Nigerians excited as FG begins disbursement of N200 billion presidential palliative loan

The Federal Government has started distributing the N200 billion Presidential Conditional Grant Scheme to applicants who have been verified.

The initiative by President Bola Tinubu’s administration aims to provide financial support to eligible individuals and empower them to pursue their goals and aspirations.

The Bank of Industry had said it would be disbursing three categories of funding to support manufacturers and businesses across the country.

In an update shared on X (formerly Twitter) on Tuesday, Doris Anite, the Minister of Industry, Trade and Investment, provided a progress report regarding the disbursement of grants.

She revealed that some beneficiaries have already received their grants.

Furthermore, she mentioned that another round of disbursement will take place by Friday, April 19, benefiting more verified applicants.

She said, “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, April 19, 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.”

Soliciting patience from stakeholders, Anite added, “The President Bola Tinubu Administration understands the importance of these grants in supporting the livelihoods and businesses of our citizens, and this is why we are committed to ensuring a smooth and transparent process. In collaboration with telecommunications providers, we have successfully resolved the initial delays in sending out shortcodes for NIN verification and application continuation.

“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.

“Stay tuned for further updates, and we sincerely thank you for your patience and understanding throughout this process. Your contribution to the economic growth of our nation is invaluable, and we look forward to achieving more together,” the statement concluded.