The federal government will give small business owners in Enugu N150,000 each. This big news was announced by Kashim Shettima’s spokesperson, Stanley Nkwocha, after Shettima visited a special fashion center in the area.
At an event in Enugu, the Vice President told the crowd about this gift of N150,000. He said it’s free money, and people don’t have to pay it back. This shows how much the government wants to help small businesses grow and help the economy get better.
“Ladies and gentlemen, I’m happy to tell you President Bola Ahmed Tinubu has decided to give N150,000 to the best small businesses here today. It’s a gift you don’t pay back because we want to help you and make the economy strong,” he explained.
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Senator Shettima feels happy about the government helping small businesses. He said, “Without strong small businesses, an economy can’t grow.”
He praised the government for making smart choices to fix problems affecting the economy. He believes Nigeria will grow better if businesses in all regions, from Abia to Zamfara, do well. Small businesses are really important because they make up most of the businesses in Nigeria and contribute a lot to its success.
“We need to work together. Small businesses make up 96% of Nigeria’s businesses and give more than 45% to our GDP. This means Nigeria would be lost without you,” he said with confidence.
Important Information
In December 2023, the government launched a program to help very small businesses called the Presidential Conditional Grant Scheme (PCGS).
The plan begins on March 9, 2024, and will give N50,000 to small business owners in many areas like trading, food services, and more. These are gifts, not loans, so there is no need to repay them.
The PCGS wants to give most of the money to women and young people. It will also support people with disabilities and senior citizens some, leaving a bit for others.
Doris Uzoka-Anite, who is in charge of industry and trade, said each person who qualifies will get the N50,000 deposited into their bank account.