Federal Government to Boost Over 700 Manufacturers and MSMEs with New Grant and Loan Scheme

Federal Government is launching a significant initiative to support Nigeria’s manufacturing sector and micro, small, and medium enterprises (MSMEs). Dr. Doris Anite, the Minister of Industry, Trade and Investment, announced that the government is set to disburse funds to more than 700 verified manufacturers and MSMEs across the country.

Under the Presidential Grant and Loan Scheme, this financial boost aims to enhance the capacity and growth potential of eligible businesses. Dr. Anite emphasized that the scheme is designed to provide critical support to enterprises that have been thoroughly verified, ensuring that the funds reach those most in need.

This initiative reflects the government’s commitment to fostering industrial growth and supporting small businesses, which are crucial to Nigeria’s economic development. The disbursement of these funds is expected to not only stimulate production but also create job opportunities and drive innovation within the sector.

The grant and loan scheme is part of a broader strategy to improve Nigeria’s business environment and promote sustainable economic growth. By targeting over 700 businesses, the government hopes to create a ripple effect that will benefit the wider economy.

For more updates on this initiative and other government programs, stay tuned to official channels and news outlets.