The Federal Government is set to commence the disbursement of N150 billion soft loans to micro, small and medium enterprises and manufacturers by the end of July.
Uzoka-Anite said that 60 percent of the proposed one million beneficiaries of the Presidential Conditional Grant had received a financial grant of N50,000 without repayment obligations in the 774 local government areas of the country. “We are also at the final stages of vetting for the MSME and Manufacturing loans. Applications remain open, and disbursement will begin by July ending.”
Under the loan scheme, manufacturers can access up to N1 billion, at a single-digit interest rate of nine per cent per annum, for working capital with a repayment period of one year to five years for the purchase of machinery and equipment.
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