The Federal Government says more than 900,000 Nigerians have so far benefited from the Presidential Conditional Grant and Loan Scheme, one of the flagship initiatives under the 8-point Renewed Hope Agenda. The scheme, which targets small businesses, traders, artisans, and young entrepreneurs, is part of a broader effort to stimulate inclusive economic growth and reduce poverty nationwide.
The update was given by the Minister of Information and National Orientation, Mohammed Idris Malagi, during a national conference held in Minna. According to him, the Renewed Hope Agenda is not just a policy statement but a working blueprint that is already delivering “real, measurable opportunities” for Nigerians at the grassroots.
Malagi explained that the grant and loan intervention is one of several social investment tools aimed at supporting vulnerable groups and boosting entrepreneurship. He emphasized that the initiative aligns with the administration’s commitment to strengthening the informal sector, which forms a significant part of Nigeria’s economy.
In addition to the grant and loan scheme, the Minister highlighted several other ongoing efforts. He noted that over 300,000 students have benefited from the newly launched Students’ Loan Scheme, which is designed to increase access to higher education by removing financial barriers for eligible students.
He also revealed that the Bank of Agriculture has been recapitalized with ₦1.5 trillion to enhance agricultural financing and productivity. This move is expected to support farmers, agribusinesses, and cooperatives, strengthening food security and reducing import dependence.
Further demonstrating the administration’s economic strategy, Malagi pointed to the establishment of the Ministry of Livestock Development, a new institution with the mandate to harness the untapped potential of Nigeria’s livestock sector. The government projects that the livestock economy could unlock up to ₦30 trillion in value, creating new jobs and investment opportunities across the country.
Addressing the controversial fuel subsidy removal, the Minister acknowledged the hardship it initially caused for many Nigerians but maintained that the decision has resulted in increased funds for infrastructure, education, healthcare, and other critical services. He said state governments have also received improved allocations, enabling them to undertake long-overdue capital projects.
“These decisions were not easy, but they were necessary. We are beginning to see the results in terms of development projects and better services,” Malagi said.
The minister stressed that all of these initiatives underscore the Federal Government’s determination to rebuild the economy, promote self-reliance, and deliver sustainable growth for all Nigerians
