Trade Minister gives update on N50,000 grant scheme

Doris Uzoka-Anite, Minister of Industry, Trade, and Investment, provided an update on the disbursement of N50,000 to artisans and small business owners in the country through the presidential award system.

In a tweet on her verified X profile on Thursday, the minister stated that approximately 150,000 Nigerians had already benefited from the plan, out of a target of one million.

She, however, cautioned applicants not to fall victim to dishonest people seeking payment to obtain the grant, as the scheme is entirely free.

“Beware of fraudulent and unscrupulous parties demanding payment for grant processing. The Presidential conditional grant is completely free—no fees required. The ONLY official source for federal grants and loans is

” Grant disbursements are ongoing; 150,000 of the 1 million targeted payments have been issued as of this week. If you’re verified and awaiting funds, we appreciate your patience during this process. For full transparency, a list of all beneficiaries will be released upon completion.

“Missed the grant application? You might still qualify for an MSME loan. Check your eligibility at our official website where applications are still open. You are also invited to visit your closest Bank of Industry branch. A list was published in an earlier tweet. Thank you for your patience as we work towards assisting everyone eligible, ” she said.

News24 Nigeria reports that under the scheme, a grant sum of  N50,000.00 (Fifty Thousand Naira) is given to each  beneficiary.

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