Economy

300 MSME’s Benefit From Survival Scheme

Over three hundred Micro, Small and Medium Enterprises (MSMEs) have so far benefitted from the Federal Government Survival Fund scheme amounting to close to about ten billion Naira.

Special Assistant to the Vice President on MSMEs, Mr Tola Johnson stated this in Abuja, at the 12th meeting of National Council on Industry, Trade and Investment.

Mr Johnson, who is also the Project Coordinator of the fund, in a paper entitled “Impact of Survival Fund on the Economy ’’, said the numbers increase weekly once approved.

He explained that by the end of December, 500,000 beneficiaries would have been paid, which means that half a million jobs would have been saved.

Mr Johnson also said the scheme is expected to specifically impact on over thirty-five thousand individuals per state.

The MSMEs survival fund scheme is a one-off grant to support vulnerable business in meeting their payroll obligations and safeguarding jobs to cushion effects of the COVID-19 pandemic.

The five tracks under the scheme are payroll support, Transport and Artisan Grants, General MSMEs Grants, Formalisation of Business and Guarantee Off-Take.

Patience Olumati

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