The Nigerian government has introduced two pivotal initiatives: the Presidential Conditional Grant Programme and the Presidential Palliative Loan Programme.
Under the auspices of the Federal Ministry of Industry, Trade, and Investment, the measures are designed to mitigate the impact of the recent removal of fuel subsidies and bolster economic stability.
Nano businesses are set to benefit from a substantial N50,000 grant, while Micro, Small, and Medium Enterprises (MSMEs) and manufacturers can access loans ranging from N1 million to a significant N1 billion, respectively.
The government announced that for more information and eligibility criteria, eligible applicants should visit http://fedgrantandloan.gov.ng.
”These initiatives aim to stimulate economic growth and empowerment across various sectors, supporting businesses affected by recent policy changes,” the ministry said in a statement.
The statement added that the initiative is a brainchild of the Renewed Hope Agenda of the Bola Tinubu-led administration.
