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Federal Government to start disbursement of N200b intervention fund to MSMEs and manufacturers

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Uzoka-Anite

The Federal Government says it will soon commence the loan disbursement process for micro, small and medium enterprises (MSME) and manufacturers under the Presidential N200 billion Intervention Fund scheme.

President Bola Tinubu launched the scheme on October 17, 2023, to cushion the effects of the removal of petrol subsidy.

Announcing the disbursement of the funds, Minister of Industry, Trade and Investment, Doris Uzoka-Anite, in a statement yesterday, noted that the decision was taken following the success of the ongoing disbursements targeted at supporting one million nano businesses across the country.

According to her, N75 billion each has been allocated to support MSMEs and the manufacturing sector under the Presidential Intervention Fund. This is in addition to the N50 billion set aside to support the nano businesses.

 

Uzoka-Anite said;

“The Federal Government of Nigeria is proud to announce the operational launch of the MSME and Manufacturing segment under the prestigious Presidential N200 Billion 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 MSME 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.
“We are pleased to report that the initial disbursement to nano businesses has been met with success, and we are well on our way to supporting one million nano businesses throughout the country.
“Thousands of beneficiaries have already confirmed receipt with many more to come.

“We invite eligible enterprises to join this transformative initiative. To apply, please visit our official application portal at www.fedgrantandloan.gov.ng.
“Additionally, applicants seeking more detailed information should visit their local state Bank of Industry (boI) branch.”

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PDP Holds BoT Meeting, Vows To Restore Confidence, Hold Congress In States

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The Peoples Democratic Party (PDP) Board of Trustees (BoT) is presently meeting in Abuja.

In his opening address, the BoT Chairman, Senator Mao Ohuabunwa, reaffirmed the commitment of the body to restoring confidence within the party and organizing congresses in states where they have not yet been held.

Senator Ohuabunwa told members that the national leadership is ready to work collaboratively with all state chapters to bring fresh leadership and stability across the country.

He outlined the PDP’s roadmap: conduct overdue state congresses, consolidate ongoing achievements, and support the national leadership to steer the party back on course.

According to him, these steps are critical to ensuring unity, transparency, and strengthening grassroots engagement.

By holding timely congresses and reinforcing organizational discipline, PDP hopes to rebuild trust among members and present a more organized, credible front ahead of future elections.

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BREAKING: Talon safe as loyalist forces regain control after brief coup scare

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Benin’s President Patrice Talon is safe, and security forces are restoring order after a faction of soldiers claimed to have removed him from power, the presidency announced on Sunday.

In a brief statement, the presidency dismissed the soldiers’ declaration as the actions of a fringe group with limited influence.

“This is a small group of individuals who only managed to seize the television station. The regular army is steadily regaining control. Both the city and the entire country remain completely secure,” the statement said.

The clarification follows an earlier broadcast by soldiers identifying themselves as the “Military Committee for Refoundation,” who declared that Talon had been removed from office.

The government has since described the broadcast as an isolated disruption, assuring citizens that the situation is under control.

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Orluzurumee Shifts Expanded Stakeholders’ Meeting To December 13

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The leadership of Orluzurumee, the apex socio-cultural body of Orlu Zone, has announced a new date for its much-anticipated Expanded Leadership and Stakeholders Meeting.

In a statement by the group’s Publicity Secretary, Nnamdi Cos-Ukwuoma, the organization said the meeting, earlier scheduled was shifted due to fresh logistical arrangements aimed at ensuring wider participation and seamless coordination.

According to the statement, the meeting will now take place on Saturday, December 13, 2025, at the Mayor Eze Hall, Orlu Local Government Headquarters, by 11:00 a.m.

Orluzurumee, under the leadership of its President General, Rt. Hon. Ugochukwu Nzekwe, expressed regret over any inconvenience the postponement may have caused invited stakeholders, stressing that the adjustment was necessary to guarantee a more inclusive and productive engagement.

According to the statement, the meeting is being convened in collaboration with the Chairman of the Imo State Council of Traditional Rulers, Eze Dr. Emmanuel Okeke, and is expected to bring together traditional institutions, political leaders, community heads and other key actors from across Orlu Zone.

The organization described the gathering as a critical platform for fostering unity, peace and development across the zone, while reaffirming its commitment to the vision of “One Voice, One Destiny, One Orlu.”

Stakeholders and residents of the zone were urged to attend and participate actively in shaping the future direction of Orlu.

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