Tinubu Announces New Presidential Grant for Nigerian Businesses, Names Those to Apply
- President Bola Tinubu issued a directive authorising a grant of ₦150,000 for each business owner in Jigawa state
- The vice president said that the initiative was part of Nigeria's digital transformation strategy in Africa
- He said that the country is about to overtake the rest of the world in terms of economics and technology
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
For every company owner in Jigawa state, President Bola Tinubu has issued a directive approving a grant of N150,000.
Source: Getty Images
Vice President Kashim Shettima stated this on his official X Twitter on Tuesday, July 23.
Shettima said the cash award was a component of Nigeria's plan for digital transformation and leadership in Africa. He spoke at the AI Expertise Blockchain and Technology Training and Outsourcing Initiative launch in Dutse, the state capital.
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The vice president said Nigeria is poised to surpass the rest of the world in technology and economy, not just catch up.
Shettima had earlier announced the launch of the fourth iteration of the Expanded National Micro, Small, and Medium Enterprises (MSMEs) Clinic.
At the event, he revealed that President Bola Tinubu had issued an order directing N150,000 to be distributed to each state's business owners as part of the federal government's support for MSMEs nationwide.
Minimum wage bill
The N150,000 grant, he said, is an outright gift that recipients are not obliged to return.
This is due to the National Minimum Wage Act of 2019 (Amendment Bill) being swiftly enacted by the Senate and the House of Representatives on Tuesday.
Shortly after Tinubu submitted the measure, which cleared both the red and green chambers of the National Assembly on its second and third readings, it was immediately passed separately.
The National Minimum Wage Bill passed the Senate on its third reading by a unanimous vote following clause discussion in the Committee of the Whole.
Like the Senate, the house passed the bill right away as well. It is anticipated that President Tinubu will enact the legislation.
The National Minimum Wage Bill was previously forwarded by the president to the National Assembly for review and approval.
A lot of Nigerians are not so enthusiatics about the development bacause they believe that they will never be a beneficiary.
Ngozi Eze siad,
"See, government should stop disturbing our ears with this grant announcement please. Ever since they started thesharing the money they claim they are sharing I have never received any alert nor do I know of anyone who has. So where is the money going?
Peter Ashafa said,
"My own is that the government should try and send this monies directly to citizens account so that everybody can benefit from it."
FG invites Nigerians for N50,000 cash grant
Legit.ng also reported that Doris Uzoka-Anite, Nigeria's Minister of Industry, Trade, and Investment has announced that the federal government will begin disbursement of N150 billion in loans to micro, small, and medium enterprises (MSMEs) by the end of July 2024.
The minister made this disclosure in a post on X (formerly Twitter) on Thursday, June 27, 2024.
She also revealed that Nigerians still have opportunities to apply for the Presidential Conditional Grant Scheme.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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Source: Legit.ng
