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FG Grant Payment to Continue this Week – Minister

FG Grant Payment to Continue this Week – Minister

The Federal Government of Nigeria proudly launches the MSME and Manufacturing segment of the Presidential 200 Billion Naira Fund. Application portal is: https://fedgrantandloan.gov.ng

With the applications for the Presidential Conditional Grant Scheme now closed, we are thrilled to start the loan disbursement for MSMEs and the manufacturing sector, aiming to boost economic growth and industrial development.

Fund Allocation:

  • 75 Billion Naira for MSMEs
  • 75 Billion Naira for Manufacturing

Initial disbursements to nano businesses have shown great success, supporting 1 million nano businesses across Nigeria. More beneficiaries will receive their grants this week.

Once the disbursement process is complete all beneficiaries will be listed on the fedgrantandloan.gov.ng website. The process is ongoing and so far only about 10% of the 1 million beneficiaries have been paid. More will be paid this week and in the weeks to come.

1 million beneficiaries will be paid across all the 774 local governments of the federation. This is roughly 1,290 people per local government. The process of disbursement is ongoing and a full list of beneficiaries will be published once complete.

More Info: Visit your local state Bank of Industry branch or find details in the attached PDF.

Loan Details:
MSMEs: Up to 1M Naira
Manufacturers: Up to 1 Billion Naira

Let’s strengthen our industries, create jobs, and drive national progress. Your business growth is vital to our nation’s future.

22nd April, 2024

 

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