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N50,000 grant: 402,283 beneficiaries get N20bn

Government has disbursed a total sum of N20.11bn to 402,283 beneficiaries of the N50,000 Presidential Conditional Grant Scheme.
The beneficiaries selected from the 774 local government areas received a direct payment to their bank accounts via their Bank Verification Number.
This information was disclosed in a document exclusively obtained from the Ministry of Industry, Trade and Investment by our correspondent on Wednesday.
The scheme domiciled under the Ministry of Trade and Investment commenced on March 9, 2024, with financial grants of N50,000 without repayment obligations to eligible small business owners operating in various sectors such as trading, food services, ICT, transportation, creatives, and artisans in the 774 local government areas of the country.
It targeted 70 per cent of women and youths, 10 per cent of people with disabilities, and 5 per cent of senior citizens, with the remaining 15 per cent distributed to other demographics.
It also said only one million out of the 3.6 million applicants for the conditional grant will be selected as recipients.
President Bola Tinubu, on October 17, 2023, launched the renewed hope conditional cash transfer to 15 million households.
The scheme was only to benefit people with nano businesses seeking to expand and be willing to formally register their businesses and hire at least one additional person as their turnover increases.
The ministry, in a Frequently Asked Questions and Answers said “Disbursements aren’t based on any specific criteria, but in the order, applications are verified. The goal is to reach an estimated 1,290 beneficiaries per LGA across the country, totalling one million.
“Disbursement is also subject to verification of NIN, which became mandatory after the initial application phase and required only BVN. The selection is random, without human intervention, from those who have passed their NIN and BVN verification.”
The trade minister, Doris Aniete, also stated that the objective is to distribute funds to an estimated 1,290 beneficiaries per local government area across the country.
However, a list containing the number of recipients showed that individuals in all LGAs received the funds but not in equal numbers.
The list didn’t contain personal details and contacts of individuals who benefitted from the programme and is as of May 29, 2024.
A breakdown of the document showed that Katsina LGA in Katsina State got the highest allocation with 1,048 beneficiaries while Omuma LGA got the lowest with 85 recipients.
A summary of the top ten receiving LGAs includes Gusau LGA in Zamfara State (977), Omala in Kogi State with 921 recipients, Shiroro LGA in Niger State (911), Owerri North in Imo State (897), Konshisha LGA in Benue State (890), Calabar South in Cross Rivers State (881), Anka LGA in Zamfara State (876), Balanga LGA in Gombe State (873) and Kaltungo LGA in Gombe State (862).
While the lowest 10 receiving LGAs include Olorunsogo LGA in Oyo State (85), Etsako Central in Edo State (86), Ogu/Bolo in Rivers State (98), Opobo/Nkoro in Rivers State (103), Owen West in Edo State (104), Ovia South-West in Edo State (110), Jere in Borno State with 116 recipients, Degema in Rivers State (146), Ogun Waterside in Ogun State (159), Ogo Oluwa in Oyo state (160).
Recall that the minister had earlier indicated that disbursement was going to be staggered and in phase till completion.
Meanwhile, the trade minister confirmed that the ministry had begun examination and sorting of applications received from asset managers to establish the diaspora fund.
She said hundreds of applications were received and currently undergoing a vetting process.
The minister, speaking through her aide, Terfa Gyado, said, “On diaspora Fund, the deadline for Expressions of Interest has closed and applications are currently being vetted.
“We received applications in hundreds and from all over the world.”
When asked to confirm the specific figure, the minister said it would be announced after the sorting process, she said, “They are still sorting but it was an overwhelming response.”
The $10 billion Diaspora Fund is a government-enabled, private-sector-led initiative of the ministry to attract investment from citizens living abroad.
The fund, which would be established by private sector Fund Managers selected through a competitive bidding process, is a way of encouraging remittances, attracting investments, and facilitating philanthropic endeavours aimed at supporting various sectors such as agriculture, infrastructure, healthcare, education, and entrepreneurship in Nigeria.
The government had extended the date for the submission of an Expression of Interest for the fund to May 13, 2024.
Credit: PUNCH.
News
Just in: Tinubu hosts Wike, Fubara, Kyari, others

