MSME Survival Fund: Over 170,000 Nigerians register within 4 days, FG urges Nigerians to follow Schedule

The Minister of State for Industry, Trade and Investement, Mrs Mariam Katagum in Abuja, disclosed that over 170,000 Nigerians have applied for the MSME Survival Fund within 4 days of opening the registration  portal.

The MSME Survival Fund, a part of the Economic Sustainability Plan of the Federal Government aimed at cushioning the effect of the lockdown caused by the COVID-19 Pandemic on Micro, Small and Medium Enterprises (MSMEs) in Nigeria, targets above 850,000 Nigerians as beneficiaries in the following categories: Payroll Support of N30,000 to 500,000 Employees of MSMEs, Grant of N50,000 to 100,000 MSME owners in Nigeria, Grant of N30,000 to N50,000 to 330,000 Artisans and Transporters, Formalisation Support (free Business registration with Corporate Affairs Commision) for  250,000 Nigerians, and  bulk purchase of produce from 100,000 Producers in Nigeria in the Guaranteed Offtake Scheme, which would estimatedly save over 1.3million jobs.

Mrs Mariam during a press briefing on the National MSME Survival Fund and Guaranteed Off-take Stimulus Scheme noted that the registration for the 500,000 Payrol Support which began on 21st September, 2020 with the Education Sector (Private Schools) has had a total number of  174,574 Nigerians register in the portal as at 8.am Thursday 24th September, 2020.

"As at 8.30 am this (Thursday) morning, total successful registrations stood at 174,574 with the following states having the highest applications as follows: Kano, 19,895; Kaduna, 13,575; Lagos, 13,640; Katsina: 8,383; Federal Capital Territory, 8,085.”

The Minister furthered that the registration for the MSME Survival Fund  within the first 24 hours, had approximately 138,000 individuals log on, created profiles and completed the first stage of registration.

According to the minister, states that recorded the highest numbers of applications within the first 24 hours of registration are Kano, which recorded 16,880: Kaduna, 11,438; Lagos, 10, 530; Katsina, 7,354; and Bauchi, 6,622.

“All successful applicants received SMS and email verification with a list of requirements for the second stage of application which would commence on October 1, 2020. Applicants will be required to upload details supporting their applications which will be verified and if successful, approved for disbursements.”

The Minister however urged Nigerians to stick to the schedule as designed by the government to ease traffic congestion on the registration portal.

She pointed out that registration for the Hospitality Industry commenced on the 25th of September while General Grant would commence on the 28th of September all through 15th October, 2020. 

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