{"id":27529,"date":"2024-04-16T15:23:47","date_gmt":"2024-04-16T15:23:47","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=27529"},"modified":"2024-04-16T15:23:47","modified_gmt":"2024-04-16T15:23:47","slug":"federal-govt-initiates-n200bn-palliative-loans-disbursement","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/04\/16\/federal-govt-initiates-n200bn-palliative-loans-disbursement\/","title":{"rendered":"Federal Gov\u2019t Initiates N200bn Palliative Loans Disbursement"},"content":{"rendered":"<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-mapmq-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-mapmq-1n7m0yu\">\n<div class=\"flex flex-col text-sm\">\n<div class=\"w-full text-token-text-primary\" dir=\"auto\" data-testid=\"conversation-turn-111\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 juice:gap-4 juice:md:gap-6 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem]\">\n<div class=\"relative flex w-full flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"dcaf90b2-ef63-4508-bad2-effe238ee394\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p>The Ministry of Industry, Trade, and Investment has kickstarted the distribution of a N200bn palliative loan scheme through the Presidential Conditional Grant Scheme. This move follows a meticulous selection process aimed at identifying eligible recipients, signaling a significant effort to bolster the economic landscape for manufacturers and businesses nationwide.<\/p>\n<p>Trade Minister Doris Aniete, in a recent update on her official X handle, announced that some beneficiaries have already received their funds. She further assured that more substantial disbursements are scheduled for Friday, April 19, as part of the program&#8217;s phased approach.<\/p>\n<p>The disbursement marks a crucial stride in fulfilling President Bola Tinubu\u2019s commitment to revitalizing the manufacturing sector and fostering job creation. Launched over eight months ago, the scheme aims to inject N75bn into 75 manufacturing enterprises by March 2024. Each enterprise is slated to receive up to N1bn in credit at a favorable 9% annual interest rate, with extended repayment terms.<\/p>\n<p>Despite its ambitious objectives, the program has encountered challenges, including a complex registration process and delays that have drawn criticism from potential beneficiaries. Femi Egbesola, President of the Association of Small Business Owners, voiced concerns about the slow pace of data collation by supervising agencies, suggesting obstacles for genuine businesses in accessing the loans.<\/p>\n<p>Nonetheless, the government remains steadfast in its commitment to mitigate the impact of recent economic reforms on businesses. It assures that all verified applicants will eventually benefit from the scheme in subsequent phases. As the disbursement progresses, stakeholders are optimistic for smoother execution, fostering sustainable economic growth and structural transformation in key sectors.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Industry, Trade, and Investment has kickstarted the distribution of a N200bn palliative loan scheme through the Presidential Conditional Grant Scheme. This move follows a meticulous selection process aimed at identifying eligible recipients, signaling a significant effort to bolster the economic landscape for manufacturers and businesses nationwide. Trade Minister Doris Aniete, in a [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":27530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-27529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=27529"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27529\/revisions"}],"predecessor-version":[{"id":27542,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27529\/revisions\/27542"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/27530"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=27529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=27529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=27529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}