Tinubu’s government begins disbursement of N200bn loan to businesses and manufacturers in Nigeria

Recall that the goverment had introduced the graduation of the disbursement of the N50,000 Presidential Conditional Grant Scheme, often known as Commerce Grants Scheme, to nano companies nationwide

Nano companies are enterprises which have one or two staff and fewer than annual turnover of N3 million, in accordance with the Small and Medium Enterprises Growth Company of Nigeria (SMEDAN).

Minister of Trade, Commerce and Funding, Doris Uzoka-Anite, has made this disclosure in a press release on Tuesday in Abuja.

In December 2023, she introduced the Presidential Conditional Grant Scheme (PCGS) to empower nano companies as a part of the Presidential Palliatives Programme.

The Commerce Grant Scheme, which initially was to take off on March 9, 2024, affords monetary grants, with out reimbursement obligations, to eligible small enterprise homeowners working in varied sectors, resembling buying and selling, meals companies, ICT, transportation, artistic and artisans.

The PCGS targets 70% girls and youths, 10% individuals with disabilities, and 5% senior residents, with the remaining 15% distributed to different demographics.