FG to disburse N300m MSMEs Survival Fund to mark 60th anniversary

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FG to disburse N300m MSMEs Survival Fund to mark 60th anniversary – Government has concluded arrangements to share about N300million under the National Medium, Small and Micro Enterprises (MSMEs) Survival Funds scheme to about 333,000 artisans and transporters, as part of measures to commemorate Nigeria’s 60th Independence anniversary on October 1st.

The government named target beneficiaries of the scheme include mechanics, taxi drivers, hairdressers, keke NAPEP riders, Okada riders, plumbers, electricians among others.

It said the beneficiaries are to be drawn from 12 states, including Lagos, Bauchi, Kaduna, Kano, Plateau, Borno, Ekiti, Anambra, Abia, Kogi, Ondo, and the FCT respectively for this first phase of the scheme.

The Minister of State for Industry, Trade and Investment, Ambassador Mariam Yalwaji Katagum, made this known in Abuja, while briefing journalists on the government’s preparation for the anniversary.

Katagum, who is also the Chairperson, Steering Committee of the Scheme, disclosed that each beneficiary would be given a one-off payment of N30, 000.

Read also: FG Updates MSME Survival Fund Registration Portal

According to her, about 174,574 MSME operators have so far registered for the Scheme, with five states recording the highest.

In a remark, the Special Assistant to the President on MSME, Tola Johnson, said N75billion has already been set aside by the Federal Government for the National MSME Survival Fund, with a Guaranteed Off-Take Stimulus Scheme, under the Nigeria Economic Sustainability Plan (NESP).

Johnson explained that the gesture is to cushion the impact of the COVID-19 pandemic on MSMEs.

Also contributing, the Director-General of Small and Medium Enterprises of Nigeria (SMEDAN), Dr Dikko Umar, revealed that all MSME operators in the states of the federation and the FCT would be carried along in the programme.

He said necessary measures have been put in place to prevent scammers and fraudsters from taking advantage of the scheme.




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About Sam Gabriel 962 Articles
Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

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