In furtherance of its determination to see to the timely implementation of the small and medium enterprises component of the presidential palliative grants and loans, the House Committee on SME led by its Chairman, Hon Mansur Manu Soro, on Friday, met with the Minister of Finance and Coordinating Minister of Economy, Mr Wale Edun, to ascertain the extent of funding and releases made to implementing MDAs.
The House Committee had previously met with other officials, including the Honourable Minister of Industry, Trade and Investment, Mrs Doris Anite, Accountant General of the Federation and DG/CEO of SMEDAN, Mr. Charles Odii in this regard.
According to Aleeyu Darazo, Personal Assistant, New Media to the Committee Chairman on SME, “the 10th House of Representatives under the leadership of Rt Hon Tajudden Abass places high premium on SME development, hence its decision to create a standing committee on SME to ensure effective oversight of the SME activities and programs of line MDAs.”
He said the presidential palliative grants and loans which comes in three tranches of N50,000 grants to 1million nano businesses, N100,000 – N1million and N75billion to manufacturers are due for disbursement anytime soon.
Recall that President Bola Tinubu directed for the implementation of palliatives to cushion the effects of the removal of petrol subsidy across the agricultural, transportation, social safety and SME sectors of the economy in July 2023.