FG, Banks To Disburse N75bn Palliatives Loan To Manufacturers.

The Federal Government has partnered with commercial institutions to provide manufacturers with N75 billion through the Presidential Palliative Loan Programme. Beneficiary manufacturers are those that have undergone evaluation by the financial institutions and fulfilled all criteria for disbursement. Each manufacturer is eligible for a maximum of N1 billion, contingent upon the scale of their operations. In an effort to mitigate the effects of the fuel subsidy removal, the Presidential Palliative Loan Programme and the Presidential Conditional Grant Programme had just commenced. Beneficiaries of both initiatives are obligated to fulfill specific prerequisites prior to receiving approval or withdrawal. A benefiting nanobusiness […]



Student Loan: House Panel Proposes 3% Increase  

The Ad-hoc Committee on Student Loan Fund and Access to Higher Education in Nigeria of the House of Representatives proposes an increase of 3% for the recently announced 1% increase in student loans by President Bola Ahmed Tinubu. The panel held this view during a public hearing held at the National Assembly to assess the level of progress made thus far by a presidential committee tasked with removing all legal obstacles impeding Nigerian students’ access to the loan. The Chairman of the Ad-hoc Committee, the Honorable Terseer Ugboh, has proposed an increase from one percent to three percent of the[…]



N200 Billion Social Housing Facility Ready For Disbursement At A Rate Of 5% Per Year – FG

The Presidency has declared that the N200 billion facility set aside for the Federal Government Social Housing Scheme is available for disbursement, allowing the project to get underway. This follows the signing of an agreement with the Central Bank of Nigeria (CBN) and a guarantee from the Federal Ministry of Finance for the project, which is intended to produce 1.8 million employment and provide housing to 1.5 million Nigerian families at a rate of 5% each year. The information was revealed in a statement released by Laolu Akande, the Senior Special Assistant to the Vice President on Media and Publicity,[…]