The Federal Government’s initiative to support nano business owners with a ₦50,000 grant has begun disbursing funds to beneficiaries.
According to the Minister for Industry, Trade and Investment, Dr. Doris Uzoka-Anite, over 200,000 small business owners have already received their payments.
The minister confirmed that an additional 800,000 beneficiaries will receive their grants before the program closes on May 31, totaling 1,000,000 Nigerians across the 774 local government areas.
The selection process was random, with approximately 3.6 million applications received. The minister emphasized that ₦50 billion has been allocated in the 2024 budget for disbursement. This initiative aims to support small business owners and stimulate economic growth.
The grant program has generated significant interest, with many entrepreneurs expressing gratitude for the government’s support. The timely disbursement of funds is expected to have a positive impact on the economy, enabling small business owners to expand their operations and create jobs.
The Federal Government’s commitment to supporting small businesses is evident in this initiative.
By providing financial assistance to nano business owners, the government is fostering economic growth and development. As the program continues to roll out, it is expected to have a lasting impact on the lives of many Nigerians.
The minister’s announcement has brought hope to many small business owners who have been waiting for the grant. With the assurance that 800,000 more beneficiaries will receive their payments before May 31, the program is poised to make a significant difference in the lives of many entrepreneurs.
As the government continues to implement initiatives like this, the economy is likely to experience positive growth and development.
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