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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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Democratic governance has taken root despite ongoing challenges – Gov Kefas

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Governor Agbu Kefas of Taraba State has once again affirmed that democratic governance has taken root despite ongoing challenges.

In a statement released on his behalf by his Special Adviser on Media and Digital Communications, Emmanuel Bello, in commemoration of Democracy Day, Governor Kefas saluted Nigerians, who he said have contributed to deepening the democratic experience.

Stressing that “the labours of our heroes past shall never be in vain,” the governor, reflecting on the country’s democratic journey, emphasised the importance of perseverance and nation-building.

Arguing that “Rome was not built in a day,” he urged Nigerians to remain hopeful and committed to democratic ideals that strengthen institutions and promote good governance.

Kefas, who also cited progress in peace and security, noted that improved safety in Jalingo and other areas had created a conducive atmosphere for political participation and constructive criticism.

“Jalingo and its environs were once plagued by kidnappings and criminality. Today, through hard work and commitment, we’ve made the state safe enough for residents to return and freely express their views. That’s part of the democratic progress we celebrate,” he recalled.

The governor reiterated his belief in action over rhetoric, stressing the importance of laying solid foundations for sustainable development.

“We are not in a hurry. I talk less and plan more,” he said. “If, after four years, we haven’t delivered, then the people can judge us accordingly,” Kefas said.

He added: “We now have a clear roadmap on which to build the infrastructure our people need. It was worth the wait to ensure things are done properly and will stand the test of time.”

He called on citizens to remain patient and supportive, as the government continues its efforts to transform the state for the better.

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Democracy must be protected, nurtured – Fubara

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Suspended Rivers State Governor, Siminalayi Fubara, has reaffirmed his unwavering commitment to the rule of law, the protection of fundamental human rights, and the promotion of inclusive democratic participation for all citizens, regardless of political affiliation.

In his Democracy Day message on Thursday, Governor Fubara emphasized that his administration remains focused on protecting lives and property, while upholding the values of transparency, accountability, and inclusivity in governance.

He pledged to continue defending the interests of Rivers State and to lead a government grounded in fairness and openness.

Reflecting on Nigeria’s 26 years of uninterrupted democracy, Fubara called for unity and collaboration across political lines to build a society where every citizen is heard, empowered, and encouraged to contribute to collective progress.

Addressing the recent political tensions in Rivers State, including his own suspension alongside other elected officials, the governor described these events as a stark reminder of democracy’s fragility and the need for constant vigilance in its preservation.

In a statement issued by his Chief Press Secretary, Nelson Chukwudi, Governor Fubara acknowledged that Rivers State’s democratic journey has seen both triumphs and setbacks, all of which underscore the importance of remaining steadfast to democratic ideals.

He highlighted his administration’s commitment to fairness, civil liberties, and institutional oversight, noting that deliberate efforts have been made to foster inclusion, accountability, and openness, essential pillars for sustaining democracy for future generations.

Despite the challenges faced, Fubara expressed confidence in the resilience and determination of the people of Rivers State, as he urged citizens to “approach this critical moment with unity, courage, and renewed purpose”, emphasizing that “the state’s future depends on collective action, innovation, and shared aspirations.”

He also paid tribute to past leaders whose sacrifices laid the groundwork for today’s democratic gains, reminding citizens to honour that legacy by upholding the values they fought for.

Governor Fubara encouraged Rivers people to act with patriotism, dedication, and a sense of responsibility, just as he expressed optimism that, through collective effort and determination, Rivers State will emerge stronger and more united.

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We’ve Just Finished Renovating Conference Centre With N39B When Our Children Don’t Have Light- Peter Obi ‎

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‎Former Anambra State Governor and Labour Party presidential candidate, Peter Obi has condemned the extravagant lifestyle of Nigerian politicians while basic education infrastructure remains in shambles.

‎Speaking during an interview with SYMFONI TV where he donated computers to Chibok girls, Obi decried the disconnect between political spending and the suffering of ordinary Nigerians, especially students.

‎”We have just finished renovating our conference centre with 39 billion naira when our children in school don’t have light, they don’t have computer, their classrooms are leaking, they don’t have water.”

‎Peter Obi who is Known for his meticulous approach to governance and strong emphasis on education, reiterated that no nation can progress when its leaders prioritize personal comfort over the welfare of its youth.

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