The Federal Government has disbursed over N1.2 billion to 24,104 beneficiaries of its grants and loan scheme across Delta State. This initiative is part of the government’s efforts to support small businesses and entrepreneurs in the state.
According to Dr. Isioma Okonta, the State Focal Person for the Presidential Grant and Loan scheme, the program has been successful, with many people across the state receiving their N50,000 grants. Okonta thanked the Federal Government for the initiative and advised those who have not received their grants to wait, as it will come.¹
The representative of the Bank of Industry in Delta, Mr. Moses Nega, confirmed that N1,205,150,000 has been disbursed to 24,103 beneficiaries across Delta. Nega also announced that the application window for the N50,000 support grant for nano businesses is closed, but applications are ongoing for the N75 billion MSMES and another N75 billion Manufacturing sector fund to support them at a nine percent interest rate.
Governor Sheriff Oborevwori of Delta State praised the Federal Government for disbursing over N1.2 billion to beneficiaries of its grants and loan scheme across the state. Oborevwori emphasized that the scheme would transform the economy of the state and the country at large. He also called for more sensitization at the grassroots using a more friendly communications system to enable the people to understand the programs better.
Key Highlights of the Loan Scheme:
– Beneficiaries: 24,104 people across Delta State
– Total Amount Disbursed: N1,205,150,000
– Grant Amount: N50,000 per beneficiary
– Interest Rate: 9% for MSMES and Manufacturing sector fund
– Application Window: Closed for N50,000 support grant, ongoing for N75 billion MSMES and Manufacturing sector fund
