In a bid to stimulate economic growth and support small business owners, President Bola Ahmed Tinubu has directed the allocation of federal government grants to entrepreneurs in Enugu State. The grant, totaling N150,000 for each business owner, is part of the administration’s ongoing efforts to empower small and medium-sized enterprises (SMEs) across the nation.

The initiative aims to bolster local economies and provide much-needed financial assistance to businesses recovering from the impacts of economic downturns. The grant will cover a wide range of sectors, including agriculture, retail, and services, allowing businesses to scale operations, purchase equipment, and improve overall productivity.

In his directive, President Tinubu emphasized the federal government’s commitment to improving the lives of Nigerians through practical and direct economic interventions. “This is just one step towards ensuring that our small businesses thrive, as they are the backbone of our nation’s economy,” he stated.

The distribution of the grants will be coordinated by relevant agencies and is expected to roll out in the coming weeks. Beneficiaries are urged to make the most of the funding to contribute to the state’s overall economic development.