MSME Survival Funds: New important things to know

This publication is meant to clear some doubts about the N75Billion MSME Survival Funds registration processes across the country as many reactions have trailed the implementation of the Program.

Many Nigerians are wondering where we are and where we are going on the processes as the portals earlier created for the registration processes have been abandoned, yet registration is on going.

Let's take it one after the other.

 1. Payroll Supports: 

This category of the MSME Survival Funds is meant for employees (those employed to work) by various owners of Micro, Small and Medium Enterprises whereby the CEO/Proprietor who met the requirement registered a minimum and Maximum of 3 and 10 of his/her employees respectively for a 3months salary support of N30,000 to N50,000 to about 500,000 MSME employees.

The registration Processes for the Payroll Supports was done online and concluded. Some applications have been verified, verification on going and disbursement is set to commenced. 

2. Formalization Supports also known as Free CAC Registration:

The registration processes for this category is on going but a little complicated. Just relax, I will explain.  

In this category, 250,000 unregistered Micro, Small and Medium Enterprises with the Corporate Affairs Commision would be registered free of charge by the Federal Government as part of the National Economic Sustainability Plan on MSMEs.

The Federal Government said it had settled with the registration bills for these 250,000 to-be beneficiaries, and every State has at least 6,000 slots.

The application processes got a little difficult along the line but the government in a bid to ensure that true and expected beneficiaries obviously benefit from the program, took it down to the States. 

A list of Aggregators(Individuals appointed to oversee the processes in the States) across the Federation with their Phone Numbers and other channels of Communication were released as can be accessed here 👇👇👇

MSME Survival Fund Free CAC: List of Aggregators Nationwide |See how to apply

Locate your State, call your aggregator to know how it's being done in your State.

Meanwhile, some State deviced strategies to make the Registration processes easy and fast. For Example, the Enugu State Government through the Enugu Small and Medium Enterprise Agency (SME Center, Enugu) undertook a seamless approach and had invited for Registraion.

This can be accessed as follows👇👇👇:

 3. Artisan and Transport Supports: 

333,000 Artisans (Tailors, Plumbers, Bricklayers, Masons, Carpenters etc) and Transporters (Keke Riders, Okada Riders, Taxi Drivers, Bus Drivers etc) would benefit from a one time N30,000 to N50,000.

The Federal Government made it mandatory to ensure that the individuals captured here are the expected beneficiaries and opted for group capture. 

The Cluster could be an association of the Artisans or Transporters and such must be registered associations and verifiable.

The Artisan/Transport Supports is on going and disbursement has commenced in some States.

Kindly visit No 2 above and locate the List of Aggregators to know 'how far' and 'where to' the processes are going in your State.

The remaining 2: General Grant of N50,000 to 100,000 MSMEs and Guaranteed Offtake Scheme for bulk purchase of Products from 100,000 Producers are yet to commence.

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