By Victoria Ojeme

The Federal Government has disbursed funds to over 660,000 beneficiaries under its Presidential Grant and MSME Presidential Loan initiatives aimed at supporting small and medium enterprises across the country.

The Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, disclosed this during an interactive session today in Calabar with beneficiaries of the scheme and other stakeholders.

The event, hosted in collaboration with the Cross River State Governor, Prince Bassey Edet Otu, was part of efforts to bridge communication between the Federal Government and local communities on President Bola Ahmed Tinubu’s economic empowerment programmes.

“To date, 660,320 nano beneficiaries, representing over 60% of the targeted 1 million, have received disbursements across Nigeria’s 774 local government areas,” the Minister said.

She further announced that loan disbursements for manufacturers and MSMEs will commence next month following the verification of over 700,000 applications.

“The Presidential Loans and Grant Scheme is not just about providing financial support; it is about restoring hope, rebuilding lives, and reaffirming our commitment to the social contract we hold with our people. The impact of this initiative is already being felt, and we are committed to ensuring it reaches every corner of this great nation,” Dr. Uzoka-Anite stated.

The Minister said the Federal Government was dedicated to transparency and accountability in the administration of these initiatives.

She called on community leaders and civil society organizations to play a proactive role in monitoring the programme’s implementation to ensure fairness and efficiency.

Earlier, Governor Bassey Edet Otu, said “The Presidential Conditional Grant has been a lifeline for many of our citizens.”

“We’ve seen small businesses flourish and individuals regain their economic footing. This program is truly transforming lives in Cross River State.”