Nigerian govt disburses N27.2bn nano businesses in three months

The Nigerian federal government has disbursed the total sum of N27.2 billion from April and June 2024 of the N50 billion grants earmarked for nano businesses under the Presidential Conditional Grant Scheme.

This is according to the portal of the Presidential Conditional Grant Scheme as of June 30, 2024.

Accordingly, the portal showed that 545,830 individuals have benefited from the scheme amounting to a disbursement of N27.2 billion within the timeframe.

Recall that The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, had announced that four million Nigerians registered for the N50,000 palliative grant as of June, however only one million will benefit from the scheme.

“It’s important to note that almost 4 million Nigerians applied for the Palliative grant of 50k, but only 1 million beneficiaries can be accommodated. This means not all applicants will receive the grant”, she said.

She added that the grant payment is still ongoing.