MSME Survival Fund: FG assures even distribution of Fund

 *Lagos, Kano and Abia to get marginal increase of beneficiaries.

The Federal Government has assured that the N75B allocated for the MSME Survival Fund would be evenly distributed across the States of the Federation.

This is contained in an update today from the Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande.

Akande stated that 13,000 beneficiaries would emerge for the 3 Months N30,000 Payrol Support from each of the 36 States plus FCT while 2,640 beneficiaries would benefit from the N50,000 one-time General Grant from each State of the Federation and FCT.

He furthered that 6,606 beneficiaries would have their businesses registered by the Corporate Affairs Commision free of charge under the Formalization Surport from each State plus FCT, adding that 9,009 beneficiaries would benefit from the Artisan and Transport Supports while 2,640 beneficiaries would emerge under the Guranteed Oftake Scheme per each of the 36 States plus FCT.

Akande however noted that Lagos, Kano and Abia State would have a marginal increase in the number of beneficiaries as they house more Micro, Small and Medium Enterprise activities than other States.

According to the distribution pattern, for the Payroll Support, Lagos will get 25,000 beneficiaries; Kano gets 17,000; Abia gets 16,000; while other states get 13,000 each.

For the General MSME Grants, Lagos gets 3,880; Kano gets 3,280; Abia gets 3,080; while other states get 2,640 each.

For the free Corporate Affairs Commission registration, Lagos gets 9,084 beneficiaries; Kano-8,406; Abia – 7,906; while other states get 6,606 each.

For the Guaranteed Offtake Scheme, Lagos gets 3,880; Kano -3,280; Abia -3,080 and other states 2,640 each while each of the States plus FCT would get 9,009 beneficiaries under the Artisan and Transport one-time grant.

The Registration for the Free CAC has continued in many States while the Payrol Supports ended waiting for disbursement to commence.

Also, the Artisan Surports has witnessed disbursement in 11 pilot States viz: Lagos, Ondo, Kaduna, Borno, Kano, Bauchi, Anambra, Abia,  Rivers, Plateau and Delta States as well as the FCT while the data capture is on going in some States.

The Guaranteed Offtake Scheme and the one-time General Grant is yet to commence across the Federation. 

You May Also Like

Post a Comment