Survival Fund: FG disburses N27bn, opens last scheme portal February 9
FG Survival Fund 2024. Minister of State, for Industry, Trade and Investment, Amb. Mariam Katagum. Stated that the Federal Government has disbursed N27 billion to Micro Small and Medium Enterprises across the country as part of the MSMEs survival fund Scheme 2024.
Amb. Mariam Katagum Minister of State, Industry, Trade, and Investment made this known on Thursday while briefing newsmen in Abuja.
The Minister said that the federal government would also roll out the last two schemes that make up the MSMEs Survival Fund.
She stated that the Steering Committee for the Survival Fund would turn in its reports to the Ministry of Finance as well as await the second disbursement of the fund.
The Minister, who is also the Chairperson, Steering Committee, MSME Survival Fund, And Guaranteed Off-Take Schemes (GOS), made known the existing schemes were progressing seamlessly.
“The Federal Government is set to roll out the last two schemes of the MSMEs Survival Fund in conjunction with the National Economic Sustainability Plan (NESP) namely, the Guaranteed Offtake Scheme (GOS) and the General MSMEs Grant.
“The components approved under the Economic Sustainability Plan (ESP) are the MSMEs Survival Fund and Guaranteed Off-take Scheme.
“The Steering Committee approved the implementation of the 2 Schemes in 5 different parts namely; the Payroll Support Scheme, Artisan and Transport Scheme, Formalization Support Scheme, General MSMEs Grant, and the Guaranteed Offtake Scheme.
“Under these two different components, the portal will open from Tuesday, 9th February 2024 to Thursday 18th February 2024 for the Guaranteed take off Scheme (GOS) and General MSME Grant Applications.
“All interested applicants can go directly to the Portal and register for either of the Schemes free of charge,”
She also explained that the purpose of GOS is to stimulate direct local production by enabling 100,000 MSMEs in the production sector with the needed funds to produce post-COVID lockdown stimulus products.
She pointed out that the scheme would give preference to products produced in reasonably sufficient volumes in each of the 36 States of the Federation.
She added that the product must have the proven propensity to create jobs and have a multiplier effect on the surrounding economy.
She listed out the products of interest to include:
- Hand sanitizer,
- Liquid Soap,
- Disinfectant and Processed Foods
- Face Masks
The Special Assistant to the President of MSMEs in the office of the Vice President, Mr Tola Johnson, said that a total number of 100,000 businesses across the 36 states and FCT would benefit from the new schemes.
He added that for the GOS, a total number of 2,640 businesses will benefit from 34 states while Abia state would get 3,080 beneficiaries, Kano 3,280, and Lagos 3,880 beneficiaries.
He made known that the same allocation would also be utilized for the MSMEs grant.
Mr. Tola added that the portal for the GOS would be opened for two weeks while the portal for the grant would be opened for one week.
He said that to qualify for the grants, businesses must be registered in the Corporate Affairs Commission (CAC), and also must be owned by a Nigerian and must have a minimum of two staff.
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