“60% of Presidential Grant Applicants Have Receive Funds, Disbursement Ongoing” – Minister Uzoka-Anite

In a recent update, the Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, announced that 60% of the applicants for the Presidential Conditional Grant Scheme (PCGS) have received their N50,000 grants. The announcement was made via her official X account on Thursday.

Out of nearly four million applicants, only one million beneficiaries are eligible for the grant. The selection process employs random computer-generated numbers to ensure equal opportunity for all applicants.

“The disbursement process continues, and we have successfully allocated funds to 60% of the recipients. The progress can be tracked by local government area on our official website,” stated Mrs. Uzoka-Anite.

She acknowledged that delays in disbursing the grants were due to issues such as incorrect data and duplicate applications, emphasizing the need for thorough validation to maintain fairness.

“Our teams have worked tirelessly to ensure accuracy and fairness in the process. Despite the delays, we prioritize precision to give every applicant a fair chance. Testimonies are already being shared, highlighting the positive impact of the grants,” she added.

Additionally, Mrs. Uzoka-Anite mentioned that the final vetting stages for MSME and manufacturing loans are underway, with disbursements expected to start by the end of July.

The PCGS aims to alleviate economic hardship by providing a one-time N50,000 grant to small businesses across Nigeria’s 774 local government areas. Target sectors include traders, food services, ICT, transportation, and artisans.

Eligible applicants must operate a small business with growth potential and be willing to hire additional staff if revenue increases. Proof of residence, business location, and bank verification details are also required.