Report reaching nyscinfo.com confirmed that about two hundred thousand (200,000) more beneficiaries are receiving the FG cash under Economic Sustainability Plan (ESP) payroll support, and MSME grant schemes. Recall that FG resumed survival fund payment for new batch.
In the new batch, a total of one hundred and forty-six thousand sixty-five (146,065) beneficiaries to receive three (3) months Payroll support, while forty-six thousand one hundred and seventeen (46,117) beneficiaries are to get a one-time payment of fifty thousand naira (N50,000) MSME Grant.
The Economic Sustainability Plan (ESP) established by the Buhari administration’s, has so far continued to assist the lives of citizens, and also small enterprises nationwide, as beneficiaries of the MSMEs Survival Fund’s support, and the one-off General MSME Grant, of which beneficiaries have started receiving payments today being April 29th, 2021.
The commencement of payments was announced on Sunday 25th of April 2021.
This is coming up, after the approval of the MSME’s Survival Fund Steering Committee, whose duty is to ensure successful payments of funds to beneficiaries of the Payroll Support, and General MSME Grant.
Basically at this point, over thirteen Billion naira (N13,000,000,000) has been made available for the Payroll Support track, and more than two billion naira (N2,000,000,000) for the General MSME Grant.
In respect to the Payroll Support track, beneficiaries are being given thirty thousand naira (N30,000) or fifty thousand naira (N50,000) monthly for a period of three (3) months. A total number of one hundred and forty-six thousand siaty five (146,065) successful beneficiaries from twenty-eight (28) States have started receiving the sum of thirty thousand naira (N30,000) each, as their payments.
Individuals under this batch will get ninety thousand naira (N90,000) directly from FG as their three month salary support.
The states involve are;
Others includes; Niger, Kebbi, Yobe, Kogi, Kwara, Lagos, Nasarawa, Zamfara, Ogun, Ondo, Oyo, Sokoto, Taraba, and Osun.
This resulted to four hundred and sixty-five thousand eight hundred and twenty (465,820) beneficiaries under the Payroll support scheme in the country so far.
Likewise, under the General MSME Grants track, forty-six thousand one hundred and seventeen (46,117) successful beneficiaries in the Federal Capital Territory (FCT) and thirty six (36) States have started receiving payment of N50,000 each for the one-off grant.
This makes up fifty percent (50%) of the required disbursement for each State. As preparations for other batches are on. It is important to note to that, the total number of beneficiaries in this track is one hundred thousand (100,000) across the country (all states).
The one-off grant of fifty thousand naira (N50,000) will be given to qualified MSME, which will be a direct cash entering their businesses.
The MSME Survival Fund is designed normally to assist fallen businesses in meeting their payroll duties, and safeguard jobs in the sector. Not less than 1.3 million jobs in Nigeria are to be rescued with the help of the scheme, thereby impacting on over thirty five thousand (35,000) persons in each state.
This was approved by President Muhammadu Buhari on the 24th of June, 2020, to mitigate the advance effect of Covid19 pandemic on the citizens.
The whole plan was set-up by the Economic Sustainability Committee, which was chaired by the Vice President, Yemi Osinbajo. He was asked to lead the implementation process by the presidency.
Laolu A. SSA to the President
Media and Publicity
Office of the Vice President.
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