The Federal Government has announced the commencement of the disbursement of the N50,000 Presidential Conditional Grant Scheme, also known as Trade Grants Scheme, to nano businesses nationwide.
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) defines nano firms as companies with one or two employees and less than N3 million in yearly revenue.
This revelation was made in a statement on Tuesday in Abuja by Doris Uzoka-Anite, the Minister of Industry, Trade, and Investment.
According to Uzoka-Anite, several beneficiaries have already received their grants, marking the beginning of the phased disbursement strategy.
The Minister also said that on Friday, 19th April 2024, a considerable number of validated applicants will receive significant grant amounts.
According to her, not every applicant will receive their money on the initial scheduled day because the payout procedure is ongoing.
All confirmed candidates will eventually receive their funds in later phases, according to Uzoka-Anite.
We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme has officially commenced. A number of beneficiaries have already received their grants, marking the beginning of our phased disbursement strategy.
“By Friday, 19th April 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.
“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,” she said.