The first batch of Micro Small and Medium Enterprises (MSMEs) are getting a one-time payment under the Survival Fund scheme by the FG.
The ongoing payment will serve N30,000 each to 333,000 MSMEs who had applied to the scheme between October 1-10. Also, only those from the FCT, Borno, Kano, Bauchi, Plateau, Delta States, Anambra, Lagos, Ondo, Kaduna, Abia, and Rivers will receive funding in the first batch.
- CBN Will Give N2 Billion Under Agriculture Development Scheme
- Account Opening and BVN Registration to Begin for SPW
The FG has had some extensive discussion and considering relief funds for daily earners in the country according to the Vice President Professor Yemi Osinbajo.
Who can get the FG Survival fund
Laolu Akande, the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, announced that verified beneficiaries of the Artisan Support Scheme will receive funding.
The ongoing survival fund for artisans as the FG announcement states refers to a number of artisans. Salon workers, auto mechanics, plumbers and builders are on the list.
- Daily Earners in Nigeria Likely to Get Welfare Fund – Professor Osinbajo
- FG To Finance 2021 Budget Deficit Of N5.1 Trillion With Loans
What is the survival fund
The Survival fund is a scheme which the Federal Government employs to grant fund to MSMEs. The funding will help it protect jobs and create new ones, as the vice president noted earlier.
Vice President Professor Yemi Osinbajo oversees the scheme as asked by President Muhammadu Buhari. Below is part of the recent statement from the FG on the disbursement of the Survival Fund.
- IT Security in Nigeria – No Institution Is Safe Cybersecurity Firm Warns
- Stripe Reportedly Make Biggest Acquisition With Paystack In Nigeria
“The MSMEs Survival Fund scheme is a component of the Nigerian Economic Sustainability Plan, NESP. It was developed by an Economic Sustainability Committee established by President Muhammadu Buhari in March 2020.”
“Under the ESP, the Survival Fund is generally designed to among other things, support vulnerable MSMEs in meeting their different obligations and safeguard jobs in the sector.”
Follow us on Facebook and Twitter and send us stories on contact@africareinvented.com