The Federal Government on September 21, 2020, has opened the Survival Fund registration portal for interested Nigerians to register.
The survival fund registration is basically for Micro, Small and Medium Enterprises (MSMEs) within Nigeria.
MSME Survival Fund is a federal government initiative created to provide money to support businesses affected by Covid19 pandemic in the country.
Like other countries all over the world, businesses in Nigeria have also been badly hit by Covid19 pandemic. The lockdowns have caused massive disruption of economic activities.
How to apply for MSME Survival Fund (survival fund portal)
The federal government has marked out N75billion as a survival fund to support small businesses. However, Nyscinfo.com learnt that about 1.7 million Nigerians are expected to benefit from this money.
Click Here to see how you can apply for survival fund in Nigeria.
But before you apply for the MSME Survival Funds, take note of the following;
- The official website to apply is https://www.survivalfund.ng
- Only people under payroll support can apply
What is Payroll support?
This is to support business owners that cannot pay their staff salary for the past three (3) months. The employees’ salary must between N30,000 and N50,000.
The Federal government is ready to help about 500,000 business owners under this category across Nigeria.
Please note that the number of staff to benefit from this fund must not be over 10 people for each business.
Survival fund Payroll timetable
Below is the payroll support timetable;
- Education (private schools): Monday, 21st Sept, 2020 – 10.00PM.
- Hospitality: Friday, 25th Sept 2020 – 12:00AM.
- General (All Sectors) – 12:00AM.
Note: registration for every sector will continue until Thursday, 15th October 2020. Also take note of the time.