The Nigerian government has commenced the disbursement of ₦200 billion in palliative loans through the Presidential Conditional Grant Scheme.
After a thorough selection process, verified applicants have begun receiving grants, with another significant disbursement scheduled for April 19.
The funds are intended to support manufacturers and businesses across the country. The disbursement, which comes eight months after the grant was first announced by President Bola Tinubu, aims to cushion the impact of recent economic reforms on businesses.
However, the program has faced criticism for its delays and complex registration process, with some prospective beneficiaries accusing the supervising agencies of deliberately discouraging genuine businesses from accessing the loans.