The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, made this known in a post on her official X handle on Thursday.
Sixty per cent of the 1 million applicants under the Presidential Conditional Grant Scheme (PCGS) have received the N50,000 grant.
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, made this known in a post on her official X handle on Thursday.
Mrs Uzoka-Anite noted that only one million beneficiaries can be accommodated out of about four million Nigerians who applied for the grant.
She explained that beneficiaries are selected using random numbers generated by computers. This, the minister explained, will help give "everyone an equal chance".
"The disbursement process is still ongoing, and we have allocated about 60% of the 1 million grants. You can track the number of beneficiaries per LGA paid so far on grant.fedgrantandloan.gov.ng/learn-more/dis.
"It's important to note that almost four million Nigerians applied for the Palliative grant of 50k, but only one million beneficiaries can be accommodated. This means not all applicants will receive the grant.
"The selection is not based on who applied first; everyone has an equal chance but by random computer generated selection," she stated.
While thanking applicants for their patience, Mrs Uzoka-Anite noted that the complete disbursement of N50,000 to one million applicants was delayed due to issues ranging from incorrect data to duplicate applications.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
"The teams in my office and BOI have worked tirelessly to ensure this process is fair and accurate. Testimonial videos are already being shared, showcasing how the grant has positively impacted lives and we will share many more. We have prioritised accuracy over speed to ensure every Nigerian who applied has a fair shot.
"We had hoped to complete all one million disbursements by now but the process has been delayed due to incorrect or missing data, duplicate and spurious applications, which we have had to meticulously clean up to ensure eligibility and validation.
"We are also at the final stages of vetting for the MSME and manufacturing loans. Applications remain open, and disbursement will begin by July ending," she noted.
As part of efforts to tackle the economic hardship in the country, the Federal Government launched the Presidential Conditional Grant Scheme (PCGS).
The grant is a one-off payment of N50,000 to one million small business enterprises in the 774 local government areas of the country. The target sectors of the scheme include traders, food services, ICT, transportation, creatives and artisans.
According to the government, eligible candidates must own a small business, operate a business with progressive economic potential, and be willing to engage at least one additional staff member if turnover increases.
Other conditions include proof of residential/business address in the Local Government Area as well as relevant personal and bank account information, including Bank Verification, (BVN) for verification of identity and National Identification Number (NIN).
