Federal Government Commences Disbursement of N200 Billion Palliative Loans; TUC Raises Concerns Over Unpaid Wages

The Federal Government of Nigeria has initiated the disbursement of the N200 billion Presidential Conditional Grant Scheme to verified applicants, aiming to support manufacturers and businesses across the nation. The scheme, administered by the Bank of Industry, encompasses three categories of funding tailored to bolster economic activities.

According to the Minister of Industry, Trade and Investment, Doris Anite, some beneficiaries have already received their grants, marking the commencement of the phased disbursement strategy. Anite reassured stakeholders that additional disbursements will be made to verified applicants by Friday, April 19, 2024. However, she emphasized that not all applicants will receive their grants immediately, as the process is ongoing and will unfold in subsequent phases.

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Addressing concerns over delays in the application process, Anite highlighted the government’s commitment to ensuring transparency and efficiency. She acknowledged initial setbacks regarding the verification process but assured the public that measures have been taken to address these issues.

President Bola Tinubu had earlier announced the grant as part of efforts to fortify the manufacturing sector, enhance its capacity for growth, and facilitate job creation. The initiative comes amid economic reforms aimed at mitigating the adverse effects on businesses in the country.

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However, amidst the announcement of the grant, the Trade Union Congress (TUC) has voiced its discontent over the Federal Government’s failure to implement the N35,000 monthly wage award. The TUC lamented the government’s disregard for its obligation to workers, highlighting the importance of honoring wage agreements to alleviate the financial burdens faced by citiz

As the disbursement process unfolds, stakeholders are urged to exercise patience, with assurances from the government of continued diligence and fairness in processing applications.

Source: Vanguard Nigeria

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