Nigeria At 60: FG To Disburse N300m MSMEs Survival Fund

Government has concluded arrangements to share about N300million under the National Medium, Small and Micro Enterprises (MSMEs) Survival Funds scheme to about 333,000 artisans and transporters, as part of measures to commemorate Nigeria’s 60th Independence anniversary on October 1st.

The government named target beneficiaries of the scheme include mechanics, taxi drivers, hairdressers, keke NAPEP riders, Okada riders, plumbers, electricians among others.

It said the beneficiaries are to be drawn from 12 states, including Lagos, Bauchi, Kaduna, Kano, Plateau, Borno, Ekiti, Anambra, Abia, Kogi, Ondo, and the FCT respectively for this first phase of the scheme.

The Minister of State for Industry, Trade and Investment, Ambassador Mariam Yalwaji Katagum, made this known in Abuja, while briefing journalists on the government’s preparation for the anniversary.

Katagum, who is also the Chairperson, Steering Committee of the Scheme, disclosed that each beneficiary would be given a one-off payment of N30, 000.

According to her, about 174,574 MSME operators have so far registered for the Scheme, with five states recording the highest.

In a remark, the Special Assistant to the President on MSME, Tola Johnson, said N75billion has already been set aside by the Federal Government for the National MSME Survival Fund, with a Guaranteed Off-Take Stimulus Scheme, under the Nigeria Economic Sustainability Plan (NESP).

Johnson explained that the gesture is to cushion the impact of the COVID-19 pandemic on MSMEs.

Also contributing, the Director-General of Small and Medium Enterprises of Nigeria (SMEDAN), Dr Dikko Umar, revealed that all MSME operators in the states of the federation and the FCT would be carried along in the programme.

He said necessary measures have been put in place to prevent scammers and fraudsters from taking advantage of the scheme.