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The Federal Government has announced the launch of the MSME and manufacturing segment of the Presidential ₦200 Intervention Fund.
Doris Aniete, the Minister of Industry, Trade and Investment announced the development on Monday, April 22, 2024, via her official X handle.
According to her, the FG has dedicated ₦75bn for micro, small, and medium enterprises and another ₦75bn for manufacturers to “boost economic growth and industrial development.”
She tweeted, “The Federal Government of Nigeria is proud to announce the operational launch of the MSME and Manufacturing segment under the prestigious Presidential 200 Billion Naira Intervention Fund.
“With applications for the Presidential Conditional Grant Scheme now closed, we are excited to move forward with the loan disbursement process for the MSMEs and manufacturing sectors, aimed at boosting economic growth and industrial development.
“This fund is strategically divided, dedicating N75 Billion to MSMEs and another N75 Billion to the manufacturing sector."
This is coming barely a week after the government commenced the disbursement process for the Presidential Conditional Grant Scheme to nano businesses.
Aniete said the FG through the scheme supported one million nano businesses across the country, adding that the programme recorded ‘great success.’
She, therefore, urged Nigerians to take advantage of the FG’s intervention fund scheme, adding that “more beneficiaries will receive their grants this week.”
How to apply
- Log onto https://loan.fedgrantandloan.gov.ng/
- Create an Account by signing up with your basic details.
- Provide your business information
- Provide the necessary documents about your business
- Provide information about what the loan will help your business with.
The disbursement of the loan will be handled by your bank if you meet the eligibility criteria.