FG disburses N50bn Grant to Small Businesses

The Federal Government has commenced disbursement of the N50bn grant to small businesses across the country.

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The Director General of the Small, Medium Enterprises Development Agency (SMEDAN), Mr. Charles Odii, disclosed this on Thursday in Asaba, Delta State capital, while addressing small business operators.

Odii emphasized that the grants are for one million beneficiaries who have gone through the online registration process and are not meant for members of any particular political party.

He expressed displeasure with the alleged lopsided selection of beneficiaries in Delta State and stressed that poverty does not know political party, sex, or age.

The SMEDAN boss said the grants are aimed at supporting small businesses to grow and create jobs. He appealed to government officials to cooperate and ensure that the benefits of the initiative reach small and medium enterprises across the country.

Odii called on the state government to partner with SMEDAN in building the capacity of small business owners, whom he categorized as employing less than three staff, with an annual turnover of less than N3 million. He said the beneficiaries would be introduced to banks in the long run to access credit facilities.