BOI disburses over N37.8bn in trade grant scheme
The Bank of Industry has disclosed that it has distributed more than N37.8 billion through the Trade Grant Scheme, also known as the Presidential Conditional Grant Scheme.
According to Nairametrics, 774,593 individuals and businesses have benefited from the Presidential Conditional Grant Scheme.
This initiative is designed to assist nano businesses and aims to reach 1 million beneficiaries, with each recipient receiving N50,000.
The Ministry of Industry, Trade and Investment administers the scheme, with the Bank of Industry overseeing its implementation.
In a statement, the Bank stated that the disbursement for the Presidential Conditional Grant Scheme (PCGS) is ongoing, providing support to nano businesses throughout Nigeria to expand their operations.
The nano businesses targeted under the scheme include traders, transportation, food services, ICT, creatives, and artisans.
The Presidential Conditional Grant Scheme is part of the Presidential Palliatives Programme, which is intended to aid small businesses in the wake of the subsidy removal.
Announced in December 2023, the federal government commenced the distribution of funds to beneficiaries in April 2024.
Leave A Comment