The Project Delivery Office (PDO) of the MSME Survival fund has unveiled a plan to grant N50,000 each to 100,000 Small and Medium Enterprises across the 36 states of the Federation and the FCT.
In a tweet, via the official handle @SurvivalFund_ng, “A one-off grant of N50,000 will be given to each qualified MSME as direct cash injection into their enterprise. The total number of beneficiaries in this track is 100,000 spread across the states.”
The Federal government had launched the survival fund scheme as a grant to help provide MSMEs with immediate relief from the harsh economic impact, as a result of the COVID-19 pandemic that ravages the world. Other components of the scheme include;
Payroll support: The Payroll support scheme is meant to assist about 500,000 vulnerable MSMEs in meeting payroll obligations (Salaries) of between N30,000 to N50,000 per employee over 3 months.
Artisan/Transport Support Scheme: The Transport Support Scheme grant is for people whose transport businesses were affected by the pandemic, the FG would disburse N30,000 grant to selected transporter, registration is through the various transport union and association.
Free 250,000 Business Names Registration: aimed to provide Business formalization Support for MSME’s. The scheme approved free business name registration for 6,606 Business Names in each state of the federation.
Guaranteed Off-taker Stimulus: the Survival Fund Guaranteed off-taker Stimulus Scheme aimed at protecting and sustaining the incomes of vulnerable Micro and Small Enterprises by guaranteeing the offtake of their products.
