FG Postpones N150bn Loan Disbursement for Manufacturers to September 

Dr. Doris Uzoka-Anite

The Federal Government has postponed the start of the N150 billion loan disbursement for manufacturers and micro, small, and medium enterprises (MSMEs) to September. This update was confirmed by the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, during a meeting in Calabar, Cross River State, with current and potential beneficiaries of the MSME Presidential Loan. 

Meeting Highlights 

The event, organized by the Cross River State Governor, Bassey Otu, provided an opportunity for direct communication between the Federal Government and the recipients of President Bola Tinubu’s economic empowerment programs. Dr. Uzoka-Anite shared those 660,320 individuals, representing over 60% of the targeted one million, have already received their disbursements across Nigeria’s 774 local governments. She also announced that the loan disbursements for manufacturers and MSMEs will now begin in September after verifying over 700,000 applications. 

Focus on Economic Empowerment 

The minister emphasized that the Presidential Loans and Grant Scheme is more than just financial support. She said, “This initiative is about restoring hope, rebuilding lives, and showing our commitment to our people. The positive impact is already evident, and we are determined to extend it to every part of the country. Governor Otu praised the Federal Government’s efforts, noting the positive effects in Cross River State. “The Presidential Conditional Grant has been a lifeline for many. We’ve seen small businesses grow, and people regain their economic stability. This program is truly changing lives in our state,” he said. 

The Presidential Loans and Grant Scheme is not just about providing financial support; it is about restoring hope, rebuilding lives, and reaffirming our commitment to the social contract we hold with our people.” — Dr. Doris Uzoka-Anite, Minister of Industry, Trade, and Investment. 

In conclusion, the Federal Government’s commitment to economic empowerment through the Presidential Loans and Grant Scheme is a significant step towards revitalizing Nigeria’s economy. With the upcoming loan disbursements for manufacturers and MSMEs, many more businesses across the country will have the opportunity to grow, create jobs, and contribute to national prosperity. As the initiative continues to roll out, its positive impact on the lives of Nigerians is set to expand, fostering economic stability and growth in every corner of the nation.