President Bola Ahmed Tinubu’s federal government has pledged to give N50,000 to 1,300 owners of nano enterprises in all local government areas across the nation.
Tinubu, who made this known in his national broadcast on Monday, July 31, stressed that N50 billion will be utilised for the project.
Tinubu to spend N75 billion to grow Nigeria’s manufacturing sector
Additionally, the president added that his government will spend another N75 billion to expand the manufacturing sector to create jobs for Nigerians, Vanguard reported.
The president said the fund will be spent from July 2023 to March 2024 as a mechanism to finance no fewer than 75 enterprises to begin sustainable economic growth in Nigeria.
He also disclosed that about N125 billion had been set aside to fund the micro, small and medium-sized enterprises as well as the informal sector, acknowledging their importance to economic growth, The Cable report added.
“To strengthen the manufacturing sector, increase its capacity to expand and create good-paying jobs, we are going to spend N75 billion between July 2023 and March 2024,” Tinubu said.
President Tinubu announces fresh palliative for Nigerian students
President Bola Tinubu also announced fresh palliative for Nigerian students across federal institutions in the country.
This was disclosed in a tweet by the presidency on Monday, July 31, stating that President Tinubu has approved the distribution of busses to bodies of all universities, polytechnics and colleges of education across the country.
The president decided to ensure the students have free access to their campuses and hostels.