The Ministry of Industry, Trade, and Investment has issued a directive for applicants of the Presidential Conditional Grant Scheme to provide their National Identification Numbers as part of the necessary requirements to access a grant aimed at mitigating the impact of recent economic reforms on businesses in Nigeria.

The government, in collaboration with the Bank of Industry, has allocated a total of N200 billion to support manufacturers and businesses nationwide. This decision comes in response to new regulations from the Central Bank of Nigeria, mandating Nigerians to link their National Identification Numbers with their bank accounts.

Trade Minister Doris Aniete announced the new requirement through a post on her official social media platform on Sunday. The post, titled “Update on the Presidential Conditional Grant Programme Application Process,” outlined that all applicants will receive an SMS from ‘FGGRANTLOAN’ with instructions to submit their NINs via a secure link. This step is crucial for the continuation of the application process, with only verified applicants receiving the notification.

The delay in disbursing the grant, initially announced by President Bola Tinubu in August 2023, has caused frustration among prospective beneficiaries. Despite the president’s commitment to supporting the manufacturing sector and creating job opportunities, the programme has yet to reach a significant stage.

Femi Egbesola, President of the Association of Small Business Owners, expressed disappointment over the slow progress, citing a lack of communication from supervising agencies regarding the status of the funds. He emphasized the need for transparency and updates on the disbursement timeline to provide clarity to stakeholders.

The ongoing challenges in accessing the grant highlight the importance of efficient communication and accountability in government initiatives aimed at supporting businesses and driving economic growth. Stay tuned for further updates on this developing story.