FG Opens N75 Billion MSME Survival Fund Registration Portal September 21

The Federal Government has announced that the registration portal for the N75 billion Micro, Small and Medium Enterprises Survival Fund and Guaranteed Off-take schemes will be opened on Monday September 21, 2020.

The Minister of State for Industry, Trade and Investment, Mariam Katagum, who disclosed this on Saturday, said that the project which would run for an initial period of three months, would be opened to 1.7 million entities and individuals across the country.

The Minister disclosed this in a statement signed by the Assistant Director, Information, Federal Ministry of Industry, Trade and Investment, Oluwakemi Ogunmakinwa on Saturday.

“The registration portal for the schemes is set to open on Monday, September, 21, 2020, and I urge you (MSMEs) all to take full advantage of the schemes.”

“The project, which will run for an initial period of three months, is targeting 1.7 million entities and individuals and has provisions for 45 per cent female-owned businesses and fiver per cent for those with special needs.

Katagum explained that the Survival Fund and Guaranteed Off-take schemes were at the core of the N2.3tn stimulus package of the Federal Government.

The Minister, who noted that the MSMEs have been negatively impacted by the economic downturn arising from the COVID-19 pandemic, urged MSMEs to take full advantage of the Survival Fund and Guaranteed Off-take schemes to improve their businesses.

She said that the N2.3tn stimulus package, also known as the Nigeria Economic Sustainability Plan, is being implemented by the Federal Government to cushion the impact of the COVID-19 pandemic on the country’s economy.

“The implementation of the plan was with a view to boosting the economy by saving existing jobs and creating new job opportunities”.