The House of Representatives Committee on Small and Medium Enterprises has met with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on key aspects of the implementation of the presidential palliative grants and loans.
The committee Chairman, Mansur Soro, who led the team on Friday to ascertain the extent of funding and releases so far made to implementing ministries, departments, and agencies, disclosed this in a statement made available to journalists on Saturday by his Personal Assistant, Aleeyu Darazo.
The House Committee on SMEs had previously met with other top government officials. including the Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, the Accountant General of the Federation, Dr Oluwatoyin Madein, as well as the Director General and Chief Executive Officer of the Small and Medium Enterprises Development Agency of Nigeria, Charles Odii
The statement read in part, “The 10th House of Representatives under the leadership of Tajudden Abbas places a high premium on SMEs development, hence its decision to create a standing committee on SMEs to ensure effective oversight of the SMEs activities and programmes of line MDAs.
“The Presidential palliative grants and loans which come in three tranches of N50,000 grants to one million nano-businesses, N100,000 to N1m, and N75bn to manufacturers are due for disbursement anytime soon.”
President Tinubu had in July ordered the implementation of palliatives to cushion the effects of the removal of the petrol subsidy across the agriculture, transportation, social safety, and SME sectors of the economy.
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