As part of the Presidential Palliative Programme, the Federal Government of Nigeria has announced the kick-off of two programmes targeted at alleviating the impact of the fuel subsidy removal - the Presidential Conditional Grant Programme and the Presidential Palliative Loan Programme. This was revealed in a recent press release issued by the Honourable Minister for Industry, Trade and Investment, Dr Doris Uzoka-Anite, CFA.

In the Presidential Conditional Grant Programme, the Federal Government will disburse a grant sum of N50,000.00 (Fifty Thousand Naira) to nano businesses across the 774 local government areas in the country.

The Federal Government through the Federal Ministry of Industry, Trade and Investment and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) will collaborate with State and Local Governments, Federal Legislators, Federal Ministers, Banks and other Stakeholders.

According to the statement, eligible nano business beneficiaries should be willing to provide proof of residential/business address in their local government area, and
provide relevant personal and bank account information, including Bank Verification Number (BVN) for verification of identity.

For the Presidential Palliative Loan Programme, the Federal Government will likewise disburse N75 billion to Micro, Small and Medium-sized Enterprises (MSMEs) across various sectors and N75 billion specifically to Manufacturers. The loan shall be administered to the beneficiaries at a single-digit interest rate of 9% per annum.

While MSMEs can access loan facilities up to N1 million with a repayment period of three years, manufacturers can access up to N1 billion to access financing for working capital with a repayment period of 1 year for working capital or five years for the purchase of machinery and equipment.

MSMEs and manufacturers can apply for the loans by submitting their application on the portal provided for the programme. The facility would be accessed through their banks, and applicants would be required to meet the risk assessment criteria of their respective banks.

As part of its commitment to promote economic development, entrepreneurship and financial empowerment, the Federal Government believes these initiatives will encourage entrepreneurship and job creation.

Media source: https://www.vanguardngr.com/2023/12/subsidy-fg-to-begin-disbursement-of-presidential-grants-loans-to-businesses/

By the time Tinubu and Apc finish dealing with Nigerians, even agbadorians would wish for a military coup.

All this bùjẹ -bùdànù won't help us to develop and it's obvious BAT was overhyped. See how he is running a govt by dashing out random 50k that most undergraduates won't appreciate

With pride, right?

Lol.

Una papa preek.

Happy looting.

What jah cannot do exist in naija...

How will this help in this large scale hardship?

Oloshi ni awon people yi mehn

Real or audio??

Another spending spree

Sirheny007:
By the time Tinubu and Apc finish dealing with Nigerians, even agbadorians would wish for a military coup.

I dedicated story for the gods by Olamide to all Nigerians. Great jams

Let it be transparently done and to the needed people

It will be smeared with corruption in the disbursement.

NIGERIA!!!

You must upload your Apc membership card together with picture of you snatching, stealing, grabbing and running away with the ballot boxes.

I tire to talk about Nigeria matter.

*Sighs*

It don hit front page sharp sharp.

All this na still another scheme to siphon money, the people when really need am no go touch shinbang

Tinubu again.? Another audio payment. 50k to shut up . How did we get here? What kind of govt distribute money. Chai Tinubu

Look all they are asking for; for 50k grant, the people that really need it won't even get it.

Woow

We dey wait

Yeye Government of Promises. Tinubu is already 6 month into his tenure with nothing to show for it except hardship.
I stopped voting in 2015. They are all clueless Criminals

Fix the economy and stop sharing money. This money won’t get to those that need it.

The first palliative rice to cushion the effects of subsidy removal we never see. Na did one we go see?

Abeg wch kind business wey 50k wan support. Or 50k wan start up. Abi this one na Avenue to loot money

Audio 50k

When you begin to hear things like this, just know they're clueless and have no solution to the problem bedeviling the national.


God will punish all the bastards that supported and smuggled this vegetable into power.

Another sakamanje

Wuru wuru government, just increase minimum wage, and create sustainable jobs

Rubbish!!! You promised 35k monthly for federal workers, as at today only September you paid now you are promising another rubbish.
Don't belief a drug lord.

FG is scamming Nigerians again. Expect more.

The More Money or Grant whatsoever they call it
the More they give to people in name of palliatives, the more they will be killing the economy of the nation.
please how can a mere 50,000 set up business in Nigeria ?
at least if they use that money to set up a business that will keep these hands they are feeding with 50k busy, it will go a long way.

Examples, We have many who love farming and they dont have the means of setting it up
government can give out farm land to people who are interested and equipped them with machines like tractors to make farming easier.

At least if they employ 20 Million farmers in the nation, and ensure they are all actives, we will never need palliatives before we can eat in this country

Give Me 2 Acres of Land to cultivate Rice, give another Man 2 Acres of Land to cultivate Yam, and Another to cultivate Peanut, Tomatoes
Get rid of Fulani and Fix our Road for good transportation, it will save the country

But they won't just to favour Dangote