The Federal Government of Nigeria has commenced the implementation of the Survival Fund Guaranteed Off-Take Scheme (GOS), naijabusiness.com.ng can authoritatively reveal.
This was revealed by the Honourable Minister of State, Federal Ministry of Trade and Investment, Amb. Maryam Yalwaji Katagum, who also doubles as the chairperson of the steering committee of the MSME Survival Fund
According to the honourable minister, an initial 100,000 MSMEs were targeted to benefit from the Guaranteed Off-Take Scheme (GOS) through an online registration. In the end, over 69,000 applications were received and a total of 53,032 MSMEs were prequalified in line with set criteria such as; Nigerian citizenship, BVN, CAC registration, among others.
The minister also revealed that successful applicants will be contacted through SMS to complete necessary documentation and accept the offer within a given time frame. Beneficiaries were also asked to look out for the products that they will supply and the list of warehouses for delivery in their OFFER LETTERS which will be accessible online.
About MSME Survival Fund Guaranteed Off-Take Scheme
The Guaranteed Off-Take Scheme (GOS) is the last track of the MSME Survival Fund and is intended to like the other tracks help to fully rejuvenate the economy especially MSMEs in the manufacturing sector. Some of the other tracks of MSME Survival Funds include; Payroll Support Scheme, Artisan and Transport Scheme, Formalization Support Scheme and General MSME Grants Scheme.
These tracks are in line with the Nigerian Economic Sustainability Plan as approved by the Federal Executive Council (FEC) on 1st of July 2020.
Performance review
The minister also gave a quick review of the performances of other MSME Survival Fund tracks. In her words: ‘’The Payroll Support Scheme targeted 500,000 beneficiaries. To date, there are 459,334 successful beneficiaries across the 36 states and the FCT. The Artisan and Transport Scheme had an initial target if 333,000 beneficiaries but currently has 293,336 successful beneficiaries across the 36 states and FCT. The CAC Formalization Support Scheme set out to register 250,000 new businesses. Currently, 244,162 small and growing enterprises have been successfully registered across the 36 states and the FCT. The General MSME Grants Scheme had its initial target set at 100,000 MSMEs. So far, a total of 82,491 MSMEs have successfully benefitted.’’
