The Federal Government has delayed the start of a N150 billion loan disbursement for manufacturers and MSMEs to September, as confirmed by the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, during a meeting in Calabar.
The event, hosted by Cross River State Governor Bassey Otu, allowed direct interaction between the government and beneficiaries of President Bola Tinubu’s economic empowerment programs.
Dr. Uzoka-Anite announced that 660,320 out of the targeted one million nano beneficiaries had already received disbursements across Nigeria’s 774 local governments.
She also revealed that over 700,000 applications were received for the upcoming loan disbursement, which will now commence next month.
The N150 billion initiative, part of a broader N200 billion Presidential Conditional Loans and Grant Scheme, is designed to support MSMEs and manufacturers, contributing to economic growth and employment across Nigeria.
Governor Otu praised the program, noting its positive impact on small businesses and individuals in Cross River State.