The Ministry of Industry, Trade, and Investment has directed applicants of the Presidential Grant Scheme to submit their National Identification Numbers (NINs) as part of the requirements to obtain a grant created to reduce the effect the recent economic reforms have on businesses in the country.
Trade Minister Doris Aniete issued the new application process in a social media post on Sunday.
Part of the statement read, “Due to new regulations from the Central Bank of Nigeria, it is now required for applicants to link their National Identification Numbers with their bank accounts.”
Minister Aniete explained in the post titled: “Update on the Presidential Conditional Grant Programme Application Process,” that applicants would receive an SMS from ‘FGGRANTLOAN’ with instructions to submit their NINs via a secure link.
Additionally, she emphasized that the ministry does not currently have records of the NINs of applicants and outlined that only verified applicants whose NINs match their names will proceed in the application process.
However, she stressed that “This step is essential for the continuation of the application process.”
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This move is part of the government’s efforts to disburse three categories of funding totalling N200 billion to support businesses across Nigeria.
Recall that in a nationwide address by President Bola Tinubu, he announced the grant scheme in August 2023 to boost the manufacturing sector and support small businesses in the country.
Despite promises by the ministry, the programme, under the Trade Ministry and executed by the Bank of Industry, is yet to reach a significant stage eight months later.
