The Federal Ministry of Industry, Trade and Investment has announced that the N50,000 grant program for nano businesses covering one million applicants across the country is still in progress, noting that it will be completed by end of this month.
Doris Uzoka-Anite, Minister in charge of the programme, made this disclosure in a frequently asked questions (FAQ) circular issued on Thursday on her official X (formerly Twitter) account.
According to Uzoka-Anite, the application for the scheme has ended and all remaining successful applicants will receive their alerts between now and the end of May.
Only one million applicants to receive the grants.
Furthermore, the Minister also explained that only one million from the over 3.6 million applicants will be eligible to receive the grants, adding that the scheme only covers such number of people.
She explained that the disbursements are not based on any specific criteria but rather follow the order in which applications are verified.
According to her, the objective is to distribute funds to an estimated 1,290 beneficiaries per local government area (LGA) across the country, aiming for a total of one million recipients.
In December 2023, the Federal Government unveiled the Presidential Conditional Grant Scheme (PCGS) as part of the Presidential Palliatives Programme aimed at supporting nano businesses.