The Federal Government has announced the commencement of the disbursement of the N50,000 Presidential Conditional Grant Scheme, also known as Trade Grants Scheme, to nano businesses nationwide.
Nano businesses are enterprises that have one or two workers and less than annual turnover of N3 million, according to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
Minister of Industry, Trade and Investment, Doris Uzoka-Anite, made this disclosure in a statement on Tuesday in Abuja.
According to Uzoka-Anite, several beneficiaries have already received their grants, marking the beginning of the phased disbursement strategy.
The Minister also said that on Friday, 19th April 2024, a considerable number of validated applicants will receive significant grant amounts.
She said the disbursement process is continuous, and not every applicant will get their grant on this first scheduled date.
Meanwhile, Uzoka-Anite said that all verified applicants will eventually receive their grants in subsequent phases.
Earlier in December 2023, the Federal Government announced the Presidential Conditional Grant Scheme (PCGS) to empower nano businesses as part of the Presidential Palliatives Programme.
