N75Bn MSME Survival Fund: Easy Steps to Register-Apply Here
See 433,000 Nigerians, Businesses To Get N50,000, N30,000 Each – FG
N75Bn MSME Survival Fund: See Easy Steps to Register-Apply Here: “The Federal Government of Nigeria is set to commence nationwide implementation of two MSMEs initiatives namely, the MSME Survival Fund with the Payroll support track as the first scheme to rollout (60 Billion Naira) and the Guaranteed Off take Scheme (15 Billion Naira) to help cushion the impact of the COVID-19 pandemic with a view to boosting the economy by saving existing jobs and creating new job opportunities.
The Plan aims to within the space of 12 months;
See Nigerian Youth Investment Fund (NYIF): Application Ongoing-Apply Here
Try to ameliorate the fallout of the impact of Covid19 on the economy by injecting 2.3 trillion Naira into the economy to prevent a bigger recession.
There are several Initiatives and measures within this plan designed to help the Average Nigerian.
Specifically, I would like to talk about what we have for the MSMEs. From next week we are going to start the Survival Fund which is but one part of the plan and for all information as regards who qualifies Nigerians can visit survivalfund.ng”
From Next week, the site survivalfund.ng would be opened for Nigerians who have MSMEs, Nigerians who are Transport workers, artisans, plumbers, electricians, private school teachers, and all other kinds of categories that Nigerians can benefit from.
A good portion of the sustainability plan would be happening at the state level, for example we have 30 -35 thousand slots earmarked for each state to benefit from the payroll support.
As for the Agric section you mentioned, we already have about 12 – 15 states that are in agreement to make additional land available to farming, so that the plan to bring in about 5million jobs is already making progress, Mr. Akande added”.
Features
- General Grant: Support the survival of 100,000 businesses most affected by the COVID-19 pandemic with N50,000 each
- Artisan/Transport Support: provide 333,000 artisans and transport business operators with a N30, 000 operations grant to reduce the effects of income loss
- Guaranteed Off take Scheme: Bulk purchase of products from 100,000 MSMEs to protect jobs and livelihood
- Payroll Support: Support 500,000 vulnerable MSMEs in meeting payroll obligations of between N30,000 to N50,000 per employee over 3 months
- Formalisation Support: provide free CAC Business Name registration for 250,000 new businesses
MSME SURVIVAL FUND
“The MSME Survival Fund is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard Jobs in the MSMEs sector.
The scheme is estimated to save not less than 1.3million jobs across the country and specifically impact on over 35,000 individuals per state”
Duration:
The scheme will be implemented over an initial period of three months in order to provide immediate relief from the economic impact of the pandemic.
Target Beneficiaries:
The scheme targets two categories of beneficiaries namely;
- Employees of MSMEs
- Self-employed individuals, both schemes have made provision for a 45% female business participation and special needs participation of 5%.
Requirements
- Must have a staff strength of no less than 3 persons
- Must be owned by a Nigeria
- Employees’ company must be registered in Nigeria under the Corporate Affairs Commission, CAC
- Must have BVN by company CEO
Self-employed Individuals in the following categories
- Artisans, Electricians Plumbers
- Service providers in the transportation sector-Bus drivers, Taxi drivers, Ride share drivers. (Uber, Bolt Taxify etc) and Mechanics
GUARANTEED OFF-TAKE STIMULUS SCHEME
“This scheme will protect and sustain the income of vulnerable Micro and Small Enterprises from the economic disruptions of the COVID-19 pandemic through the implementation of various initiatives aimed at boosting the production capacities of the small businesses as well as provision of grants.
The main objective of this particular scheme is to boost production capabilities of small businesses with the view to ensuring that they remain in business”
Beneficiaries:
Micro and Small businesses registered in Nigeria.
Duration:
The duration of implementation will be same as the payroll support Target
Registration for Payroll Support Starts 21st September 2020
Click here to start registration www.survivalfund.ng