The Minister of State, Industry, Trade and Investment, Mrs Mariam Yelwaji Katagum recently announced the taking off of the MSME Survival Funds General Grants from November 27, 2020.
The General Grant Scheme is a component of the Federal Government N75Billion MSME Survival Funds Programme to pad the impact of COVID-19 Pandemic on Micro, Small and Medium Enterprises (MSME) in Nigeria in which 100,000 registered businesses would receive a one-time grant of N50,000 each to improve their businesses.
The online application portal has been moved to https://www.survivalfund.gov.ng and the minister stated that “this group of beneficiaries (the General Grant) is encouraged to take advantage of registration through MSME associations, registered business clusters, trade associations, and unions”.
The minister gave a breakdown analysis, while speaking about the payroll support, stating that N30,000 was paid to each of the 94,696 verified employees of selected MSMEs, which totaled 101,567 beneficiaries and N3.18 billion disbursed.
She further stated that 2.6% of the beneficiaries were people with special needs while 43% were women.
She also said “The disbursement for Payroll Support is ongoing across the country. However, due to the inability of some states to meet their target application numbers, the portal will be reopened to accommodate such states,”