The Federal Government has started the disbursement process for the Presidential Conditional Grant Scheme, (PCGS) says a statement from the Federal Ministry of Industry, Trade and Investment.
The grant sum is N50,000.00 per beneficiary, and it is designed to reach one million nano businesses in the 774 local government areas.
The Federal Government will collaborate with the State Governments, Honourable Ministers, Nigerian Association of Small and Medium Enterprises (NASMEs), Senators, and House of Representative Members, who will use the Federal Government’s selection criteria to shortlist the beneficiaries from their constituents, according to statement on the website of the PCGS.
The target beneficiaries are 70% women and youth, 10% people with disabilities, and 5% senior citizens, while the remaining 15% is distributed to other demographics.
“We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme has officially commenced,” a statement from the Federal Ministry of Trade and Industry read.
“A number of beneficiaries have already received their grants, marking the beginning of our phased disbursement strategy.”
It said while some beneficiaries have gotten the grant, others would get theirs later.
“In collaboration with telecommunications providers, we have successfully resolved the initial delays in sending out shortcodes for NIN verification and application continuation,” the ministry added.
“By Friday, 19th April 2024, a significant disbursement will be made to a substantial number of verified applicants. It is essential to understand that disbursements are ongoing, and not all applicants will receive their grants on this initial date.”
The Federal Government launched the scheme last year as part of moves to combat economic hardship owing to the fuel subsidy removal in the country.
