The Federal Government under the Ministry of Industry, Trade and Investment, has launched the 200 Billion Naira Loan to Boost MSME and Manufacturing Sector for economic growth. The initiative aims to provide financial support to small and medium-sized enterprises (SMEs), including the manufacturing sector, to create more jobs and drive the nation’s economy.
The Presidential Conditional Loan Scheme allocation was divided into two categories: N75 Billion for Small and Medium-sized Enterprises (SME), from N500,000 up to 1 Million Naira and N75 Billion for Manufacturing from N500m up to 1 Billion Naira. The disbursement of the fund to nano businesses has showcased achievements, which support 1 million nano businesses across the country.
The Ministry will continue to Disburse the grant to more beneficiaries this week. According to the statement published by the Minister of Industry, Trade and Investment Dr Doris Anite.
The Presidential MSMEs Loan can apply for up to 1 Million Naira loan, while the Manufacturing Sectors can apply for up to 1 Billion Naira. The fund will be provided by the Bank of Industry (BOI), to support many businesses across the country.
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The Presidential Conditional Loan Scheme is expected to show a significant impact which will contribute to the growth of the economy and the development of the country.
Loan Details:
– MSMEs: Up to N500,000 and 1 Million Naira loans are available for this loan
– Manufacturers: Up to N500 Million and N1 Billion are available for this loan
How to Apply:
To apply for the Presidential Conditional Loan scheme, visit the link loan.fedgrantandloan.gov.ng to apply for the loan.
Contact Details
For more info about the loan eligibility criteria, and another loan issue, you may visit any Bank of Industry (BOI) to ask for more info about the loan.
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