A Non-Governmental Organization Ireede-Oginni Grassroots Foundation has lauded the initiative of the President Bola Ahmed Tinubu's administration for the disbursement of the N200billion to support manufacturers and businesses across the country, saying it will stabilize businesses and revitalize the economy for optimum performance
The Ministry of Industry, Trade and Investment had it began the disbursement of the Presidential Conditional Grant Scheme to verified applicants after an exhaustive selection process through Bank of Industry
In a progress report posted on the trade minister’s official X (formerly Twitter) handle on Tuesday, Doris Aniete stated that an unspecified number of beneficiaries have received their grants, adding that by Friday, April 19, another significant disbursement will be made to a substantial number of verified applicants.
Founder of the foundation, Chief (Hon) Funmilayo Ireede-Oginni was elated in a statement on Thursday, adding that the disbursement demonstrated the Tinubu's administration commitment to the growth of manufacturing sector and boost local production in the country
Oginni strongly believed that the disbursement of the palliative loans to manufacturers and business owners would strengthen their capacity to create more jobs for teeming unemployed graduates and reposition them for economic growth, after going through hardship, arising from the removal of petrol subsidy by the present administration
The owner of Future Promise Group of Schools, Abeokuta in Ogun State capital, expressed the readiness of her foundation to always support the empowerment of rural women in their businesses and assist less priviledged and talented children in their educational pursuit with various scholarship programme for them to actualize dreams in the society
The foundation then urged the presidency to ensure completion of the loans disbursement on Friday as promised to the remaining verified beneficiaries to conclude the process of repositioning the manufacturing sector as the engine room of the economy
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