled direct dialogue between the Federal Government and those benefiting from President Bola Ahmed Tinubu’s economic empowerment initiatives.
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Dr. Uzoka-Anite revealed that 660,320 nano beneficiaries, representing over 60% of the targeted 1 million, have already received disbursements across Nigeria’s 774 local governments. She confirmed that over 700,000 applications have been received, and the loan disbursements for manufacturers and MSMEs will begin next month.
Highlighting the significance of the Presidential Loans and Grant Scheme, Dr. Uzoka-Anite emphasized the government’s dedication to transparency and urged community leaders to help monitor these programs. Governor Otu praised the initiative’s positive impact on Cross River State, noting its role in revitalizing small businesses.
The N200 billion scheme is designed to foster growth, employment, and prosperity nationwide.
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