Business

FG Set To Disburse N200Bn Intervention Fund For MSMEs, Manufacturing Sector

By Sunday Etuka, Abuja

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The Federal Government of Nigeria has announced the operational launch of the Micro, Small and Medium Enterprises (MSMEs) and Manufacturing segment under the Presidential N200Billion Intervention Fund.

Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, who announced the development on Monday, also disclosed that applications for the Presidential Conditional Grant Scheme have been closed.

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She said: “With applications for the Presidential Conditional Grant Scheme now closed, we are excited to move forward with the loan disbursement process for the MSME and Manufacturing sectors, aimed at boosting economic growth and industrial development”.

Dr. Uzoka-Anite explained that “this fund is strategically divided, dedicating 75 Billion Naira to MSMEs and another 75 Billion to the manufacturing sector.

“We are pleased to report that the initial disbursement to nano businesses has been met with success, and we are well on our way to supporting 1 million nano businesses throughout the country.

“Thousands of beneficiaries have already confirmed receipt with many more to come. We invite eligible enterprises to join this transformative initiative. To apply, please visit our official application portal.

“Additionally, applicants seeking more detailed information should visit their local state Bank of Industry branch”, She said.

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