The Federal Government’s N75 billion MSME Survival Fund is now being disbursed to mitigate the impact of the COVID-19 Pandemic on Micro, Small, and Medium Enterprises as part of the National Economic Sustainability Plan.
Remember that in January 2022, the MSME Survival Fund Grant Scheme Project Delivery Office notified MSMEs that had recently been accepted for the Survival Fund Payment to specify if any registered Employees under their MSME needed to be removed by filling out a Form https://bit.ly/3EU8bao.
While many were skeptical, in January 2022, we published a breakdown of MSME Survival Fund beneficiaries as well as the number of beneficiaries projected to join the program in 2022.
“In the first meeting of the Economic Sustainability Committee in 2022, the Minister of State, Industry, Trade and Investment, Mrs Mariam Katagum disclosed that over 1.1 million Nigerians have benefitted from different schemes under the ESP msme survival fund, thereby saving millions of jobs.
“Mrs Katagum in her report stated that 459,334 beneficiaries have so far emerged under the Payroll Support Scheme. This entails that about 40,666 beneficiaries are yet to be engaged under the Payroll Support Scheme.
“She added that 307,687 beneficiaries have been recorded under the Artisan & Transport Scheme. Which means that about 25,313 beneficiaries are yet to benefit under the track.
“Similarly, 82,491 Nigerians have so far benefited from the General msme Grants Scheme, while 17,468 have so far benefited under the Guaranteed Offtake Scheme. This also means that 17,509 and 82,538 beneficiaries are yet to emerge under the General Grant and Guaranteed Offtake Scheme respectively.
“According to the Minister’s report, 250,000 business names have however been registered free under the survival fund’s CAC Formalization Support Scheme.
“The above report is contained in a Statement titled “VP receives ESP Update, as MDAs report progress with over two million jobs saved, created so far”, by Laolu Akande – Senior Special Assistant to the President on Media and Publicity,” we clarified in the Publication.
The Federal Government has begun payment of the three-month N30,000 to N50,000 salary supports to employees and CEOs under the Payrol Supports Track, as well as the Guarantee Offtake Scheme Track, according to today’s MSME Survival Fund Survival Fund 2022 Payment Update.
Applicants for the N75 billion MSME Survival Fund Scheme should expect more payments in 2022, and should be aware that no payment date for the Survival Fund 2022 has been set.
Applications should also be aware that the Survival Fund Registration Portal is not currently open for new applicants in 2022; rather, the Survival Fund Payment for 2022 is currently underway.
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