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The Federal Government (FG) has flagged off the last track of its Micro Small and Medium Enterprises (MSMEs) Survival Fund scheme, the Guaranteed Off-take Scheme, with 50,032 beneficiaries already shortlisted.
The Minister of State, Industry Trade and Investment, Amb. Maryam Katagum who also chairs the Survival Fund Steering Committee disclosed this at a news conference on Tuesday in Abuja.
People and businesses with verifiable Corporate Affairs Commission (CAC) registration have already received funds for the off-take scheme.
So far, beneficiaries of the N56,842,780,000 are up to 1,079,323.
The federal government rolled out the Survival Fund Scheme with three components following the emergence of the COVID-19 pandemic in 2020.
The Guaranteed Off-take Scheme (GOS) is the last of the three targeting small and growing businesses hit by the Covid-19 pandemic.
The Payroll Support Scheme targeted 500,000 beneficiaries but is currently at 459,334 beneficiaries.
The Artisan and Transport Scheme had initially targeted 333,000 artisan and transport beneficiaries and stands 293,336.
The minister further said that the first two schemes have made great progress.
- Survival Fund Registration
- The business culture of apprenticeship, settlement and succession in Nigeria
- Application portal for MSME survival fund reopens
- FG Releases One-Time Survival Fund of N30,000 to 333,000 MSMEs
How to get the survival fund
Applicants who have successfully pre-qualified are to visit the portal to complete the documentation within three days of receiving a message.
Registration details are irreversible and therefore, should be accurate.
They are also to print a copy of the completed documentation from the portal for verification and approval for receipt of funds.
Applicants will receive an initial sum of N30,000 to begin production which they will deliver to the selected Warehouse/Collection Point within 14 days.
They will get a balance of N70,000 after delivery to the warehouse.
The state governments will take charge of distributing the products to public and private institutions in the country.
A final SMS will be sent to applicants confirming their eligibility to continue with the scheme.
