The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite has said more Nigerians will benefit from the ongoing disbursement of N50,000 by the federal government.

TheNewsGuru.com (TNG) reports Dr Uzoka-Anite made this known on Monday while announcing that the loan disbursement for MSMEs and the manufacturing sector had commenced.

According to the Minister, the initial disbursements to nano businesses have shown great success, supporting 1 million nano businesses across Nigeria.

Confirming that application for the presidential conditional grant scheme is closed, Uzoka-Anite disclosed that disbursements are ongoing.

“More beneficiaries will receive their grants this week. The process is ongoing. Only 10% of the beneficiaries have been paid thus far. More disbursements will be made this week and in the weeks to come. A list of all beneficiaries will be published at the end of the process.

“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.

On the federal government’s presidential N200 billion fund for MSMEs and the manufacturing sector, Uzoka-Anite revealed that N75 billion had been set aside for MSMEs while another N75 billion for manufacturing.

[TNG]