FG Announces Conditional Grant Payments Would Be Made In Stages

THE presidential conditional grant scheme has begun to transfer funds to confirmed applicants, according to the federal administration.

Renewing hope conditional cash transfer to 15 million households was introduced by President Bola Tinubu on October 17, 2023.

A statement released on Tuesday by the ministry of industry, trade, and investment's office stated that the disbursement process has begun with the awards being awarded to a number of beneficiaries.

According to Tinubu, Nigeria should embrace single window systems like those in Singapore, Korea, Kenya, and Saudi Arabia, as these nations have seen notable increases in trade efficiency.

“It is time for Nigeria to join their ranks and reap the reward of a streamlined, decentralised trade process,” Tinubu said.

“We cannot afford to lose an estimated $4 billion annually to red tape, bureaucracy, delays and corruption at our ports.”

Tinubu emphasized that the project is a critical step in Nigeria's economic progress since it has the ability to increase trade efficiency and regional integration.

The Federal Inland Revenue Service (FIRS), the Nigerian Customs Service (NCS), the Nigeria Sovereign Investment Authority (NSIA), and representatives from the ministries of finance, trade and investment, industry, transportation, and marine and blue economy make up the national single window steering committee.

The Nigerian Ports Authority (NPA), Nigerian Maritime Administration on Safety Agency (NIMASA), Standards Organization of Nigeria (SON), Nigerian Central Bank (CBN), National Agency for Food and Drug Administration and Control (NAFDAC), and Presidential Enabling Business Environment Council (PEBEC) are the other organizations.