Federal Government Opens Last Survival Funds Scheme Portal Feb. 9

The Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum on Thursday while giving an update on the intervention at a briefing in Abuja, said the federal government is ready to roll out the last two schemes of the MSMEs Survival Fund component of the NESP namely, the GOS and the General MSMEs Grant.

She said the portal for registration will open from 11:59 pm on Tuesday, February 9 to Thursday, February 18 to receive applications for both programmes and urged all interested MSMEs to go directly to the portal and register for either of the schemes free of charge.

The N75 billion project forms the core part of the N2.3 trillion Nigeria Economic Sustainability Plan (NESP) currently being implemented by the President Muhammadu Buhari-led administration to help cushion the impact of the pandemic with a view to boosting the economy by saving existing jobs and creating new job opportunities.

The program was launched November 2020 alongside the Guaranteed Offtake Scheme (GOS), both targeted at assisting Micro Small and Medium Enterprises (MSMEs) to overcome the challenges posed by the COVID-19 pandemic.

The project will give preference to products produced in reasonably sufficient volumes in each state of the federation, which have the proven propensity to create jobs and have a multiplier effect on the surrounding economy, she added.

The minister further identified the products as masks, hand sanitizer, liquid soap, disinfectant and processed foods.

She said MSMEs registered in Nigeria and owned by Nigerians will get patronage from government via procurement of products with a value of N150,000 per business entity.

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