By Kayode Sanni-Arewa
President Bola Ahmed Tinubu on Monday held an Iftar dinner with the Rivers State governor, Siminalayi Fubara, and Minister of the Federal Capital Territory (FCT), Nyesom Wike.
Th pesident also hosted other governmental heads, including Ministers, heads of ministries, departments and agencies at the presidential Villa, Abuja.
Also present at the Iftar dinner which is part of the annual ritual of the President, are Vice President Kashim Shettima, the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila and Minister and cabinet members.
Among the state governors in attendance are Dr. Alex Otti of Abia State, Pastor Umo Eno of Akwa Ibom, Bala Mohammed of Bauchi, Hyacinth Alia of Benue , Babagana Zulum of Borno, Sheriff Oborevwori of Delta, Monday Okpebholo of Edo, Muhammad Yahaya of Gombe, Umar Namadi of Jigawa and Uba Sani of Kaduna,
Others are Abba Kabir Yusuf of Kano, Nasir Idris of Kebbi, AbdulRahman AbdulRazaq of Kwara, Abdullahi Sule of Nasarawa, Mohammed Bago of Niger, Dapo Abiodun of Ogun, Lucky Aiyedatiwa of Ondo, Duoye Diri of Bayelsa and Francis Nwifuru of Ebonyi State.
Also in attendance were heads of key government agencies: the Chairman of the National Hajj Commission of Nigeria, Professor Abdullahi Mukhtar Muhammad, the Acting Controller General of the Nigerian Correctional Service, Sylvester Ndidi Nwakuche, the Comptroller General of the Federal Fire Service, Jaji Abdulganiyu, and the Comptroller General of the Nigeria Customs Service, Bashir Adeniyi.
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Abba Kyari and the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed.
News
Why I abandoned APC -El-Rufai

By Kayode Sanni-Arewa
Ex-Kaduna State Governor, Nasir Ahmad El-Rufai, has officially resigned from the All Progressives Congress (APC), saying the party’s deviation from its founding principles and lack of internal democracy.
In a statement released on Monday, March 10, 2025, El-Rufai explained that after extensive consultations, he had decided to join the Social Democratic Party (SDP) as a platform to continue pursuing his progressive political ideals.
Disillusionment with APC
El-Rufai, a founding member of the APC, said he had hoped that the party’s core values would remain intact, but recent events had convinced him otherwise.
“Developments in the last two years confirm that there is no desire on the part of those who currently control and run the APC to acknowledge, much less address, the unhealthy situation of the party,” he stated.
He further noted that his contributions to the party’s successes, including the electoral victories in 2015, 2019, and 2023, had been disregarded by the current leadership.
“The APC has castrated its organs and treated its membership with contempt in the last two years. I find this no longer acceptable.”
Announcing his decision to join the SDP, El-Rufai described the party as a better platform for promoting democratic values, good governance, and national unity.
“I have now decided to join the Social Democratic Party (SDP) and adopt it as the platform for our future political engagements and activities.”
News
Suspension: Akpabio queries Court’s Jurisdiction To Hear Natasha’s Suit

By Kayode Sanni-Arewa
The Senate President, Mr. Godswill Akpabio, has queried the jurisdiction of the Federal High Court sitting in Abuja to hear the suit that was brought before it by the suspended lawmaker representing Kogi Central Senatorial District, Natasha Akpoti-Uduaghan.
Senator Akpabio, through his team of lawyers led by Mr. Kehinde Ogunwumiju, SAN, queried the powers of the court to meddle in the affairs of the Senate.
At the resumed proceeding in the matter on Monday, Ogunwumiju, SAN, noted that Senator Akpoti-Uduaghan had yet to effect proper service of the court processes to enable him to file the necessary application to challenge its competence.
Aside from Senator Akpabio who was cited as the 3rd defendant in the matter, equally joined in the suit are; the Clerk of the National Assembly, the Senate; and Chairman of the Senate Committee on Ethics, Privileges and Public Petitions.
Meanwhile, counsel to the plaintiff, Mr. Michael Numa, SAN, maintained that all the parties were duly served, even he drew attention of the court to affidavits of service that are already in its record.
After going through the affidavits of service before court, Justice Obiora Egwatu confirmed that all the defendants were served.
At that juncture, Senator Akpabio’s prayed the court to grant a short adjournment for all the processes to be harmonised.
Following agreement of all the lawyers, Justice Egwuatu adjourned the matter to March 25, even as he ordered the parties to file and exchange all the necessary processes before the date.
It will be recalled that the court had on March 4, issued an interim order that stopped the Senate Committee on Ethics, Privileges and Public Petitions from going ahead with the disciplinary proceeding that was initiated against the Senator Akpoti-Uduaghan.
However, despite the orders of the court, the Committee held its sitting and slammed the plaintiff with a six months suspension.
The plaintiff is among other things, praying the court to declare any action the Committee took within the pendency of her suit, as, “null, void, and of no effect.”
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