Applicants seeking support from the Presidential Conditional Grant Scheme are now required to provide their National Identification Numbers (NINs) following directives from the Ministry of Industry, Trade, and Investment. This measure aims to assist businesses affected by recent economic reforms.
The Bank of Industry, on behalf of the government, plans to allocate ₦200bn to aid manufacturers and businesses nationwide through three funding categories.
In compliance with new regulations from the Central Bank of Nigeria, applicants must link their NINs with their bank accounts, as announced by Trade Minister Doris Aniete.
Applicants will receive instructions via SMS from ‘FGGRANTLOAN’ to securely submit their NINs, ensuring a seamless application process. Only verified applicants whose NINs match their names will proceed.
Despite President Bola Tinubu’s announcement in August 2023 to disburse grants to manufacturers and small businesses, delays persist. Concerns have been raised about the slow progress and lack of communication regarding fund disbursement.
