Survival Fund: FG Disburses N1.13bn To CEOs/Employees/Youths

Survival Fund: FG Disburses N1.13bn To CEOs/Employees/Youths: Survival Fund Second Batch Payment Commences as FG disburses 1,013,000,000 naira to youths, families, Females, Employees, CEOs etc.

The Federal Government is Crediting 100,000 Persons and businesses with 50,000 each

The Federal Government has started crediting 100,000 Businesses/Persons with N50, 000 each-Free Grant in the Survival Fund Programme

This is coming at a time, when the guaranteed off take scheme (gos)/general grant ends registration

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Over 100,000 Businesses will be given N50, 000 each as free grant to caution the effect of the covid-19 pandemic on businesses of SMEMS in the country

The Survival Fund covers such schemes like N50,000 Payroll Support for three months to over 300,000 beneficiaries; one-time grants of N30,000 each to about 100,000 artisans, and 100,000 business name registrations paid for by the Federal Government.

Meanwhile, 100,000 businesses will be funded and supported through the Guaranteed Off take Scheme (GOS) and General MSME Grant Applications, hence the effect of the covid-19 pandemic will have less impact in the livihood of the average and poor masses

All interested MSMEs can go directly to the Portal and register for either of the Schemes free of charge,”

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Survival Fund: FG Disburses N1.13bn To CEOs/Employees/Youths

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

Facts about the National Survival Fund

  • The scheme is estimated to save not less than 1.3million jobs across the country
  • Over 35,000 individuals per state
  • 100,000 Businesses/Persons will get N50,000 each-Free Grant
  • 333,000 artisans and transport business operators will get N30, 000 each-Free Grant
  • 100,000 MSMEs to protect jobs and livelihood
  • 500,000 vulnerable MSMEs will get N30,000 to N50,000 per employee over 3 months
  • 250,000 new businesses to get free CAC Business Name registration

What are you waiting for?  Click here to start registration now

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%.

General Features

General Grant: Support the survival of 100,000 businesses most affected by the COVID-19 pandemic with N50,000 each

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

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

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)

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