Federal Government Disburses Over N1.2 Billion to Delta State Beneficiaries

• The Federal Government has disbursed over N1.2 billion to 24,104 beneficiaries of its grants and loan scheme in Delta State
• Isioma Okonta, the State Focal Person, confirmed the disbursement, noting the significant impact on the local economy
• Governor Sheriff Oborevwori praised the initiative and urged beneficiaries to effectively utilize the funds to grow their businesses

The Federal Government has disbursed over N1.2 billion to 24,104 beneficiaries of its grants and loan scheme across Delta State.

The announcement was made by Dr. Isioma Okonta, State Focal Person for the Presidential Grant and Loan scheme, during a townhall sensitisation in Asaba on Friday.

Federal government disburses over N1.2 billion grant. Photo credit: X/@officialABATSource: Facebook

Impact of the Scheme

Dr. Okonta expressed gratitude to the Federal Government for the initiative, which he said had positively impacted many residents.

“The programme is working, and many people from across the state have received their N50,000 grants,” he stated.

He encouraged those who have not yet received their grants to be patient.

Ongoing Efforts and Future Plans

Mr. Moses Nega, representing the Bank of Industry in Delta, confirmed the disbursement of N1,205,150,000 to 24,103 beneficiaries from the N200 billion approved by the Federal Government.

He mentioned that while applications for the N50,000 support grant for nano businesses have closed, applications are ongoing for the N75 billion MSMEs fund and another N75 billion Manufacturing sector fund, both at a nine percent interest rate.

Government’s Commitment

Governor Sheriff Oborevwori, represented by State Commissioner Orode Uduaghan, lauded the Federal Government for the scheme, noting its potential to transform the state’s and country’s economy.

He called for better grassroots sensitisation to help people understand the programs and urged beneficiaries to use the funds effectively to grow their businesses.

FG Invites Nigerians to Apply for N50,000

Meanwhile, TheTalk.NG earlier reported that Doris Uzoka-Anite, Nigeria’s Minister of Industry, Trade, and Investment has announced that the federal government will begin disbursement of N150 billion in loans to micro, small, and medium enterprises (MSMEs) by the end of July 2024.

The minister made this disclosure in a post on X (formerly Twitter) on Thursday, June 27, 2024.

Source: TheTalk.NG

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