MSMEs To Commence Registration For Survival Fund February 9- FG

The Federal Government has announced that its intervention fund registration portal will be opened to Micro, Small and Medium Enterprise owners on Tuesday, February 9.

The Chairman of the Steering Committee of the MSMEs survival fund and guaranteed off-take stimulus scheme, Mariam Katagum, stated that the portal would be accessible from 11:59pm on Tuesday, February 9 to Thursday, February 18.

The guaranteed off-take stimulus scheme is targeted at protecting and sustaining the incomes of vulnerable MSMEs by guaranteeing the off-take of their products.

According to the Committee, the scheme will empower 100,000 MSMEs producing face masks, hand sanitiser, liquid soap, disinfectant and processed foods, spices, flour, and oil across the country.
However, a total of 3,880 beneficiaries will be from Lagos state, 3,280 from Kano state, 3,080 from Abia state while other states will each have 2,640 beneficiaries.

The Committee further indicated that benefiting businesses must be owned by a Nigerian, must have Corporate Affairs Commission registration; must have a bank verification number and bank account number.

Other criteria are that they must have at least two staff members; must be ready to produce under National Agency for Food and Drug Administration and Control and Standards Organisation of Nigeria specifications.

“The general MSME grant, a one-off grant of N50, 000 that will be given to each qualified MSME is direct cash injection into their enterprise. The total number of beneficiaries in this track is spread across the states.”

MSMEs To Commence Registration For Survival Fund February 9—FG
Cynthia Egboboh

The Federal Government has announced that its intervention fund registration portal will be opened to Micro, Small and Medium Enterprise owners on Tuesday, February 9.

The Chairman of the Steering Committee of the MSMEs survival fund and guaranteed off-take stimulus scheme, Mariam Katagum, stated that the portal would be accessible from 11:59pm on Tuesday, February 9 to Thursday, February 18.

The guaranteed off-take stimulus scheme is targeted at protecting and sustaining the incomes of vulnerable MSMEs by guaranteeing the off-take of their products.

According to the Committee, the scheme will empower 100,000 MSMEs producing face masks, hand sanitiser, liquid soap, disinfectant and processed foods, spices, flour, and oil across the country.
However, a total of 3,880 beneficiaries will be from Lagos state, 3,280 from Kano state, 3,080 from Abia state while other states will each have 2,640 beneficiaries.

The Committee further indicated that benefiting businesses must be owned by a Nigerian, must have Corporate Affairs Commission registration; must have a bank verification number and bank account number.

Other criteria are that they must have at least two staff members; must be ready to produce under National Agency for Food and Drug Administration and Control and Standards Organisation of Nigeria specifications.

“The general MSME grant, a one-off grant of N50, 000 that will be given to each qualified MSME is direct cash injection into their enterprise. The total number of beneficiaries in this track is spread across the states.”