FG Commences Disbursement Of MSME Survival Fund Payroll Tomorrow

Vice President Prof. Yemi Osinbajo
The FG MSME survival fund payroll scheme application ended on the 15th of October, 2020. And payment is to commence on the 26th of October, 2020. Employees will be paid N30,000 or N50,000.

The beneficiaries of the payroll scheme will be paid for a period of 3 months. There will be 500,000 beneficiaries across the 36 states including the FCT.

The FG MSME grant support scheme application for artisans is still ongoing, as enumerators have been channeled in various states, compiling the lists of artisans in that area through their association leaders.

All artisans are to meet with their association leaders to document their details. The grant support for artisans is at N30,000 each for 333,000 beneficiaries. The registration of applicants for Stream 2 will begin on the 19th of October, 2020.

The FG formalization support will begin soon. This involves free CAC registration of 250,000 businesses. There will be a press release when the formalization support begins.

The general MSME grant will cater for 100,000 businesses with N50,000 each. A press release will be done when it begins.

The Guaranteed offtake is a track that will be specifically for MSMEs that are into production of items approved by the Steerco.

The basic requirements include: CAC certificate, valid BVN, SON or NAFDAC certification depending on the product capability of the SME applicants. Date of commencement will be communicated soon.

Millions of Nigerians have benefited from NPower, Covid-19 TCF, TraderMoni, MarketMoni, AGSMEIS, P-YES, Survival Fund, NYIF and other ongoing programs.

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