The Federal Government of Nigeria has postponed the start of the N150 billion loan disbursement for manufacturers and micro, small, and medium enterprises to September.
The Minister of Industry, Trade, and Investment, Dr Doris Uzoka-Anite confirmed this during a meeting with beneficiaries of the presidential grant and prospective beneficiaries of the MSME Presidential Loan in at the invitation of the Cross River State Governor, Bassey Otu who offered a platform for direct interaction between the Federal Government and recipients of President Bola Tinubu’s economic empowerment initiatives.
In her address, the minister disclosed that 660,320 nano beneficiaries, representing over 60 per cent of the targeted one million had received disbursements across Nigeria’s 774 local governments.
She also announced that loan disbursements for manufacturers and MSMEs would commence next month (September) while highlighted that over 700,000 applications were received for this disbursement.
She said, “The Presidential Loans and Grant Scheme is not just about providing financial support; it is about restoring hope, rebuilding lives, and reaffirming our commitment to the social contract we hold with our people.
