BREAKING: TINUBU GOVERNMENT STARTS DISBURSEMENT OF N200 BILLION GRANTS.

Baatunji Wusu –

The Bola Tinubu-led Federal Government has commenced disbursing the N200 billion Presidential Conditional Grant Scheme to verified applicants.
Doris Uzoka-Aniete, Minister of Industry, Trade and Investment, announced this in a post on her official X handle on Tuesday.

Recall that the federal government, through the Bank of Industry, announced three categories of funding totaling N200 billion to boost manufacturers and enterprises across the country.

In a progress report, Aniete reported that an undefined number of applicants had received their awards following an intensive selection process, indicating the start of the phased payment plan.

The minister further stated that on Friday, April 19, another sizable disbursement will be given to a large number of verified applicants.

She wrote, “We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme has officially commenced. Some 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.”

Recall that in 2023, President Tinubu announced the grant for manufacturers and small business owners, saying that he was determined to strengthen the manufacturing sector, increase its capacity to expand, and create good-paying jobs.

Two weeks after the announcement, applicants were directed to submit their National Identification Numbers (NIN) as part of the requirements to obtain the grant earmarked to cushion the effect that recent economic reforms have had on businesses in the country.