Oil Subsidy Removal: We Will Give 125 Billion To Small Business Owners To Increase Their Capital - Tinubu In a speech he delivered through...
Oil Subsidy Removal: We Will Give 125 Billion To Small Business Owners To Increase Their Capital - Tinubu
In a speech he delivered through the media on Monday to the people of Nigeria, President Bola Ahmed Tinubu, said that he would like to take some important measures that will put an end to the stress that the nation is in as a result of the withdrawal of Mai's advertisement. .
According to him, he will give 75 industrial owners discounted capital of up to one billion naira each, which they will pay in 60 months in the easiest ways.
Also, the president said, medium and small businesses will benefit from 125 billion naira to boost their investment.
Also, out of that 125 billion, the government will provide free capital (with a condition) of 50,000 naira to 1,300 small business owners in each municipality.
Then, the remaining 75 billion will go to the middlemen where 100,000 people will be given a discounted loan of 500,000 to one million naira which they will pay slowly in three breaths.
The president ordered the release of 200,000 tons of food and 225,000 tons of fertilizer to be distributed to the needy and farmers across the country.
In his speech, he said, the government will soon provide up to 3,000 gas-powered minibuses to reduce the cost of transportation for the people. These vehicles will be distributed to transport companies to manage them.
Also, the government has allocated a lot of money to cultivate 500,000 hectares in different parts of the country. In addition to providing food, this program will provide unemployed youth with temporary employment.
With the speedy implementation of the salary adjustment system once the government reaches a position with the trade unions.