FG Begins Payment of N50,000 Presidential Grant for Nano Businesses

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The Federal Government have revealed that persons who applied for the N50,000 Presidential Conditional Grant Scheme, also known as Trade Grants Scheme, would start receiving the payment of the grant.

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Nano businesses are enterprises that have one or two workers and less than annual turnover of N3 million, according to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

Minister of Industry, Trade and Investment, Doris Uzoka-Anite, made this disclosure in a statement on Tuesday in Abuja.

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According to Uzoka-Anite, several beneficiaries have already received their grants, marking the beginning of the phased disbursement strategy.

The Minister also said that on Friday, 19th April 2024, a considerable number of validated applicants will receive significant grant amounts.

She said the disbursement process is continuous, and not every applicant will get their grant on this first scheduled date.

Meanwhile, Uzoka-Anite said that all verified applicants will eventually receive their grants in subsequent phases.

“We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme has officially commenced. A number of 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.

“We ask for your patience as we continue to process the applications with the utmost diligence and fairness.

“The phased disbursement plan has been designed to ensure that each application is given the consideration it deserves,” she said.

Source: ChannelsTV