FG disburses N1.2bn loan to over 24, 000 beneficiaries in Delta

The Federal Government says it has disbursed over N1.2 billion to 24,104 beneficiaries of its grants and loan scheme across Delta State.

The State Focal Person for the Presidential Grant and Loan scheme, Dr Isioma Okonta, who disclosed this on Friday at a townhall sensitisation in Asaba, the Delta State capital, thanked the Federal Government for the initiative, which he said had impacted many people in the state.

He said, “The programme is working, and many people from across the state have received their N50,000 grants.

“I want to thank the government for the town hall sensitisation and to advise those who have not received their grants to wait for it, and it will come.

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“Out of the N200 billion approved by the Federal Government for the presidential grant and loan scheme, N1, 205, 150,000 has been disbursed to 24,103 beneficiaries across Delta.”

Also speaking, the representative of the Bank of Industry in Delta, Mr Moses Nega, collaborated that of the N200 billion approved by the Federal Government for the presidential grant and loan scheme, N1,205,150,000 has been disbursed to 24,103 beneficiaries across Delta.

He said though application windows are closed for the N50,000 support grant for nano businesses, the application was ongoing for the N75 billion MSMES and another N75 billion Manufacturing sector fund to support them at a nine per cent interest rate.

In his remarks, Governor Sheriff Oborevwori of Delta State lauded the Federal Government for disbursing over N1.2 billion to beneficiaries of its grants and loan scheme across the state.

Oborevwori, represented by the State Commissioner for Humanitarian Affairs, Community Support Service and Girl Child Development, Orode Uduaghan, said the scheme would transform the economy of the state and the country at large.

He, however, said that the state government’s collaboration with the Federal Government on grant and loan schemes has impacted over 24,103 persons.

The governor “called for more sensitisation at the grassroots using a more friendly communications system that would enable the people to understand the programmes better.”

He charged the people to take the opportunities provided to secure single-digit interest loans to grow their businesses while urging the beneficiaries to effectively utilise the funds to build their businesses and grow the economy.