The Federal Government has disbursed over N1.2 billion to no fewer than 24,104 beneficiaries under its grants and loan scheme in Delta State, marking a significant milestone in empowering small businesses and individuals.
This was disclosed by Dr. Isioma Okonta, the State Focal Person for the Presidential Grant and Loan Scheme, during a town hall sensitization event in Asaba, Delta State’s capital. Dr. Okonta commended the Federal Government for the initiative, noting its positive impact on many lives in the state.
“The programme is working, and many people from across the state have received their N50,000 grants,” Dr. Okonta stated. He reassured those yet to receive their grants to remain patient, emphasizing that the funds would eventually reach them.
He further revealed, “Out of the N200 billion approved for the scheme, N1.2 billion has already been disbursed to 24,103 beneficiaries in Delta.”
Adding to the discussion, Mr. Moses Nega, a representative of the Bank of Industry in Delta, affirmed the disbursement figures. He also highlighted that although applications for the N50,000 nano-business support grants are closed, other funding opportunities remain available. These include the N75 billion MSME fund and another N75 billion Manufacturing Sector fund, both offered at a competitive nine percent interest rate.
Governor Sheriff Oborevwori of Delta State, represented by Orode Uduaghan, the State Commissioner for Humanitarian Affairs, commended the Federal Government’s efforts. He highlighted how the collaboration between the state and federal authorities has positively impacted over 24,103 residents.
The governor emphasized the need for improved grassroots sensitization, suggesting the use of more relatable communication methods to ensure wider understanding and participation in the scheme.
Governor Oborevwori urged beneficiaries to responsibly utilize the funds to grow their businesses and contribute to the state’s economic transformation. He also encouraged entrepreneurs to take advantage of the single-digit interest loans to expand their ventures.
This development reaffirms the Federal Government’s commitment to economic empowerment and sustainable growth in Delta State and beyond.
