FG To Begin Last Schemes Of N75bn Survival Fund
The Federal Government is set to roll out the last two schemes of the Micro Small and Medium Enterprises, MSMEs Survival Fund known as the Guaranteed Off take Scheme and General MSMEs Grant.
The Minister of State for Industry Trade and Investment, Mariam Katagum disclosed this during a press briefing in Abuja.
Advertisement
She said the implementation of the Survival Fund is progressing steadily with the activation of three tracks across the country namely.
They are the Payroll Support Scheme, Artisan and Transport Scheme, and Formalization Support Scheme.
She noted that the Payroll Support Portal was reopened for 30 States that have not met their quota in the initial stage of the programme between 27th, January – 2nd February, 2021.
She said, “It would be recalled that President Muhammadu Buhari on July 1, 2020 approved the National Economic Sustainability Plan presented to him by Vice President Yemi Osinbajo whom he had earlier mandated to chair the National Economic Sustainability Committee.
Advertisement
“Two of the components approved under the Economic Sustainability Plan are the MSMEs Survival Fund and Guaranteed Off-take Scheme.
“The Steering Committee approved the implementation of the 2 Schemes in 5 distinct parts namely; the Payroll Support Scheme, Artisan and Transport Scheme, Formalization Support Scheme, General MSMEs Grant and the Guaranteed Off-take Scheme.”
Katagum stated that under the two components, the portal will open from 11:59pm on Tuesday, February 9, 2021 to Thursday February 18, 2021 for the Guaranteed Off take Scheme and General MSME Grant Applications.
She urged all interested MSMEs to go directly to the Portal and register for either of the Schemes free of charge.
She stated, “It is important to note that the purpose of Guaranteed Off-take Scheme is to stimulate direct local production by enabling 100,000 MSMEs in the production sector with funds to produce post COVID lock down stimulus products.
Advertisement
“The Scheme will give preference to products produced in reasonably sufficient volumes in each State of the Federation, which have the proven propensity to create jobs and have a multiplier effect on the surrounding economy.”
The minister listed the products to include; Face Masks, hand sanitizer, liquid Soap, disinfectant and Processed Foods.
She also said MSMEs registered in Nigeria and owned by Nigerians will get patronage from government via procurement of products with a value of N150, 000 per business entity.
