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FG invites Nigerians to apply for N50,000 cash grant, shares application link

Posted on by darion

  • The federal government is inviting Nigerians to apply for business loans as it prepares to start disbursing funds
  • The government said nearly four million Nigerians have applied for the N50,000 grant but only one million will benefit
  • An update was also provided regarding the Presidential Conditional Grant Program and how applicants can track disbursement status

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism and has in-depth knowledge of the Nigerian economy, stocks and overall market trends.

Doris Uzoka-Anite, Nigeria’s Minister of Industry, Trade and Investment, has announced that the Federal Government will begin disbursing N150 billion in loans to Micro, Small and Medium Enterprises (SMEs) by the end of July 2024.

The Minister announced this in a post on the X portal (formerly Twitter) on Thursday, June 27, 2024.

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Difficulties: “Urgent prevention” – Shehu Sani reacts when Tinubu approves a grant of PLN 50,000. N for Nigerian families

Nigerian government plans to provide more loans
FG says at least 600,000 Nigerians have received N50,000 under the Presidential Conditional Grant. Photo source: Presidency
Source: Facebook

FG pays out funds to SMEs

She also revealed that Nigerians still have the opportunity to apply for the Presidential Conditional Grants Program.

According to her, the federal government has already disbursed 60% of the expected million beneficiaries in 774 local government areas in Nigeria with no repayment obligations.

The minister stated.

“The process of disbursement of funds is ongoing. We have already allocated about 60% of the 1 million grants.

“Applicants can track the disbursement status for specific local government areas at grant.fedgrantandloan.gov.ng/learn-more/dis.

In its statement, it admitted that there had been issues with delayed payouts, such as incorrect data submissions, duplicate applications and false entries, which had slowed down the process.

However, the Minister assured that work is underway to quickly resolve the problems.

According to Punch, Uzoka-Anite stressed that the government attaches great importance to the fairness and accuracy of the disbursement process.

Read also

World SME Day: Niger Delta governments urged to embrace digital economy and support small businesses

How to apply for the N50,000 grant

The Minister also asked Nigerians interested in the Presidential Conditional Grant Program to visit grant.fedgrantandloan.gov.ng.

She stated:

“As we prepare to launch loans to SMEs and the manufacturing sector by the end of July, applications remain open. We encourage all eligible businesses to apply.”

Businessman gives away free rice

In a similar story, Legit.ng reported that a wealthy businessman identified on Instagram as Blord brought smiles to the faces of his city’s residents during the Christmas holidays.

In a popular video, Blord can be seen opening the gate of his home to allow poor people to enter and collect food.

Blord reportedly shared 1,200 bags of rice and four cows with the people, and they hailed him as a hero.

Proofreading by James Ojo Adakole, journalist and editor at Legit.ng.

Source: Legit.ng